The “Low Unemployment” fallacy of today, and why those numbers are artificially low

self explanatory graphs showing the effective layoffs over the last 2 and 4 years

The official statistic being given today (Feb 6, 2024) is that the Unemployment number stands at 3.7%.

Which somehow doesn’t seem to jibe with what many of us in the tech field seem to be experiencing. If it were truly 3.7%, many of us who were let go starting in May 2022 would be in at least one role since then. And the…