Official Jobless Rate Low, But 'Functional Unemployment' Continues to Climb, Raising Concerns About Labor Market Strength

Summary

While the official US jobless rate is low, an alternative measure from the Ludwig Institute for Shared Economic Prosperity, which includes the "functionally unemployed," has been rising for four consecutive months, reaching 24.9% in July. This suggests a potential weakening of the labor market despite official figures, with significant disparities observed across demographics, particularly for women.