I’d love to see a breakdown that tries to account for the recent changes in federal employment.

Most of the 300k people leaving their positions are still officially employed but they are definitely indirectly impacting the unemployment rate by competing for the limited positions available.

Some large chunk of them retired, though, and with the hiring freeze in place those positions aren’t being replaced. That’s definitely suppressing change in employment numbers.

This matters because these are nonproductive jobs and will not affect the economy in the same way as changes in private sector employment.