Why The Unemployment Rate Went Down
2 July 2010
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Despite the economy losing jobs in June, the unemployment rate actually decreased. Why? Because the calculation doesn’t factor in those who are not actively seeking jobs. Yes 125,000 net jobs were lost, but 652,000 stopped looking for jobs. The result, a decrease in unemployment! So, if only everybody who is unemployed would just stop “actively” looking for a job, we would have zero unemployment! (heavy sarcasm)
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