Friday, October 05, 2007

Job creation picked up in September but not enough to stop the unemployment rate from rising to 4.7 percent, the highest in just over a year.

The bump up in the unemployment rate from 4.6 percent in August came as hundreds of thousands of people streamed back into the labor market.

That illustrates a problem with the official "unemployment rate". Many of these people who "streamed back into the labor market" wanted jobs, but weren't included in the unemployment statistics.

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