Didn’t the government’s method of measuring unemployment changed between 1930 and 2009?SVariance1 wrote: ↑Sat Mar 21, 2020 4:28 pmI think we will see peak unemployment somewhere between 9.9% and 24.9%. I do not think it will get as high as in the great depression because people can work from home. Unemployment will naturally rise due to the shutdowns and if the stock market falls more, unemployment will rise more.quantAndHold wrote: ↑Sat Mar 21, 2020 4:24 pmUnemployment during the Great Depression peaked at 24.9%
During 2009, US unemployment was 9.9%.
I don't think whatever this is will last as long as the Great Depression did, but just throwing those numbers out there to compare with as we get numbers from the BLS over the next few weeks.
Also, are self-employed, independent contractors, and gig workers who can’t get work even counted in the official unemployment %?