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The unemployment rate in the US is climbing. If you look at a 5-year curve, it looks like nothing. But if you look at a 3-year window it's devastating. Seeing t
by josefritzishere 1y ago
The unemployment rate in the US is climbing. If you look at a 5-year curve, it looks like nothing. But if you look at a 3-year window it's devastating. Seeing the highs of 2003 and 2009 it seems likely that it will continue to climb.
https://fred.stlouisfed.org/series/UNRATE https://fred.stlouisfed.org/series/UNRATE
- BirAdam 1y agoIf you'd like to be really upset, check the labor participation rate. https://fred.stlouisfed.org/series/CIVPART https://fred.stlouisfed.org/series/CIVPART
- johnnyanmac 1y agoNew grads have an absurd unemployment rate, so I'm sadly not surprised. And this is still hiding the true economic disparity since we can't see the quality of the jobs. I'm "employed" but am doing part time work with no benefits. It's dreadful but I still contribute to the "low unemployment". As does others who defer to Uber or Doordash for quick cash. We need a complete overhaul of job numbers down the line.
- RiverStone 1y agoThe decrease is likely just the result of the demographic shift caused by an aging population, as the notes say. Unrelated to the overall health of the economy.
- dehrmann 1y agoThere's a whole lot that number doesn't capture, but broadly, U-3 is roughly flat and in the traditionally healthy range.