Biz, U.S.: Why the drop in unemployment is less impressive than it seems
- 9.7% the current jobless rate, a five-month low source
- Why this seems good After months of hovering over the 10% mark, it seems like (on the surface) we’re finally cutting into the economy’s debilitating factor. Obama has been feeling pressure on this for months now.
- Why it really isn’t Payrolls still cut by 20,000 despite unemployment, which suggests that some people have stopped looking and are no longer counted. Also, some major industries are struggling, including construction.
- Some promising signs Despite the job market’s mixed signals, there are signs the worst is over. Workweeks are longer, overtime is going up, more temps are getting work, and average earnings are up too. source