Monday, March 11, 2013

Unemployment Numbers Revised


Unemployment Falls to 7.7%, Sort of… U.S. unemployment dropped 0.2 percentage points to 7.7% from 7.9% in February, but this drop was totally accounted for by a net 300,000 people leaving the workforce.

The Bureau of Labor Statistics reported from the Household Survey that of 150 million, 300,000 more people dropped out of the labor force. This is the exact 0.2 percentage-point drop reported in unemployment, so there has been no real gain – or loss – on this front.

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