• Avid Amoeba@lemmy.ca
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      8 months ago

      Not only this unemployment number does not count people who have given up looking, but 5.8% is 2.3 million people looking for a job at a wage they can’t find. This is definitely not full employment, by definition. No conspiracy required.

      • n2burns@lemmy.ca
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        8 months ago

        How do you define full employment then? Economists say roughly 5%, as you need a little flex since you can’t perfectly match everyone with a job. The link from Stats Canada also included the participation rate, which is 65.3%. This is fairly typical and doesn’t suggest the unemployment rate is boosted by people leaving the workforce.