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- The April jobs report showed that the unemployment rate fell to a new 17-year low of 3.9%.
- A less obvious metric — the gap between this rate and the underemployment rate that includes discouraged workers — has also been shrinking since the financial crisis.
- It backs up claims by several companies that skilled workers are more expensive and harder to find, according to Tobias Levkovich, Citi’s chief US equity strategist.
- It also signals that wage inflation will continue rising, Levkovich told Business Insider.
There are a number of different ways to measure America’s unemployment levels.
When people talk about the unemployment rate, they’re referring to what’s technically known as the U-3 rate. It’s simply the total number of unemployed people as a share of the civilian labor force.See the rest of the story at Business Insider
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