Statistics don’t tell whole story about U.S. unemployment | Local Business

The most important financial asset for most working Americans is a career. Our careers represent skills that we, in effect, rent to companies or individuals in exchange for money — which constitutes employment. If no one is exchanging money with you for your skills or services, you are unemployed.

According to information released by the Bureau of Labor Statistics at the beginning of February 2017, the U.S. unemployment rate is 4.8 percent. This is only slightly higher than the 4.6 percent reported at the beginning of December 2016, which was the lowest level since August 2007.

This is a vast improvement over the 10 percent unemployment rate of the Great Recession. Seemingly, things appear to be reasonably good, as 19 of 20 people who want a job have one.

However, unemployment numbers, like other statistics, are more nuanced…

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