Friday, October 06, 2006

There's more to the labor market than the unemployment rate

Today the Bureau of Labor Statistics released the all important (at least to macro minds), Employment Report for the month of September. In the report, we find that the unemployment rate dipped to 4.6% in September from 4.7% in August for the United States as a whole.

Nevertheless, it’s a gloomy Friday in Macroland. How could that be? To get some clues see this post from one of the best blogs in the business at Calculated Risk. Calculated Risk is not outsourced, but is written right here in the O.C. You used to have to pay for this kind of analysis. Another good take on today’s rather gloomy jobs picture comes from the Economic Policy Institute

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