Low Current Unemployment Rate Accurate Measure of Job Market

According to a new study by the Federal Reserve, for the first time in a long time the unemployment rate is providing a pretty accurate picture of the current state of the U.S. labor market.

In an article filed by Reuters, the Federal Reserve’s report reveals that the current jobless rate, at an historically low 4.8 per cent, is an accurate indicator of job market conditions. Previous reports have often skipped or miscalculated hidden unemployment ? former workers who, for a variety of reasons, do not file for unemployment benefits ? and presented skewed employment results. Numbers released in February, though, are “not artificially masking the extent of unemployment.”