America’s unemployment problem is much worse than it seems

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(CNN Business)

The national unemployment rate is masking how much some groups are still struggling in the pandemic economy. That’s why the Federal Reserve looks at more than just the average jobless numbers to determine the nation’s economic health.

“When we say maximum employment is a broad and inclusive goal, we don’t only look at the headline numbers,” Fed Chairman Jerome Powell said in his semi-annual testimony to the Senate Banking Committee on Tuesday.

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