Get a load of this: U.S. employment growth stalled in May
Job growth faltered in May, with employers boosting payrolls by just 75,000. Yet the nation’s unemployment rate dipped to 4.6 percent, the lowest since the summer of 2001…
The payrolls figure and the unemployment rate come from two different statistical surveys, which can sometimes provide — as in Friday’s case — a somewhat conflicting picture of what is happening in the labor market.
Murdoc wonders if there really is a conflicting picture here. Isn’t it maybe possible that the slower job growth has something to do with the fact that fewer people are looking for work? If unemployment by the survey (which counts people out of work who are looking for work) is down, that means that there are probably fewer people available to hire. It would be interesting to know if employers consider themselves fully-staffed or if they’re complaining of a shortage of good candidates to fill open positions.
This sort of reminds me of all those conflicting “There are more people in prison than ever before! (As a side note, the crime rate is down.)” pictures.
UPDATE: Then there’s this.