We're also in a peak where the global economy has soared to heights never before seen in a very long bull market run. That mainly explains the low unemployment. What will happen during the next recession when businesses are forced to cut costs and desperately start looking for savings?
We have had bull markets before and unemployment rate was higher the recession and then recovery. Why would this bull market be different? You also need to consider that the % of the working age population with a job is higher than it was in the past. I don't think it is reasonable to extrapolate the past into the future. Demographics are changing radically and it will have a huge impact on the nature of work.
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