""The unemployment rate dropped, but for the wrong reasons: a loss in labor force participation," Swonk told Fortune."
""The broader U-6 measure of unemployment, which captures exactly those discouraged workers plus those stuck in part-time jobs when they want full-time work, actually edged up to 8%, even as the headline rate improved.""
""We entered this year with a tailwind, and now that's being wiped out by the headwinds.""
In March, the U.S. economy added 178,000 jobs, lowering the unemployment rate to 4.3%. However, this decrease is attributed to a decline in labor force participation, particularly among prime-working age men and young women. The broader U-6 unemployment rate rose to 8%, indicating an increase in discouraged workers. Hiring rates have fallen to their lowest since April 2020, and the three-month moving average shows only 68,000 jobs added. Overall, the job market remains weak, with concerns about future economic headwinds.
Read at Fortune
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