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US functional unemployment trends
Overview
Reports indicate a rise in “functional unemployment” in the United States, a metric that includes individuals seeking to enter the labor market and part-time workers earning less than $26,000 annually before taxes.
Data from the Ludwig Institute for Shared Economic Prosperity (LISEP) suggests this rate reached 25% over a four-month period, coinciding with a decrease in labor force participation. While the official government unemployment rate was reported at 4.1%, analysts argue that the functional metric better reflects economic survival.
Economic pressures have been exacerbated by inflation and wage trends. In July, consumer prices rose 3.4% year-over-year while wages increased by only 3.2%, leading to a loss of purchasing power. During the same period, employers reportedly eliminated 23,000 jobs.
Entities
United States · Bureau of Labor Statistics · Ludwig Institute for Shared Economic Prosperity · Federal Reserve · CBS News
Timeline
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18 days ago
[BUSINESS] 3 sourcesUS functional unemployment reaches new highA new analysis finds that nearly 25% of U.S. workers were functionally unemployed in July, highlighting a gap between official unemployment rates and actual economic stability.
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20 days ago
[BUSINESS] 3 sourcesUS functional unemployment reaches 25% according to LISEP studyA study by the Ludwig Institute for Shared Economic Prosperity shows functional unemployment in the US has reached 25%, including part-time workers earning below the poverty threshold.
Sources
armstrongeconomics.com · laopinion.com · lapatilla.com · orissapost.com · sincomillas.com · socialnews.xyz