Jobless News Unexpectedly Murky

We're all discouraged workers now


Don't buy the rate drop to 8.6%.

Don't get excited about the 120,000 jobs gained.

All that matters is this figure, and it's jaw-dropping.

The unemployment rate, derived from a separate survey of households, was forecast to hold at 9 percent, according to the survey median. The decrease in the jobless rate reflected a 278,000 gain in employment at the same time 315,000 Americans left the labor force.

The labor participation rate declined to 64 percent from 64.2 percent.

Economists call that number "Discouraged Workers," and it's not something to celebrate.
(full story at lakeshorelaments.com)

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