How disingenuous. CNN waits until the unemployment numbers begin to worsen, THEN springs this article saying that unemployment rate doesn't really matter?
CNN is correct, but it should have printed this article 6 months ago.
What a pathetic, biased mockery of a news organization CNN has become.
The increasingly irrelevant unemployment rate
By Nin-Hai Tseng, Writer
finance.fortune.cnn.com
June 1, 2012: 11:51 AM ET
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The bad news shouldn't be that surprising. It confirms what some experts suspected all along – that the pace of economic growth never really justified the drop we saw in unemployment earlier this year. Back in April, joblessness fell to 8.1% from 8.2% the previous month, with the economy creating a mere 115,000 jobs. Although that meant the unemployment rate reached its lowest point since January 2009, the number of jobs created was barely enough to keep up with new workers entering the labor market.
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...a shrinking labor force has actually made joblessness decline. Recently, the Fed attributed the nearly 1 percentage point fall in the unemployment rate since August 2011 with the decline in labor force participation.
More: http://finance.fortune.cnn.com/2012/06/01/unemployment-rate-may/?section=money_topstories&utm_source=feedburner&utm_medium=feed&utm_campaign=Feed%3A+rss%2Fmoney_topstories+%28Top+Stories%29
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