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Is the Job Market Really Booming | Miami News
Description
The official unemployment rate looks good at 4.1%, but a deeper metric called the True Rate of Unemployment (TRU) reveals a troubling trend—rising to 24.9% in July, capturing those stuck in part-time work or earning below $26K. While some economists dispute the TRU’s validity, pointing to historically healthy job market indicators, the real issue is wage growth lagging behind inflation and employers cutting back on hiring, putting pressure on consumer spending and everyday finances.
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