Low unemployment literally means nothing by itself.
Say you have 100 workers and 10 dont have jobs and are actively looking for jobs/fit unemployment, thats 10% unemployment. Next month you have the same 100 workers and the 10 give up looking for a job and no longer fit what unemployment is, technically your unemployment is 0%, but no jobs were created and its at an all time low!
Thats why you look at U5 and U6 data, which is also near all time lows:
Low unemployment literally means nothing by itself.
Lmao so first you complain about the unemployment statistics not accounting for discouraged workers, then I show statistics which does and now you complain low employment literally doesnt mean anything. Ok, your statement sounds perfectly reasonable, Im sure every economist in the world will say the statement low unemployment literally means nothing is an intelligent statement on how economies work.
But lets play by your rules, what more has to be taken into account with a low unemployment rate that shows we have a growing/strong economy? and whatever that is, is that weighted more or less than the U5 and U6 unemployment rates in terms judging the strength of the economy?
How about the fact that wages are still stagnant compared to inflation? Oh wow, so if people are getting jobs, its not enough to provide.
Also doesnt count for people having to work multiple jobs to survive.
So again, low unemployment by itself literally means nothing. I dont know how I can make this anymore clearer to you. Low unemployment BY ITSELF literally means nothing.
But continue to tout that wasting government resources on make me feel better rallies is a good thing for America and its super low unemployment. ---