by Michael Snyder
The Economic Collapse Blog
There is a lot of talk about the “unemployment rate” these days, but the way that it is calculated has become so convoluted that it is not really that meaningful anymore. Even during the so-called “good times”, more than 100 million U.S. adults were not working, but we were told that the unemployment rate was the lowest that it had been in decades. Of course now everything has changed. Since this pandemic began, more than 47 million Americans have filed new claims for unemployment benefits, and the mainstream media is going to make sure that fear of COVID-19 continues to paralyze our society for the foreseeable future.
In this article, I would like to discuss the employment-population ratio. According to Wikipedia, the employment-population ratio is “a statistical ratio that measures the proportion of the country’s working age population that is employed”.