"A declining unemployment rate is occurring simultaneously with a declining employment rate" #readingToday


A declining unemployment rate is occurring simultaneously with a declining employment rate, which in normal times is impossible, say labor market experts. Unemployment and employment rates are supposed to be inversely related: when one goes up, the other goes down, like a seesaw. Not so today. That's because the multitudes of workers drifting into the grey economy are not counted in official employment statistics, and the numbers have grown large enough that the unemployment rate appears to be declining.

"Raw Deal: How the "Uber Economy" and Runaway Capitalism Are Screwing American Workers" by Steven Hill

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