But that transformation is simply not reflected when looking at unemployment through the limited lens of the payroll data.
"But I don't think the Fed will want to provide stimulus with the economy growing at a moderate rate" and unemployment only about 5.5 percent.
"That could explain why inflation is lower than you'd think just looking at unemployment," Professor Frankel said.
Inflation stood at 4.2 percent and unemployment at 3.6 percent.
The research goes on to look at unemployment being one of the key drivers of unhappiness.
Is inflation a more pressing problem at present than negligible growth and high unemployment?
People are invited off the street to receive prayer for whatever they are now going through, whether it's illness, problems at home or unemployment.
Even before the latest events, we were looking at a 30% fall in income, unemployment at 40% and poverty levels of 67%.
We need to strike at poverty and unemployment.
They will look at unemployment - and I know everyone has been talking about it.