Andrew Fribush
fig. 1.1.14 · the true rate: who counts as unemployed depends on who is counting.
WHO COUNTS AS UNEMPLOYED DEPENDS ON WHO'S COUNTING24.9%4.1%THE TRUE RATE: NO FULL-TIME JOB AND WANTING ONE, OR PAY UNDER $26,000THE GAP THE HEADLINE NEVER SEES · TRUE RATE NEVER BELOW 22.3% IN THIRTY YEARSTHE HEADLINE (BLS U-3)1995200520152025JUL 2026 AS 100 PEOPLE IN THE LABOR FORCE25 FUNCTIONALLY UNEMPLOYEDTHE HEADLINE COUNTS 4 OF THEMTHE DIVIDING LINE IS EDUCATION · TRUE RATE BY ATTAINMENTNO HIGH SCHOOL50.3%HIGH SCHOOL28.5%SOME COLLEGE29.5%BACHELOR'S16.8%ADVANCED DEGREE12.8%LISEP TRUE RATE OF UNEMPLOYMENT · SOURCE WORKBOOK, JUL 2026 EDITIONHEADLINE COLUMN: BLS · MONTHLY SINCE 1995

source: LISEP TRU source workbook (lisep.org/tru, Jul 2026) · trueRate.data.ts

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Andrew Fribush, software and computer engineer in Austin. I build consequential systems where software meets institutions: finance, healthcare, commerce, government data, and the mechanisms that govern AI agents. Taking new engagements: hello@andrewfribush.com.