Unemployment rate obsession by Paul Overberg

“Obsession can take over your life. Make sure you are obsessed with things that result in a payoff for you.” – GC

Unemployment rate obsession by Paul Overberg

Market players and financial journalists are hyper-focused this week over the April unemployment report, which is due Friday, following a shaky March report.

But the unemployment rate and job growth are inadequate measures. Adding people who can only get part-time work or have given up looking, for example, nearly doubles the unemployment rate of 5.5%.

DataHut Paul Overberg Grant Cardone Unemployment

Some of the rate’s recent improvement is due to boomers swelling the retirement ranks. Workforce participation – the share of people 16 or older who are working or looking for work – has dropped from 66% to under 63% since 2008.

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