Friday, February 4, 2011

Unemployment drops to 9%. Why hasn't the celebration started?

The unemployment fell to 9% in January. This is the lowest level since 2009. Why hasn't a celebration started? There is a very good treason[Freudian slip] reason. The U.S. economy only added +36,000 jobs. By contrast, Canada added +69,000 jobs. People are giving up in disgust on the recovery and dropping out of the job market. Theses people aren't counted as unemployed anymore. The labor force is now at a 26 year low.
Part of that drop has occurred as many of those out of work gave up on their job searches. When unemployed people stop looking for jobs, the government no longer counts them as unemployed.
Via Gateway Pundit:

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