Peep this chart, bruh:
The chart below showing the official unemployment rates in the United States since 1948 is an fun one. The graph shows that America’s current unemployment rate (~5%) is pretty solid right now relative to the past 60 years (regardless of how bullshit the unemployment stat itself is…more on that later).
You’d think this would be a good thing, right? Everyone wants low unemployment rates. It means Americans have a source of cashflow, businesses are thriving enough to employ individuals, and homes have more spending capabilities. Other than the fact that the stat itself is horseshit in terms of reflecting the economic well-being of the country (or true employment), there is something extra sneaky about the chart:
Almost all major troughs on the unemployment graph coincide with a major US recession. Recessions have occurred in the US during the following time periods: