from24/7 Wall St.
2 days agoWhen Will Unemployment Go Back To 5%
The last time unemployment was 5% was in August 2021. The job market was rebounding from the COVID-19 pandemic, which had driven the jobless rate to 14.8% in April of the previous year. Economists often refer to 5% as "full employment." Above that level, there is a possibility of an inflationary increase. The jobless rate was 4.2% in July. It is up a fraction from 3.4% in April of last year.
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