This claim is partly true, but it needs way more context. It’s accurate that the unemployment rate dropped to 3.4% in early 2023, and that really was the lowest it had been in about 55 years. The issue is that the claim makes it sound like this just happened or is still happening now. In reality, that low number didn’t last long, and the unemployment rate has gone up again since then.
Another problem is that one number can’t tell the whole story about how the job market is doing. Some groups of people still struggle with long-term unemployment or unstable work, even when the national average looks good. So the claim isn’t completely wrong, but it’s definitely incomplete. It’s a good example of how economic stats get used in headlines without explaining the bigger picture.
