As of this morning, the unemployment rate has dropped 0.3% to 9.7%. Although this is a positive sign, it is not as good of news as many had hoped. Some are contributing the drop in the unemployment rate to a statistical glitch resulting from the Labor Department’s revision of the way they estimate population. However, there are signs that businesses are finally starting to add laborers instead of just increasing production without expanding labor. For example, the number of involuntary part time workers fell from 9.2 to 8.3 million workers.
this decrease in unemployment may not be that good of a sign for our economy because this decrease might just mean that 0.3% of of people stopped looking for jobs. i also don't think that this decrease will have much of an impact on the economy until we see a significant decrease in unemployment. however any decrease in unemployment could mean that we are on our way to a successful recovery.
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