Peter said ' Despite facing a prolonged recession, the unemployment rate in our country is only 6%'.?

Question

Another guy said. 'No! The unemployment rate should be higher.'
Y is there differences in the opinion of both the guys concerning unemployment rate. Two reasons for supporting answers?

Answer 1

If your question is about whether published estimates of the unemployment rate are accurate, the issue may be so-called 'hidden unemployment'. The official unemployment rate is the number of people looking for work divided by the labour force, where the labour force is everyone who has a job or is looking for one.

When unemployment is high, many people stop looking for work and move to the category known as 'not in the labour force'. This is known as the discouraged worker effect. SInce the unemployment rate is only those who have actually looked for work, these people are not counted as unemployed in official statistics and mean that the proportion of people who would like a job is higher than the published rate.

Answer 2

they're both wrong....unemployment is closer to 5%