New data in a research paper for the National Bureau of Economic Research suggests the wage-dampening effect of mass unemployment has been overtaken by the “underemployment” of the gig economy.
Unemployment numbers mean nothing anymore. If we were so close to full employment people’s wages would be going up. They are not. Time to develop a new way of measuring employment.
Source: “Underemployment”: Misleading unemployment numbers are prompting the Fed and the Bank of England to make a huge errors – Business Insider