I know we all know that the disenfranchised are not counted in the unemployment numbers. Not new news.part of stagflation is rising unemployment (a dysphemism for a surplus on workers). so unemployment is rising from 4.8% to 5.2%, which alarmists would say "that's a jump of 10% in the unemployment rate!"
this is a far cry from being at economic threat-level midnight.
However, I think the disenfranchised portion of unemployment was consistent through the back half of the 1900s.
I suggest that unemployment statistics are more flawed these days with an exponential change in the unemployed not counted and the under-employed.
I say the unemployment number is much lower than it normally is by a full percentage point.