Thursday/ June’s job numbers: OK 👨‍🔧

Employment figures show that the American economy continues to stride past obstacles, including the inflationary pressures of the war with Iran.
Employers added 57,000 jobs last month and the unemployment rate fell to 4.2 percent from 4.3 percent the previous month, data from the Labor Department showed on Thursday.
The unemployment rate has been at or below 4.5 percent since October 2021, the longest streak since the late 1960s.
– Talmon Joseph Smith writing for the New York Times

Yes, the official unemployment rate ‘ticked down’ but what this graph does NOT show, is that workers are leaving the U.S. job market. The U.S. labor force is shrinking and the labor force participation rate fell to 61.5% in June, its lowest level since March 2021. If you are not actively looking for a job, you are not counted as unemployed.

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