Payne's Perspective: September 8, 2020: Air Pocket
It was another week of solid economic news, capped off with a job report that was better than expected and substantially better than last week’s headline numbers. The monthly employment report from the Bureau of Labor Statistics (BLS) consists of two separate surveys: one that focuses on businesses, and the other from a point of view of Main Street.
Thus, 1,371,000 Americans went back to work in August according to the Establishment Survey, but the more nuanced Household Survey revealed even better news. It’s the household data that gives us the U-3 unemployment rate, which can be skewed positively even when the news is not great because it doesn’t count folks out of the labor force.
You always want to see the participation rate increase.
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