Monday, June 05, 2017

Rosey NPR report on economy ignores important fact

I heard a report on NPR about the economy a couple of days ago. Looked up a link with text, and found the same thing. They said "The national unemployment rate nudged lower, to 4.3 percent from 4.4 percent — a 16-year low. The 4.4 percent level had been the lowest since since 2007, before the recession hit."

What they did NOT mention was that the reason unemployment fell was that people were dropping out of the labor force. So they weren't counted as unemployed, even though they didn't have jobs.

http://www.npr.org/sections/thetwo-way/2017/06/02/531194009/may-jobs-report-138-000-more-on-payrolls-unemployment-dips-slightly

May Jobs Report: 138,000 More On Payrolls; Unemployment Dips Slightly
June 2, 20178:31 AM ET
Bill Chappell


The U.S. economy added 138,000 jobs in May, according to the monthly jobs report released by the Bureau of Labor Statistics on Friday morning.

The national unemployment rate nudged lower, to 4.3 percent from 4.4 percent — a 16-year low. The 4.4 percent level had been the lowest since since 2007, before the recession hit.

But the jobs numbers were not as strong as some were hoping to see. Economists had been expecting job gains of about 185,000, NPR's Yuki Noguchi reports, and to see the unemployment rate holding steady.

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