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Unemployment Was Still Below 4.0 Percent in May [1]

['Dean Baker']

Date: 2024-06-07 23:59:31+00:00

This is a bit nitpicky, but still a point worth making. If the unemployment rate came in below 4.0 percent in May, it would have been the 28th consecutive month of below 4.0 percent unemployment, beating the 27-month streak in the late 1960s boom. Unfortunately, the rate ticked up to 4.0 percent, so it seems that we just tied the 1960s streak.

However, if we go behind the rounding, the unemployment rate was actually 3.96 percent in May, still under 4.0 percent. This means that we did have 28 consecutive months of below 4.0 percent unemployment.

I’ll leave this one for the refs to determine, but I did want to get the numbers right.

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[1] Url: https://cepr.net/unemployment-was-still-below-4-0-percent-in-may/

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