Dec 1, 2021 - News
D.C.’s real unemployment rate is higher than you'd think
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The D.C. metro’s unemployment rate is 4.1%, according to the Bureau of Labor Statistics.
- But, according to Ludwig Institute for Shared Economic Prosperity analysis, the true unemployment rate, which includes those who are employed in a position earning less than a living wage, is much higher.
Of note: The institute defines a living wage as $20,000 a year before taxes.
Why it matters: When we look at unemployment, we don't often think about the people who are underemployed or who don't make a livable wage.
By the numbers: The Ludwig Institute says 20.3% of D.C. metro residents fall into that category.
The number jumps to 49.7% when you add in 16- and 17-year-olds and people working part time but trying to get full-time work — which the institute refers to as the “True Rate of Unemployment Out of the Population."