Photo: Photo: procsilas (Flickr)
So despite the weak headline jobs-created number, the unemployment rate fell pretty markedly to 9.4%.The easy answer there is that, well, unemployment is a function, also, of the size of the labour force, and it could reflect people dropping out of the work force.
And yet, that’s not obviously what’s going on.
The weirdest thing is that U-6 — so-called “real” unemployment — fell pretty sharply to 16.7% from 17.0%. So that’s not the issues.
Anyway, stocks are down, but really not by that much. Perhaps the market smells a rat.
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