The U.S. economy generated 254,000 jobs in September, exceeding forecasts, and the unemployment rate declined to 4.1% as growth continues to barrel along at or above a 3% pace. When taken out to three digits, the jobless rate was 4.051%, which means it narrowly missed the Federal Reserve’s 4% ... READ MORE >
U6 unemployement rate
CHART OF THE DAY: Estimating unemployment during the pandemic
Friday’s headline U3 unemployment rate of 6.7% for December is probably an undercount of the number of out-of-work people in the United States, not by design, but because of the peculiar circumstances of the pandemic. If one adjusts the estimate to account for these circumstances, the unemployment rate ... READ MORE >