The U.S. economy added 263,000 jobs in the month of April, dropping the unemployment rate to 3.6 percent, the Labor Department said on Friday.
That’s the lowest unemployment rate the U.S. has seen since 1969. For the past year, unemployments rates have been at or just below 4 percent.
The average hourly earnings rose six cents in April as well, to $27.77, adding to a five cent increase in the month of March.
Pete Hegseth is mad. The former weekend Fox News host and Army National Guard veteran who President-elect Donald Trump tapped…
Donald Trump’s sentencing on 34 felony counts related to his 2016 hush money scheme has been put on indefinite hiatus,…
Former Rep. Matt Gaetz (R-FL) announced in a Thursday X post that he is pulling himself out of consideration to…
The North Carolina Republican-controlled legislature is attempting to pass a sweeping bill — a power grab tucked inside a hurricane…
I was surprised to learn recently that part-time work counts exactly the same as full-time work in calculating the unemployment rate. I’m a bit of a government-data junkie, and I didn’t know that. Any minimum number of hours? I don’t think so.
This low unemployment rate is probably not as impressive as it looks. It is highly likely that the gig economy is making the unemployment picture look rosier than It really is.
Lies, damned lies & …
Has it always been counted this way?
My R “friends” used to argue the same thing when Obama was in office. They would go on about the “effective unemployment rate” being much higher because of how the feds calculate these numbers. I doubt they will be singing that tune today…because that would just be inconvenient.
I don’t think so, as I recall numbers on ‘under employed’ which I think reflected part-time workers who were seeking full-time work. But I am not sure.