The Ostensible Good News Regarding Unemployment

by Pejman Yousefzadeh on February 3, 2012

We are to believe that because the unemployment level has fallen to 8.3%, that we are at the brink of enjoying a self-sustaining economic recovery complete with job creation.

I would like to think that is true. Honestly, I really would. But I have my doubts that all is well with the employment market, though I certainly don’t have any doubt that most journalists will not be discerning enough to figure out that there is a great deal of bad news to be found in studying the employment figures.

Of course, we are in a political season, so don’t expect the Obama administration to make the point that the unemployment numbers may be falling because people are leaving the workforce.

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