FAST FIVE: Forget Lower Jobs Growth, The Number Of People Who've Stopped Looking For Work Is Much More Worrying
Let me explain why you should be paying more attention to the participation rate.
For this reason, slowing employment growth and rising unemployment are worrisome.
But while the unemployment rate is currently near a 50-year low of 3.6%, that statistic doesn't tell the full story and can mask a deterioration in the labor market.
Possible reasons include the relative lack of parental leave and child-care policies compared with these other economies, as well as the greater opportunity for part-time work.
There are appropriate concerns about the cyclical headwinds facing the US economy, and the May jobs report does little to offset those worries.