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> What kind of nonsense statistic is an unemployment rate that doesn't count this fraction?

Like the inflation rate, unemployment statistics are more bread and circuses than useful information. They're designed to help the people in power remain in power, not to provide guidance for practical governing.

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There are multiple numbers for inflation that are all tracked accurately. The most commonly excited is the unemployed and looking number. However, there's also many more numbers like total labor force participation rate that capture retired people or people who are no longer looking

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