The rising unemployment rate was 'the best news' in the August jobs report, economist says. Here's why
Catherine Mcqueen | Moment | Getty Images The unemployment rate ticked up to 3.7% in August, the Labor Department said Friday. While more people becoming unemployed may sound alarming, especially against the backdrop of lingering worries about a recession, the increase was for "good" reasons, according to labor economists. A higher unemployment rate was "the best news in this report," according to Julia Pollak, chief economist at ZipRecruiter. That may seem counterintuitive. How can an increase in the jobless rate be positive? The answer lies in the labor-market dynamics underpinning the jump. More from Personal Finance: White House fires back at Republicans planning to challenge student loan forgiveness These states may tax federal student loan forgiveness These bank fees could be taking a bite out of your budget Why the unemployment rate increased in August The unemployment rate increased by 0.2 percentage points from 3.5% in July — a level that had tied with ear...