BUSINESS14h ago
The official jobless rate is so low the Fed thinks the economy is at full employment. But a gauge of the ‘functionally unemployed’ keeps climbing
FO
Fortune
Original Reporting
AI EXECUTIVE SUMMARY
While the official unemployment rate remains remarkably low, an alternative measure tracking the functionally unemployed continues to rise. This divergence suggests potential underlying weakness in the labor market that contradicts standard headline figures.
WHY IT MATTERS
It reveals a hidden strain in the workforce that standard economic indicators currently overlook, offering a more nuanced view of actual job market health.
"If this continues, it would suggest the labor market is losing strength despite what we may see in the headline unemployment numbers."
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