Quote:
Originally Posted by Zoxxa
Sorry, I didn't really follow that, where can we read it on CNN?
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I didn't read it....I just saw it a few minutes ago when one of their financial anchors was explaining it.
And if you can't follow it...just look up last months numbers online. All the news organizations explained it very carefully.
Here it is in my condensed version: Last month the rate dropped a couple of points. But LESS jobs were created than the month before. That shouldn't be able to happen. There should be MORE jobs created to drop the unemployment rate.
But what happened is that more people gave up looking for work and dropped out of the work force.
The official unemployment rate does NOT count those people. So the rate showed that unemployment was down...even though it was not.
This month even LESS new jobs were created than last month (because everyone is holding off until after the election). And yet the rate dropped again.
And that's because for the second month in a row even more people dropped out of the job market.
Does that make sense? I'm not an economist so I don't know if I'm explaining it very well.