The June jobs report (JOLT) was released this morning and the data indicated some interesting dynamics in the labor market. Layoffs are up slightly, despite being at near historic lows, and the unemployment rate remained steady at 3.6%.
But underneath all these numbers is the labor participation rate - a look at the number of people who are working or actively looking for work. This is a number that often gets overlooked, but is an important gauge on the mindset of the worker.
Is the labor participation rate - and its slow uptick over the last few months - indicating something about the health of the economy?
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