Well, howdy there internet people, it's Bell again.

So today we're going to talk about unemployment, economics, rules, and where we're at.

All over social media right now, we're seeing talk about unemployment rates and references to something

known as the Somme rule. So first let's go over the information that

started the discussion.

The U.S unemployment rate is now at 4.3%.

Okay, so if you're familiar with basic economic ideals under a capitalist system, you're probably shrugging your

shoulders and wondering why we're talking about it. 4.3% is definitely within the 3 to 5%

ideal that economists like.

The discussion was sparked because of something called the Sommer rule.

It uses a moving average over a three month period to measure unemployment and compare it to earlier data to watch for an increase over time as an early warning system to recession.

One of the key benefits of using the metric like this instead of a simple glance at the monthly number

is avoiding overreacting to a single data point, an element that might have been forgotten judging by current reactions.

The Sommer rule has been triggered and social media is full of takes about what it means.

After talking to people familiar with the history of the rule, some of these

takes are pretty amusing. My personal favorites are those talking about it as if it's an

ancient rule and described what the economists behind it would have thought.

They confidently state how he would have reacted and what today's readings would have meant

to him.

Okay. Well she is still alive and given interviews. Her

name is Claudia Somme, a former Fed economist. Under the rule we would be in a recession by October. She said

I expect the unemployment rate to drift up further this year but it's unlikely

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