Optimist Economy Looking Beyond the Unemployment Rate
10 snips
Aug 26, 2025 Dive into the complexities of the unemployment rate, revealing how it masks issues like underemployment and skills mismatch. Discover New Zealand's innovative well-being budget amidst social challenges. Enjoy playful banter around quirky terminology and the nature of economic statistics. The discussion critiques traditional metrics, advocating for reforms that reflect lived experiences in the job market. Finally, find joy in delightful anecdotes about summer fruits and light-hearted listener interactions.
AI Snips
Chapters
Books
Transcript
Episode notes
Listeners See Job Mismatches In Everyday Life
- Robin met people working outside their training: a woman restarting at entry-level after months of searching and a retail worker hiding discomfort about their role.
- These personal encounters show how individual struggles make the economy feel worse than headline numbers imply.
BLS Measures Much More Than U3
- The BLS already measures many forms of labor slack beyond headline unemployment, like part-time for economic reasons and marginally attached workers.
- Catherine Edwards argues people often overlook these official measures when they feel the headline rate doesn't match their experience.
Check Alternative BLS Metrics Before New 'Rates'
- Use the BLS's alternative measures (like U6) instead of inventing new 'true' rates that conflate different problems.
- Check part-time for economic reasons and marginally attached counts to better understand labor slack.
