63.3 Why You Should Not Be Happy with 6% Unemployment
———Part 3 Summary———
America’s unemployment rate is a miraculously low 6% – a remarkable achievement. But behind the headlines is the sad fact that labor force participation is awful.
———Ep 63.3 Topics———
00:05 The US March 2021 payroll report delivered great headline news, beating expectations too
02:05 Behind the headline good news is unquestionably bad news: the labor force participation
03:56 The official US unemployment rate of 6.0% is very good! But what about the unofficial?
07:24 The U-6 rate of marginally attached and part-time for unemployment is 10.7%
10:18 Including all respondents that want a job and unwanted part-time employed 13.4%
13:22 Labor Force Participation today is at 61.5%, short of 2018-19, 2006 or 2000 participation
16:19 Might the labor force slack be as large as 20 million?
———Ep 63.3 References———
Jeff Snider, Head of Global Investment Research for Alhambra Investments and Emil Kalinowski. Art by David Parkins.