The U3 method that is used by the Bureau of Labor Statistics (BLS) to report unemployment is very misleading. It doesn’t include ‘discouraged workers’, those who have given up and have not looked for a job for the past 4 weeks.
According to the BLS, when you look at the
Civilian Labor Force Participation Rate: Men
30% of the able bodied men in the United States Do Not Have A Job!
This number has doubled since 1960.