Jobs Cut, Unemployment Drops?

Draft from a couple weeks back, but still relevant.



From the AP on Yahoo:

For the second straight month, nervous employers got rid of jobs nationwide. In February, they sliced payrolls by 63,000, even deeper than the 22,000 cut in January, the Labor Department reported Friday.
...
The unemployment rate actually dipped slightly from 4.9 percent to 4.8 percent, as 450,000 people left the labor force for any number of reasons. Economists thought many people probably gave up looking for work.

Granted, the unemployment numbers reported in America are about as valid as Nielson Ratings, but this odd, cold shift in statistics at least captures the level of despair in America over the economy and the state of lower employment and making less than our parents, etc.

They just gave up.