<<U.S. job creation grew at a distressingly slow pace in August, as employers added just 96,000 positions and more discouraged people stopped looking for work, the Labor Department reported Friday.Despite the weak growth, the unemployment rate dipped from 8.3 to 8.1 percent. But even that was bad news. The jobless rate shrank only because more than 300,000 workers dropped out of the labor force in August, following a trend that has accelerated with the nation’s economic problems. >>http://www.washingtonpost.com/business/economy/us-adds-96k-j...
The jobless rate shrank only because more than 300,000 workers dropped out of the labor force in August, following a trend that has accelerated with the nation’s economic problems.Not so!The Bureau of Labor Statistics does not, as far as I know, keep very detailed statistics on most of these motivations. But they actually do check to see how many of the workers are out of the labor force because they’re discouraged about being unable to find work. And that number actually fell by 8,000 people between July and August, reaching it’s third-lowest point this year. Just below that paragraph is a chart that shows the number of discouraged workers from Jan. '08 thru Aug. '12.http://www.washingtonpost.com/blogs/ezra-klein/wp/2012/09/07...
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