Why unemployment might be worse than we think (again)

I have written previously about why the current system for measuring unemployment might not giving us an accurate picture:

Unemployments rising in the Chigley End of Town

People will have read in the media that UK unemployment is at it’s lowest since the 1970s.    This from the BBC is typical:

Screen Shot 2018-04-18 at 15.25.22

 

I thought that it might help to share the actual definition of unemployment being used to measure this huge fall:

Screen Shot 2018-04-18 at 15.21.34

One hour.

https://www.ons.gov.uk/employmentandlabourmarket/peopleinwork/employmentandemployeetypes/methodologies/aguidetolabourmarketstatistics#employment

 

 

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