Depending on How You Look at It, Unemployment Might Be Increasing


Yesterday, we learned that the unemployment rate fell from 9.7 percent to 9.5 percent, the lowest it’s been since July 2009, but that’s largely because of people who have stopped looking for work. Business Insider explains:

Why have so many people stopped looking for a job, exactly? Officially known as “discouraged workers,” these folks are feeling increasingly “hopeless,” according to CNN: “A record 1.21 million people want to work, but said they aren’t looking because of the weak labor market … There are five workers for every available opening.” Heidi Shierholz, a labor economist at the Economic Policy Institute, said: “Things are very, very weak and they are not expected to strengthen anytime soon. It’s going to be a long slog.” Well with that attitude 

’America The Screwed: A Field Guide To Our Dismal Economy’ [Business Insider]
’Job gloom at all-time high’ [CNN]