There are several factors which contribute to the "rosy" official picture:
- A lot of people participate in the gig economy instead of getting registered as unemployed.
- AI has eroded a lot of employment opportunities for graduates, i.e. people relatively active on social networks.
- Official data can be horribly inaccurate (phone surveys in 2025, seriously?) with grossly outdated models (remember the recent huge revisions?). Political pressure does not help here either.
- The unemployment stats do not account for significant downgrades in salary and working conditions. They will show the same picture for a person with a cushy office job and the same person working 2 jobs in retail from paycheck-to-paycheck.