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Eric Basmajian reports that, according to the household survey, the U.S. unemployment rate declined by 0.2% over the past six months.
He explains that this drop was driven by a loss of 920,000 jobs alongside a decrease of 1.371 million in the labor force during that period.
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Basmajian has previously noted computer equipment investment reaching 1.3% of GDP, a level above the dot-com era peak, in recent reporting. In another article, he observed that only 23 cents of every investment dollar is currently used to build new assets, with factors like AI and software depreciation affecting this trend (full article). These observations add further context to his analysis of shifts in employment and the labor force.