SFY - Stop Equating Low Unemployment Rate To High Employment Rate
There is always a lot of excitement around the unemployment stats these days. With near-historical lows, and the talk about 'full employment', there is much to be celebrated and traded on in the non-farm payrolls stats and Labor Department press releases. But the problem with all the hoopla around these numbers is that they too often mix together things that should not be mixed together. Like, say, mangoes and frogs, or apples and moths.
Take a look at the following data:
Yes, unemployment is low. Civilian unemployment rate is currently at seasonally-adjusted 3.7% (June 2019),