6 votes

US unemployment falls to 3.9% - lowest since year 2000.

2 comments

  1. [2]
    arghdos
    Link
    As always, it's important to note that the uncertainty of any top-line "Jobs Added" number is +/- 120K in either direction. Focusing on the number of jobs added itself is rarely productive, but...

    As always, it's important to note that the uncertainty of any top-line "Jobs Added" number is +/- 120K in either direction.

    Focusing on the number of jobs added itself is rarely productive, but the overall trend of falling unemployment is good news

    2 votes
    1. huadpe
      Link Parent
      I think it is a bit of a mistake to focus on the one jobs number in isolation of broader trends. As Justin Wolfers points out this month's numbers are very much in line with long term trends. The...

      I think it is a bit of a mistake to focus on the one jobs number in isolation of broader trends. As Justin Wolfers points out this month's numbers are very much in line with long term trends.

      The revisions this month, which are more reliable, are also in line with those trends, and so we can take this month as yet another confirmation that current trends appear to be continuing, with no immediate indication of strong inflationary or recessionary pressure.

      2 votes