Rubberband_Charlie
Council Member
So...we had a "strong jobs report" today according to the media and this administration...so lets look at some numbers from the Department of Labor, shall we?
The January 2020 unemployment rate sat at 3.6% and the Labor Force Participation Rate was 63.4%.
The most recent reports for July 2022 claims 3.6% unemployment and the Labor Force Participation Rate is 62.1%.
So, we're being told over 500k jobs were created, we have 1.3% less people in Labor Force Participation, and the Unemployment rate is the same. Maybe the same people explaining that wages increasing by 5% are better off while experiencing 9% inflation can put their spin on how these numbers add up.
The January 2020 unemployment rate sat at 3.6% and the Labor Force Participation Rate was 63.4%.
The most recent reports for July 2022 claims 3.6% unemployment and the Labor Force Participation Rate is 62.1%.
So, we're being told over 500k jobs were created, we have 1.3% less people in Labor Force Participation, and the Unemployment rate is the same. Maybe the same people explaining that wages increasing by 5% are better off while experiencing 9% inflation can put their spin on how these numbers add up.