The big news in this morning’s #jobs report is that the unemployment rate edged down to 3.9 percent, the first time it has gone below 4.0 percent since 2000.
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Nominal wage growth continues to fall short, rising only 2.6 percent over the year. This is clear evidence that despite the low unemployment rate (3.9 percent) the economy is not yet at full employment.
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The prime-age employment-to-population ratio was unchanged in April. Again, the unemployment rate overall and for workers 25-54 years old fell for the "wrong" reasons. More people leaving the labor force than getting jobs.pic.twitter.com/wI9qOWM1OO
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Unemployment rate hits new low for the recovery, but for the "wrong" reasons. https://www.epi.org/press/unemployment-rate-hits-new-low-for-the-recovery-but-for-the-wrong-reasons/ …
@EconomicPolicy#JobsReportpic.twitter.com/a4T8p24TFn
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I cannot overstate the volatility of black and Hispanic unemployment rates, but it appears that the fall in the Hispanic unemployment rate was accompanied by increasing participation and employment, while the fall in the black unemployment rate was not.pic.twitter.com/wN9NhQafxu
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Nominal wage growth continues to fall short rising only 2.6% over the year. Continued slow growth tells us that employers still hold most of the cards and don’t have to offer higher wages to attract workers. In other words, workers have very little leverage to bid up their wages.pic.twitter.com/k8xDo0pcE6
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This slow wage growth is a sign that slack still remains in the labor market. As of yet, there is little evidence that the labor share has begun any reliable rise following its long fall in the recovery from the Great Recession.pic.twitter.com/0FRStveFXO
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We are not at full employment. The slack is clear in the slow wage growth. Also, in the fact that about 7 in 10 newly employed workers are coming from out of the labor force. Workers sidelined by the Great Recession are coming back and will keep at it as the economy strengthens.pic.twitter.com/zMM9D5ev1j
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"It defines unemployed people as those who are willing and available to work, and who have actively sought work within the past four weeks."https://www.investopedia.com/terms/u/unemploymentrate.asp#ixzz5EXXQ1ktD …
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I assumed she was comparing now to 2000 and since 2.7% less of that demographic is not participating that the number now is slightly higher than 3.9% if you're comparing apples to apples.
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