Unemployment Drops to 8.1%

by Ryan on May 5, 2012

in Economy,Election 2012

Why is it that the unemployment rate goes down at the same time more people aren’t working?  Welcome to the Obama Nation in re-elect mode!

Unemployment officially dropped to 8.1% (U6 held steady  at 14.5%) in April, but more people left the workforce nonetheless — the proportion of Americans not working hasn’t been this low since 1981.  With a smaller universe of jobs to count, the rate declined.  It’s a sign of weakness, not of strength.

Still, I’m willing to bet that barring any unforeseen trauma the unemployment rate hits the magic re-elect 7.1% in the October jobs report on November 2, despite how many people are actually working.

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