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There's another reason why the official rate is misleading. Say you're an out-of-work engineer or healthcare worker or construction worker or retail manager:And Gallup is being extremely generous.
If you perform a minimum of one hour of work in a week and are paid at least $20 - maybe someone pays you to mow their lawn - you're not officially counted as unemployed in the much-reported 5.6%. Few Americans know this.
Yet another figure of importance that doesn't get much press: those working part time but wanting full-time work. If you have a degree in chemistry or math and are working 10 hours part time because it is all you can find - in other words, you are severely underemployed - the government doesn't count you in the 5.6%. Few Americans know this.
There's no other way to say this. The official unemployment rate, which cruelly overlooks the suffering of the long-term and often permanently unemployed as well as the depressingly underemployed, amounts to a Big Lie.
And it's a lie that has consequences, because the great American dream is to have a good job, and in recent years, America has failed to deliver that dream more than it has at any time in recent memory. A good job is an individual's primary identity, their very self-worth, their dignity - it establishes the relationship they have with their friends, community and country. When we fail to deliver a good job that fits a citizen's talents, training and experience, we are failing the great American dream.
Gallup defines a good job as 30+ hours per week for an organization that provides a regular paycheck. Right now, the U.S. is delivering at a staggeringly low rate of 44%, which is the number of full-time jobs as a percent of the adult population, 18 years and older.
If you want to know what's happened to the American economy, follow the money. That will lead you to the richest .01 percent.See also:
And if you want to know what's happened to our democracy, follow the richest .01 percent. They'll lead you to the politicians who have been selling our democracy.
Meet the Pathocrats, the richest .01%

Comment: It can't be any clearer what the US wants in Ukraine: war. Even Biden has chirped in that Ukraine has the right to defend itself against Russian aggression.