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Unemployment rate falls for all the wrong reasons
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| Contributor | kal |
| Last Edited | kal Apr 06, 2013 04:38am |
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| Category | News |
| News Date | Saturday, April 6, 2013 10:00:00 AM UTC0:0 |
| Description | What seemed like good news in Friday's jobs report was a little less than that -- the unemployment rate fell, but not because more people found work.
Instead, the rate was lower because the Labor Department estimated that there are nearly half a million fewer people in the labor force -- the group that includes people with a job or looking for one.
In the department's survey, 206,000 fewer people said they had a job than in the previous month, even though a separate survey of employers in the March jobs report showed 88,000 jobs were added.
In addition, 290,000 fewer people were counted as unemployed because they were not actively looking for work. That drop in those seeking jobs was the reason the unemployment rate fell to 7.6%, the lowest since December 2008.
The participation rate, which counts both those with jobs and those looking for work, fell to the lowest rate since 1979, when far fewer women were in the U.S. labor force. For men age 25 and older, March was the lowest participation on record.
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