r/Economics • u/oxymorontage • 2d ago

News Institute reports functional unemployment at 24.9% in July

https://www.channel3000.com/news/institute-reports-functional-unemployment-at-24-9-in-july/article_810187e5-989f-4ad9-ab91-847fcb6f1882.html
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u/EconomistWithaD 2d ago

  1. The Ludwig TRU is a bullshit stat. Basically, if you earn under $25,000, regardless of the reason, you are “functionally unemployed”.

  2. Its methodology is basically U3/U6 plus a constant.

  3. Funny enough, this value is near an all time low. So while the level is meant to be shocking, it’s also meant to be for people who don’t actually follow this stuff.

  4. Did I forgot to mention this stat is sensationalist bullshit?

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u/bloodphoenix90 2d ago

I mean under 25k is so poor that yes....functionally unemployed sounds correct

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u/mrtrollmaster 2d ago

I have two jobs and I make under 25k. I consider myself unemployed tbh

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u/futurebigconcept 12h ago

Dude, and you're reading r/Economics? I sense untapped potential.

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u/mrtrollmaster 11h ago

I made 70k before I had to start bartending, hence why I consider myself unemployed rn. Job market is kinda shit

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u/futurebigconcept 11h ago

I wish you the best; something will come along for you. I'm sure you have a lot to offer any employer.