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The unemployment rate in the US is climbing. If you look at a 5-year curve, it looks like nothing. But if you look at a 3-year window it's devastating. Seeing the highs of 2003 and 2009 it seems likely that it will continue to climb. https://fred.stlouisfed.org/series/UNRATE

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If you'd like to be really upset, check the labor participation rate.

https://fred.stlouisfed.org/series/CIVPART

New grads have an absurd unemployment rate, so I'm sadly not surprised. And this is still hiding the true economic disparity since we can't see the quality of the jobs.

I'm "employed" but am doing part time work with no benefits. It's dreadful but I still contribute to the "low unemployment". As does others who defer to Uber or Doordash for quick cash. We need a complete overhaul of job numbers down the line.

The decrease is likely just the result of the demographic shift caused by an aging population, as the notes say. Unrelated to the overall health of the economy.

There's a whole lot that number doesn't capture, but broadly, U-3 is roughly flat and in the traditionally healthy range.

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