With due respect, I disagree that’s a “better” explanation. It is correct, but it is actually confusing the main issue.
The MAIN ISSUE here is the shrinkage of the “workforce participation.” It is THIS that allows a worsening economy to improve ‘statistically.” The seasonal adjustments, the U6, are correct - but distractions from the real issue - which is U3 is REALLY 11% (and U6 is close to 20) - if workforce participation had not been lied about.
Your point is exactly the adjustment that shadowstats is showing.
The real U-6 unemployment figure is almost 23%.
That is what the Commie Bastard is hiding.
Figures do not Lie, but Liars Figure.
“The seasonally-adjusted SGS Alternate Unemployment Rate reflects current unemployment reporting methodology adjusted for SGS-estimated long-term discouraged workers, who were defined out of official existence in 1994. That estimate is added to the BLS estimate of U-6 unemployment, which includes short-term discouraged workers.”
http://www.shadowstats.com/alternate_data/unemployment-charts