Why the new 8.9% unemployment rate is a big fat lie

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At this rate, the economy will never become a real, live boy.

“People think unemployment is going down, but if it’s just because people are giving up, it’s a little misleading,” says Marisa Di Natale of Moody’s Analytics, an economic research firm. “Over the past few months in particular, much of the decline in the unemployment rate is because the labor force has declined so rapidly.” [NPR]

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