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Friday, December 2, 2011

Unemployment Falls to 8.6 Percent

“The unemployment rate fell last month to its lowest level in more than two and a half years, as employers stepped up hiring in response to the slowly improving economy. The Labor Department says the unemployment rate dropped sharply to 8.6 percent last month, down from 9 percent in October. The rate hasn’t been that low since March 2009, during the depths of the recession…. Still, one reason the unemployment rate fell so much was because roughly 315,000 people gave up looking for work and were no longer counted as unemployed.” (Washington Post)

That’s one way for the numbers to look good.

FEE Timely Classic
“The Natural Rate of Unemployment” by Hans F. Sennholz