Because it’s not as tight as that 5.6% unemployment rate would lead you to believe. Over at PostEverything. I think figure 2 of the piece, below, tells an important part of the story, but you be the judge.
Light posting this week and not because I’m off to Cuba to walk the beaches before they become resorts. I’m trying to make some serious headway on my book “The Reconnection Agenda: Reuniting Growth and Broadly Shared Prosperity.”
Source: see data note in WaPo piece.