Unemployment Is In Pretty Good Shape No Matter How You Look At It

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I have no special reason for posting this except that a few folks were discussing it in my Twitter feed. The proximate stimulus was an old piece by Gallup’s CEO claiming that the standard unemployment rate is a “lie” because it doesn’t count people who aren’t looking for work, or who are forced to work part time, etc. So here’s the U6 unemployment rate, which includes all those things:

Since 1994, when the series begins, the average U6 rate has been 10.7 percent. Today it’s 9.7 percent. But even at that, it’s about a point higher than the average during the last two expansions and two points higher than its best during the Bush era. In other words, it could still stand to drop another point or two, but it’s really in pretty good shape. Jobs are out there for most people who want them. Keep this in mind the next time you hear someone burbling about how unemployment is really way worse than the government is telling you.

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SIX TRUTHS

Reclaiming power from those who abuse it often starts with telling the truth. And in "This Is How Authoritarians Get Defeated," MoJo's Monika Bauerlein unpacks six truths to remember during the homestretch of an election where democracy, truth, and decency are on the line.

Truth #1: The chaos is the point.

Truth #2: Team Reality is bigger than it seems.

Truth #3: Facebook owns this.

Truth #4: When we go to work, we're in the fight.

Truth #5: It's about minority rule.

Truth #6: The only thing that can save us is…us.

Please take a moment to see how all these truths add up, because what happens in the weeks and months ahead will reverberate for at least a generation and we better be prepared.

And if you think journalism like Mother Jones'—that calls it like it is, that will never acquiesce to power, that looks where others don't—can help guide us through this historic, high-stakes moment, and you're able to right now, please help us reach our $350,000 goal by October 31 with a donation today. It's all hands on deck for democracy.

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