The unemployment rate is generally trending down. That sounds good, and is. The percentage of the US population that is fully employed is reasonably steady at 45.3%. The percentage of the US population that even partly employed is reasonably steady at 66.9%. The remainder, therefore, is reasonably steady as well, but within that remainder is the shift in accounting from some unemployed people considered unemployed to unemployed people who aren’t counted. So, US jobs and unemployment are reasonably steady, even if the unemployment rate is trending down.
(Click on the graph for the link.)
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