Thread by @geneludwig

As @Neil_Irwin reports for the @nytimes, the 210,000 jobs added was a weaker figure than forecast, but there is a bit of good news in today’s unemployment report. Notably, Black and Hispanic #unemployment went down 1.2% and 0.7%, respectively. 1/3
nytimes.com/2021/12/03/ups…

But regardless of what today’s headline figures say, we won’t really know the truth about November’s job numbers until the True Rate of Unemployment (#TRU) is released by the Ludwig Institute for Shared Economic Prosperity (#LISEP) later this month on lisep.org 2/3

Our calculations include those who can’t find full-time work and who are making below a poverty wage – providing a much clearer picture of the economy. October’s TRU told us 23.5% of Americans were functionally unemployed. 3/3