… at least lets hope so right 😉
Unemployment rate rose to 6.8%, and the employment rate is at its lowest level since June 2003. Further (relative to seasonal) weakness in part-time employment was the kicker here – which is why total hours worked (the size of the labour input in a sense) still rose.
Relative to many other countries our unemployment rate is still low – but the fact that a rising proportion of people are out of work for a long time is concerning, as these are the people that really struggle (loss of human capital, happiness, etc).
One thing I will say is this: