P@triot
Diamond Member
- Jul 5, 2011
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The jobs report released Friday by the U.S. Department of Labor revealed that 288,000 jobs were created in April, the biggest gain in more than two years, and that the headline unemployment rate dropped 0.4 percentage points to 6.3%, the lowest level in 5½ years.
Great news, right? Not necessarily.
The unemployment rate tumbled in April not because of all the new jobs created last month but rather because more than 800,000 people either stopped looking for a job or left the job market for other reasons (retirement, for example).
Big Downside to April Jobs Report
Great news, right? Not necessarily.
The unemployment rate tumbled in April not because of all the new jobs created last month but rather because more than 800,000 people either stopped looking for a job or left the job market for other reasons (retirement, for example).
Big Downside to April Jobs Report