The US True Rate of Unemployment Is 23 Percent: Ludwig Institute

The US True Rate of Unemployment Is 23 Percent: Ludwig Institute
Home Depot customers walk by a posted 'Now Hiring' sign in San Rafael, Calif., on March 8, 2024. Justin Sullivan/Getty Images
Chadwick Hagan
Updated:
0:00

Soon after President Joe Biden’s State of the Union address, presidential candidate Robert F. Kennedy Jr. released his own state of the union, in which he claimed that if discouraged workers were included in current unemployment metrics, the U.S. unemployment rate would stand at 23 percent.

For the record, a discouraged worker is someone who is capable of working and meets the criteria for employment but is jobless and hasn’t made efforts to seek employment in the past four weeks.

Chadwick Hagan
Chadwick Hagan
Author
Chad is a financier, author, and columnist. He has managed businesses and investments in global markets for over two decades. He is the host of the podcast “Deep Dive Inside,” which discusses Western society. His latest book is “The Myth of California: How Big Government Destroyed The Golden State” (2024).
twitter