Why we need to proceed with caution when it comes to job market data
Despite the data for June is far better than what was expected and predicted by economists, we need to proceed with caution when it comes to the labor market because there is still a lot of inequality and unemployment gripping the nation. Despite two months of rampant growth in June and May, we are still down nearly 14.7 million jobs since February alone. Despite the unemployment rate coming down, it is still higher than the Great Recession.
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