“not seeking unemployment so they don’t get counted in the U3 or U6 unemployment?”
Correct.
If you are unemployed and not looking then you are not counted. If you were looking, you are counted, if you then stop looking because you can’t find a job, and/or your benefits run out, then you are not counted as unemployed.
An official estimate is that over 40% more people from the unemployed number are unemployed but not counted.
The depression unemployment number included today’s “unemployment”, the non-employed but want work, and the underemployed.
Accurate comparisons would then put today’s unemployment at around 25% (Shadowstats), David Stockman, long time economist, just released data saying that today’s unemployment is 42%.
We are much much worse off than the Great Depression. Thanks obama, democrats, and rinos.
“We are much much worse off than the Great Depression.”
In more ways than one, in my opinion. Give people the exact situation in which my parents and grandparents thrived during the thirties and now most would starve.