Sign of “hope”: 315,000 discouraged job seekers give up looking

I suppose that’s one way to knock the unemployment rate down a few notches.

Predictably, left-wing propaganda outlets like the New York Times ran with a slightly more optimistic headline. They want us to think the drop in the unemployment rate to 8.6% is actually good news. You might think it is, as long as you don’t bother reading down to the 8th paragraph:

American governments at all levels continued to bleed workers, for one. And the decline in the unemployment rate had a down side: It fell partly because more workers got jobs, but also because about 315,000 workers dropped out of the labor force. That left the share of Americans actively participating in the work force at a historically depressed 64 percent, down from 64.2 percent in October.


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