"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."
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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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