Unemployment drops to 9.7% without adding a single job to it

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  1. Neotrotsky
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    Unemployment drops to 9.7% without adding a single job to it


    Article:

    The unemployment rate fell to its lowest level since August because a Labor Department survey of households found a sharp rise in the number of Americans with jobs. The survey found that 541,000 more Americans had jobs last month.

    But those gains resulted from seasonal adjustments to the data. Without those adjustments, the data show fewer people had jobs last month.


    But Paul Ashworth, an economist at Capital Economics, noted that the economy has been growing for six months, yet company payrolls are still shrinking.

    "Based on what we've seen so far, we think it is fair to characterize this as another jobless recovery," Ashworth said.
     

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