The Low Unemployment Rate Is A Momentary Calm Before The Coming Economic Storm

On Friday the U.S. Bureau of Labor Statistics released its November jobs report, announcing that the unemployment rate had dropped to 4.6%, the lowest it's been since August 2007. According to this measure, the U.S. economy is at or very close to full employment. The White House touted the news, highlighting that U.S. businesses created 178,000 jobs in November and 15.6 million since early 2010. To some, the economy is returning to its pre-recession strength. To others, the unemployment rate is a poor gauge of economic health.