It is a meaningless figure. It doesn't measure the scores of millions who are underemployed or who have dropped out of the workforce because they could not find work.
There ain't gonna be any wage inflation. And as I keep saying, they cannot raise interest rates to any significant level without risking a default on the U.S. debt.
Had they maintained interest rates at around 5 percent, savers would have kept spending and the economy would be much better.
I think we are about to hit another recession, assuming the last one really ended.
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