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December 11, 2011

"If the same number of people were seeking work today as in 2007, the jobless rate would be 11 per cent"

America is employing a decreasing proportion of its people.
At the start of the recession, the employment-to-population rate was 62.7 per cent. The rate is now 58.5 per cent. Last month, unemployment fell from 9 per cent to 8.6 per cent. On the surface, this looked like a welcome leap in job creation. In reality, more than half of the fall was accounted for by a decrease in the numbers “actively seeking” work. The 315,000 who dropped out of the labour market far exceeded the 120,000 new jobs. -- Can America regain most dynamic labour market mantle? - FT.com

Posted by gerardvanderleun at December 11, 2011 9:47 PM. This is an entry on the sideblog of American Digest: Check it out.

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