But the situation is much worse than the statistics show. They dont count people who are too discouraged to look for work, those who would take a job if one were realistically available. Also not counted are those who are working fewer hours than they want. Typically the unemployment statistics underestimate by a third. I surmise, but havent dug into it, that the under-counting is correlated with education: unemployment is probably double the BLS number for the dropouts. And for those under 25, it is over 50%.
But the situation is much worse than the statistics show. They dont count people who are too discouraged to look for work, those who would take a job if one were realistically available. Also not counted are those who are working fewer hours than they want. Typically the unemployment statistics underestimate by a third. I surmise, but havent dug into it, that the under-counting is correlated with education: unemployment is probably double the BLS number for the dropouts. And for those under 25, it is over 50%.
Apologies for the lack ok citations.