[rhino369]

The jobless rate is an indicator of difference between demand and supply for employees. With people out of work, of course salaries will shrink.

That will change when the jobless rate returns to normal.

[epicureanideal]

A very poor indicator, given that it doesn't count workers who have given up looking for a job because none were available.

[YokoZar]

This criticism of unemployment statistics is parroted whenever an unemployment discussion is had. But those discouraged worker numbers are tracked too. They tend to go together, and the recent news about hiring increases is not due to a massive increase in discouraged workers.

Sometimes there really is a net increase in employment.

[rhino369]

If they gave up, they aren't really in competition.