What The National Unemployment Numbers Don’t Show
The national unemployment rate of 14.7% has long been used as a barometer of the nation’s financial health, but economists and advocates have long argued that figure obscures the economic struggles of millions of Americans. Is it an imperfect metric to show the real climate of the current financial crisis?
SaverLife wanted to know more, so we asked, “Have you been furloughed or had your hours reduced?” Last week, 4,200 visitors to SaverLife responded to this simple question, and the overwhelming majority indicate that they’re underemployed, at a minimum. It also likely means they’ve suffered a loss of income, compounding an already difficult spring.
