Why Are We Kneecapping the Recovery?

The July jobs report shocked almost everyone. It wasn’t entirely rosy—e.g. the unemployment rate ticked up slightly for blacks and for teens (16 to 19 years), the number of people working part-time for economic reasons moved slightly higher, the labor force participation rate (and employment-to-population rate) fell off a bit, and the number of people working multiple jobs jumped +92,000, a whopping 549,000 more versus July 2021.

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