Hmmm... I wonder if this has something to do with the record low labor-participation rate I saw reported this morning.
Every now and then they let slip the accounting magic tricks they are pulling. Look for the term “Unemployment claims.” And the absence of the term “Full time.” They changed the “unemployment” formula to 1. Use applications for unemployment insurance as the measure of “unemployment.” A number that will consistently drop as less and less people working means less and less qualify to apply for unemployment insurance benefits when they lose their job. And, 2, they also use the generic term “jobs” to cover that they are now including part-time jobs in the formula. so a person with 2 part time jobs gets counted twice, etc.
Bottom line - its all smoke an mirrors.