U.S. Bureau of Labor Statistics

Okay.  I understand the concept.  Sure, unemployment numbers go up because more people are looking for jobs, and more people are looking for jobs only because more people think it is worth looking for jobs.  People are more optimistic.  This could be viewed as a good thing.

But to a rational mind, it’s nonsense that’s an artifact of how we define “unemployed.”  Nonetheless, this Washington Post article tries to explain how higher unemployment numbers are actually good.

When the sign of an improving economy is a higher unemployment rate, perhaps we should fire the folks responsible for determining how we calculate the unemployment rate and give their jobs to someone who can come up with a sensible number.  Otherwise, we might never figure out how good our economy can be, until we hit 100% unemployment.

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