Sure is a good thing the Trumpista gang extorted $350 BIL from the consumers and businesses of the US last year, increased their production costs by blocking Russian fuel, and added more to the debt, which will inspire more money-printing to buy said govt debt. Surely, all that money would not have been put to good use, and central planners know best.
Americans can't find jobs.
The number of Americans not in the labor force who currently want a job rose 76,000 in May, to 6.2 million, the 3rd-highest since July 2021.
These are people who are not officially part of the labor force, meaning they are not actively looking for work, but say they want a job.
This marks the 4th consecutive monthly increase, totaling 349,000.
Since March 2023, this figure has surged by 1.2 million people and is now above 2008 Financial Crisis levels.
As a % of total employment, this metric is up to 3.8%, the 2nd-highest since October 2021.
By comparison, the 2001 recession and the 2008 peaks were 3.6% and 4.3%.
Labor market conditions are deteriorating beneath the surface.