alt Hacker NewsIn case you think 18% is Japan's unemployment rate: it's not. Japan's unemployment rate is 2.5%.
https://data.worldbank.org/indicator/SL.UEM.TOTL.ZS?location...
This is basically the best in the world.
https://www.oecd.org/en/data/insights/statistical-releases/2...
Not sure what rate OP is citing, but it's not the one I'd use to draw OP's conclusion. You don't wanna YOLO understanding how employment rates are calculated.
Replies
Correct. I was using labor participation rates. As a society gets depressed and has a hard time people stop trying (ie they no longer count as unemployed, which doesnt count the people who are no longer trying to get a job).
Similar to how as police systems fail, people stop reporting things assuming nothing meaningful will happen anyways. And then there's less reports of crime, so magically "crime is down" -- high fives to the police system... (/s)
> You don't wanna YOLO understanding how employment rates are calculated.
You're way better off YOLO'ing reading the documentation about how they are calculated than listening to the myriad pundits deliberately trying to mislead people and drive conspiracy theories.
This is all documented on the websites of the various statistical agencies, and you can just read their docs.