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TIL that news article about 'record low unemployment' hid a big catch in the fine print
I read that viral piece from the Daily Wire last month claiming unemployment hit a 50-year low. But they conveniently left out the labor force participation rate which is still below pre-2020 levels. The Bureau of Labor Statistics data shows participation at 62.5%, not the 63.3% from 2019. Anyone else notice how these stories cherry-pick which numbers to headline?
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bailey.jennifer13m ago
Dig into those prime-age numbers more. What's the actual rate for 25-54 year olds who are working or looking for work compared to right before COVID?
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carr.abby2h ago
Always check the raw BLS data yourself, it takes two minutes and saves you from getting spun. Headline numbers are just bait for clicks.
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alicer532h ago
Wow, yeah I caught that too. I actually listened to a podcast from a labor economist who broke down how these headline numbers can be misleading. She pointed out that if you look at the employment-to-population ratio for prime-age workers (25-54 years old), it's actually pretty decent, but the overall number gets dragged down by retirees and people who just stopped looking for work. The BLS data I checked shows the participation rate for that prime-age group is around 83%, which is good but still not quite back to where it was in early 2020. It's wild how much spin gets put on these numbers depending on what news site you're reading, right?
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