Tuesday, February 21, 2012

Unemployment Rate Not as Rosy as it Appears

Unemployment Rate Not as Rosy as it Appears [Michigan Capitol Confidential]
But a big reason for the state’s rosier outlook is a large drop in the state’s labor force, something University of Michigan economist Don Grimes calls “one of the least understood results” of the economic recovery.

Michigan’s workforce has dropped from 5.1 million in January 2006 to 4.6 million in December 2011.
Michigan added 13,000 jobs in December of 2011, but the labor force decreased by 11,705 jobs.

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