On Fri, 5 Dec 2003, Shane Taylor wrote:
> Doug Henwood fwd'd:
> > Companies created 57,000 new jobs in November. Although
> > that was the fourth straight monthly gain in employment, it fell
> > far short of 150,000 private economists had expected.
> >
> > However, in a positive sign, the jobless rate dropped to an
> > eight-month low of 5.9 percent.
>
> Why is that? Are a chunk of people dropping out of the labor market?
> Aren't the recent employment gains alone too paltry to account for the
> drop?
>
> -- Shane
Yes, I keep reading Max and other econ-wonks claim we need about 150,000 jobs a month just to keep up with new entrants to the labor market. Shouldn't the unemployment rate be increasing?
MIles