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May 04, 2012
Shocker: Economy Loses More Jobs And Yet Unemployment Rate Falls Again
Who could have foreseen this?
Both the number of unemployed persons (12.5 million) and the unemployment rate (8.1 percent) changed little in April. (See table A-1.)
And the labor force participation rate -- the ratio of people actually working?
That’s a new 30-year low in the participation rate. Here’s the chart from the BLS for the last 30 years:
Captain Ed notes that at least one cable news channel, CNBC, actually reports this:
Though the headline number indicated job creation, the total employment level for the month actually fell 169,000.