Upon inception it was set at $0.25. It is now $7.25.

  • medgremlin@lemmy.sdf.org
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    1 year ago

    The unemployment rate does not take into consideration people who are under-employed or people who are working multiple jobs to get by. You could be working 3 part time jobs (none of which offer benefits) and still not make enough money to pay your bills. The “unemployment rate” is a load of bullshit and should largely be discarded in favor of tracking how many people are living above the poverty line.

    • trailing9
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      1 year ago

      Right. This is important to remember. I think my question is still valid because it’s about the real rate and not the published figure.

      • medgremlin@lemmy.sdf.org
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        1 year ago

        Except that the published figure is what gets used in policy and calculations. The real rate is largely ignored and the numbers are heavily skewed by ever-changing definitions and parameters making the “unemployment rate” a nearly useless metric. We need to run our country based on keeping people out of functional poverty, not based on keeping profits up.

        • trailing9
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          1 year ago

          Policy and calculations don’t matter if there is low unemployment. It’s minimum wage that’s gamed. Why fight that lost battle?

          • medgremlin@lemmy.sdf.org
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            1 year ago

            I’m saying that the unemployment rate is artificially low as well as being a stupid metric to use, but unfortunately, it’s the metric that powerful entities use to make decisions about manipulating the economy at large.

            • trailing9
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              1 year ago

              There is the published figure and there is the actual number of unemployed people.

              You rightfully point out that the figure is manipulated. I am talking about the actually unemployed people.