5.5% is nearly full employment.....I remember reading that comment somewhere back when unemployment used to be consistently in the 6's and 7's.
There is about a 4.5% residual unemployed group that will never be employed.
Someone help me here. Did the new welfare laws REQUIRE job applications in order to continue receiving welfare benefits after a certain amount of time on welfare?
The unemployment rate isn't the big story here, payroll growth was abysmal, that's the story.
This is the rate where those who choose to remain unemployed barracade themselves to defend against prospective employers!
I think the unemployment rate will have to be around 5.1% for Bush to be assured of re-election. I also think gas is going to have to be under $1.70 and the stock market at 10,500 minimum and/or rising rapidly. These kinds of "close to home" indicators mean a lot more than all the ISM indices.