Discover and read the best of Twitter Threads about #U3

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US #Employment Disconnect?

⬆️ Stronger NFP 850k vs 720k exp; 583k prev
v/s
⬇️ Higher Unemployment 5.9% vs 5.6% exp; 5.8% prev

To add to @jasonfurman:
Chart: Household Survey (Employment) historically more volatile than Establishment Survey (NFP)


1/5 Image
U3 v/s U6:
Well noted by @AndreasSteno; while normal Unemployment Rate U3 rose (5.8%=>5.9%), U6 fell (10.2%=>9.8%)

U3 = Total Unemployed / Civilian Labour Force
U6 = (Total Unemployed + marginally attached + employed part time for eco reasons) / CLF

2/5
ImageImage
#U3
5.9% vs 3.5% (Feb'20) vs 14.8% (Apr'20 peak)

#U6
9.8% vs 7.0% (Feb'20) vs 22.9% (Apr'20 peak)

Both are still some distance away from pre-pandemic level but U6 has shown more consistent improvement than Official U3

3/5 Image
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