Federal Reserve Spokesperson: Employment growth diverges from household survey data
December 6th news, "Fed's mouthpiece" Nick Timiraos stated that the unemployment rate, arguably the best summary statistic in monthly employment reports, rose to 4.2% in November. The unrounded data is 4.246%, very close to the recent high of 4.253% set in July. Business surveys show good job growth. However, household surveys indicate that the proportion of working Americans (including those aged 25-54) has declined compared to a year ago. The number of unemployed people is at 7.145 million, also near July's peak of 7.163 million.
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