So, unemployment jumped a little bit. From 5.1% to 5.5%. First, that's still good. Funny how that was a sign of a healthy economy some years back and now, for some odd reason, it's shit.
Second, it's not because a bunch of people lost their jobs. It's because of the market flood and the amount of people who won't find jobs as a result.
As a result of what, you ask?
The minimum wage hike. The jobs that won't be found are those that typically pay minimum wage to kids off from school wanting jobs for the summer.
See how that works?
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