An Update on the Job Market

by Pejman Yousefzadeh on January 6, 2012

The numbers look encouraging, and I for one would like to believe that the sense of encouragement is justified. But when one performs a deeper dive on the employment figures, one has reason to be apprehensive.

Of course, at the end of the day, we still have an unemployment rate of 8.5%. That’s better than we have had in a while, but it says something about the still-parlous state of the American economy that we are celebrating a rate of joblessness that should normally be a cause for alarm.

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