Latest / The Macro Memo with Fexingo: Daily Conversations on Inflation, GDP, and Federal Reserve Policy
Why Job Seekers Are Giving Up Despite a Strong Economy
In this episode of The Macro Memo, Lucas and Luna tackle a puzzling contradiction in the latest jobs data: the unemployment rate dropped to 4.2 percent in June, yet the labor force participation rate fell to its lowest level in 50 years outside the COVID era. They examine the details behind the headline payroll gain of just 57,000 jobs, the role of discouraged workers who have stopped looking, and what this suggests about the health of the labor market heading into the second half of 2026. Lucas points to the steady rate of job openings — still above 7.5 million — as a sign that demand for…
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