"The decline in unemployment, meanwhile, came because of what many economists call the "wrong" reason – people dropping out of the labor force. Because fewer Americans were looking for work, the jobless rate fell 0.2 percentage points from October to November.Normally, in a job market that's growing stronger after a recession, rising employment should coincide with rising numbers of people reentering the labor force."
Friday, December 07, 2012
Economy
More people drop out of the work force, lowering official unemployment rate to 7.7 percent.
But this isn't a recovery. This is a continuing recession that only seems to be a recovery because inflation is artificially boosting GDP numbers.
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