The job report came out yesterday. And, the WOW factor was in place. (However, don't believe the headlines.) The unemployment rate went from 5.7% to 5.5%. The reason for decline in the unemployment rate is in the denominator. That is, the number of unemployed Americans "dropped" by 274,000 while those employed Americans rose by 96,000. (1 new person employed for every 2.9 individuals who dropped out.) And, the labor participation rate dropped to a 37-year low! But, the BLS states that everything is fine.
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