How closely do you follow the monthly employment numbers published by the Bureau of Labor Statistics?
We watch the employment data very carefully and dissect the individual markets that are most heavily served by our uniform rental companies to get a better idea of how the employment situation is developing in these key markets. The January unemployment rate fell slightly to 9.7%, down from 10.0%. We find a more accurate picture of the true unemployment picture may be the U-6 unemployment rate. This number includes involuntary part-time employment and discouraged workers such as unemployed workers who have ceased looking for employment. While this metric also decreased in January, it is a much higher number at 16.3%. What insights about the employment picture do you receive from the companies you cover? Our uniform rental companies are still dealing with highly challenging macroeconomic conditions. While we are starting to see signs of stabilization in volumes, some of the markets these companies serve are continuing to see employment declines, and positive year-over-year growth is sti
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