Looking at the "True Rate" vs "Headline Rate" graph....
The "Headline Rate" seems to be a good proxy for the "True Rate".
As long as we are not comparing them in the absolute term, what's the problem?
As long as we are not comparing them in the absolute term, what's the problem?
If you switch the perspective to this other rates it shows there's a lot of work to do to reach "true full employment".