April Jobs Report Like Q1 GDP: Headlines Good, Underneath Not So Much

The unemployment rate tumbled to 3.6%. That’s two tenths of a percentage point better than in any month at the height of the nineties dot-com boom. It’s the lowest unemployment rate since 1969.

How can that possibly be bad? It’s driven entirely by people falling out of the labor force.

 

 

 

 

 

 

 

 

 

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