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Understanding the latest unemployment numbers

Posted By Rob Schofield On October 9, 2012 @ 3:43 pm In Uncategorized | Comments Disabled

[1]There’s been a lot of confusion and absurd conspiracy claims about last week’s drop in the national unemployment rate. Dean Baker has the actual skinny here [2].

The bottom line: Things are better, but the lack of demand in the economy continues to hold us back.

In other words, we’re still paying the price for the inadequate stimulus that the federal government has mustered over the last few years; The President’s efforts stabilized things but the roadblocks to doing more set up by conservatives have locked us into a just-slightly-better-than-treading-water pattern.

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[1] Image: http://pulse.ncpolicywatch.org/wp-content/uploads/2012/10/Dean-Baker.jpg

[2] Dean Baker has the actual skinny here: http://www.cepr.net/index.php/data-bytes/jobs-bytes/unemployment-falls-below-80-percent-for-the-first-time-since-january-2008

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