The unemployment rate is 2.3% and why it is not always pleasing to record historically low level



Employment statistics in the US were announced and the unemployment rate in October 2018 became clear. There are indications that Hawaii, which is the top of the whole, recorded a 2.3% unemployment rate, which is a historically low level of unemployment in the whole of the United States but can not be delighted by letting go.

Unemployment rate lowest in Hawaii, highest in Alaska, in October 2018: The Economics Daily: US Bureau of Labor Statistics
https://www.bls.gov/opub/ted/2018/unemployment-rate-lowest-in-hawaii-highest-in-alaska-in-october-2018.htm

Hawaii's unemployment rate is a shockingly low 2.3% - Quartz
https://qz.com/1477857/hawaiis-unemployment-rate-is-a-shockingly-low-2-3/

The Department of Labor Bureau of Labor Statistics (BLS) of the United States of America announced the unemployment rate of all the provinces on November 28, 2018 local time. It is clear that the unemployment rate in the whole of the United States is at a very low level, such as the decrease in all 18 states whose unemployment rate has changed compared to October 2017.

The unemployment rate by state is as follows. The lowest is 2.3% in Hawaii. The unemployment rate has been at historically low level under the strong US economy such as Iowa State, New Hampshire State, Idaho State, Nebraska State, North Dakota State, Vermont State, Virginia State, below 3%.


On the map, the unemployment rate is somewhat higher on the West coast, but most of the states are within the overall average of 3.7%, the regional disparities in the unemployment rate are low.


There are experts who point out that it is not necessarily good news though it is the unemployment rate of the United States which recorded the lowest in the past 50 years. Eugene Tien of the Department of State's Department of Economic Development and Tourism said, "The situation that the unemployment rate is extremely low may indicate that the economy has entered a gradual growth path."

According to Quartz , looking back on history, there is data showing that "very low unemployment is a harbinger of the subsequent recession". In 1929 when the Great Depression occurred, the unemployment rate fell to 3.2%, but within 2 years it rose to 15.9% and a serious economic slump took place. In 1952, when the lowest unemployment rate was recorded at 2.7%, the unemployment rate increased to 5% when the Dow average returned to the 1929 level, and in 1970 the unemployment rate, which was 3.5%, will rise rapidly to 6.1% It is.

From the low unemployment rate of 3.7%, it is not necessarily said that the economic crisis will occur in the United States in the near future, but for too low a unemployment rate, the healthy employment market where the labor force kept moderately liquidity There seems to be a concern that it should be returned to "5%" of the level seen in

in Note, Posted by darkhorse_log