Wall Street Journal staffer Ben Leubsdorf checks in with a "Baker's Dozen" worth of economists, who offer a sound-bite of insight into Friday's March jobs report from the Labor Department.
One economist notes that although the unemployment rate notched up a bit for March, it did so for "all the right reasons," namely continuation of the expansion of the labor force, which has increased by 2 million in the past five months sol.
Lots of the experts here are looking carefully here at U6, which looks at unemployed, ‘under employed’ and too discouraged to even look for a job leveling off as people become more encouraged about looking for work. Leubsdorf quotes Credit Suisse's Jeremy Schwartz here:
“Details from the household survey were mixed. The unemployment rate ticked slightly higher to 5.0%, and the broader U-6 underemployment rate rose…to 9.9%. However, the participation rate and employment-to-population ratio both increased as well. When adjusted for the aging of the population, the employment-to-population ratio has now recovered to early-2000s levels.”
Good news and 'oh well,' news.