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Posted at 12:31 PM ET, 03/ 4/2011

Is the February jobs report underestimating job creation?

By Ezra Klein

David Leonhardt thinks so.

By Ezra Klein  | March 4, 2011; 12:31 PM ET
 
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Comments

"A couple of behind-the-scene facts: from October to February, an epic 700k people have left the work force. If you actually adjust for the fact that the labour force participation rate has plunged this cycle to a 27-year low the unemployment would be sitting at 12% today. Moreover the employment-to-population ratio — the so-called “employment rate” — stagnated in February at 58.4% and is actually lower now than it was last fall when “double dip” was the flavour du jour."

-David Rosenberg

Posted by: marteen | March 4, 2011 12:47 PM | Report abuse

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