The Illusion of Falling Official “Unemployment” Fades

7:18 AM

First published by Money Metals here:

Friday’s employment report featured the headline unemployment rate falling from 5.0% to 4.7% – which is a huge move lower. About the only encouraging aspect of the report is that markets largely ignored the fantasy headline for a change and focused on the ugly details. Nearly everyone acknowledged the report as bad news and markets reacted accordingly.

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