Zooming in, the U.S. unemployment rate is actually rising.

"Fed Whisperer" Nick Timiraos wrote that based on unrounded data, the unemployment rate in May rose from 4.187% in April to 4.244%. The highest unemployment rate last year occurred in November 2024, at 4.231%. It can be said that the U.S. unemployment rate in May is the highest since October 2021 (when it was 4.500%) (unrounded).

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