While the U.S. unemployment rate remains low at 4.2%, a deeper analysis from the Ludwig Institute for Shared Economic Prosperity (LISEP) reveals a more troubling picture.
Their “True Rate of Unemployment” (TRU) shows that about 24.3% of Americans are “functionally unemployed,” which includes not only those officially unemployed but also people stuck in low-paying jobs or part-time roles without a living wage.
Millions of Americans are living in “survival mode,” unable to afford even basic necessities, which exposes the gap between traditional unemployment figures and the true health of the U.S. labor market.