St. Louis Fed, Report: Different Measures of Unemployment, Is There Just One Number to Watch
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“One of the best-known measures of the labor market’s performance is the unemployment rate, which is a key economic indicator.”
“You may have seen that the U.S. unemployment rate in April 2020 peaked at 14.7% amid COVID-19 containment measures. And maybe you’ve seen news reports about the January 2023 unemployment rate, which the Bureau of Labor Statistics (BLS) reported was at 3.4%, a more than 50-year low.”
“To see the last time the rate was that low, you’d have to dust off your jetpack and head back to 1969. (That year, Neil Armstrong set foot on the moon and the Beatles gave their last public performance. So, why not?)”
