The Low Unemployment Conundrum
While the nation’s unemployment rate hit a 16-year low of 4.3 percent, employment growth slowed and a number of workers left the labor force altogether.
When the Bureau of Labor Statistics released their much-anticipated employment report for May, many economists and market participants were caught off guard by the results. While the nation’s unemployment rate hit a 16-year low of 4.3 percent, employment growth slowed and a number of workers left the labor force altogether.
Why would employment growth slow and the labor force shrink when businesses are struggling to fill positions and many industries are facing labor shortages? Watch this month’s Economic Video Update with Robert Spendlove, Economic and Public Policy Officer for Zions Bank, to get his insight into these trends and analysis of what he sees going forward.
The division of Economics and Public Policy at Zions Bank informs and educates employees, clients, and the community-at-large by providing insight and analysis on issues related to local, national and global economic trends as well as federal banking policies. The primary goal of the Economic and Public Policy team is to help individuals and businesses understand important issues that can impact their daily financial decisions. For more information and analysis, please visit zionsbank.com/economy.
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