January jobs report was phenomenal. 517,000 jobs were added in January. Far above expectations and above the trend the last few months. Unemployment is down to 3.4%. That's the lowest unemployment rate since 1951.
If inflation continues moderating, we might manage the soft landing that seemed unrealistic last year.
We are basically back up to having two job openings for every unemployed individual. An absolutely tight job market. Yet still seeing inflation moderating for the time being. Let's see if this continues.
Unemployment is now down to its lowest point since 1951.
It is understandable to find the official unemployment rate not comprehensive, but BLS tracks several different unemployment metrics. They are all trending down. U-6 is the broadest measure of unemployment, including people that want a job but haven't searched in the last month and people that are involuntarily part-time, and it is at the lowest point in the available