Source: Beat The Press
by Dean Baker
“New York Times columnist Peter Coy raised an interesting point about the September jobs data in his column this week. Most of us were celebrating the 254,000 job gain reported for the month, in addition to the upward revision of 72,000 jobs to the prior two months’ data. Perhaps even more importantly, the household survey reported the unemployment rate fell 0.1 percentage point to 4.1 percent, a level that is very low by any historical standard. … But Coy pointed to another item in the jobs report. There were 3.45 million people (2.0 percent of the workforce) who reported being unemployed in August, who still reported being unemployed in September. Coy points to this, as well as some other data, and cautions that Vice-President Harris should be cautious about touting the current state of the labor market.” (10/09/24)
https://cepr.net/should-kamala-harris-be-celebrating-the-labor-market/