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Originally posted by kupoliveson
So how is it that we lose 125,000 jobs and the unemployment rate drops by 0.2%? What is the point of keeping statistics if they so obviously do not reflect any real world numbers?
More important was the decrease in average hourly earnings and the workweek decrease. Both are pointing to a continuation of deflationary pressures. It's not serious - yet - but this isn't what you want to see if the employment situation is supposed to be improving and the economy is supposed to be recovering.
U-6 stands at 16.5%, which is down marginally (0.1%) from last month, while U-3 (the common "unemployment rate") came in at 9.5%.
We've managed a whole one percent improvement off the bottom: we were running around 63-64% from 2000 onward until 2007, we dove to 58%, and now have "recovered" to 59%. The so-called "improvement" in private hiring the last few months haven't moved the needle materially at all - indeed, the "real" improvement came from the first of the year until March.
If this is all we've got then the so-called "double dip" is assured. In point of fact, however, there was no material recovery from an employment perspective at all.