Today’s chart of the day examines the official US unemployment rate, which has been declining steadily for the past 3 years vs. the employment rate.
The employment rate is the ratio of employed persons to the total civilian noninstitutionalized population 16 years old or older. Also termed the employment rate, the employment-population ratio is used as an alternative to the unemployment rate as an indicator of the utilization of labor resources.
The employment rate chart paints a very different story…
Chart courtesy Frank Knopers