An unexpected drop in the unemployment rate has raised hope for many.
Washington, D.C. (WiredPRNews.com) – A decrease in the unemployment rate has sparked hope for many that a sustained economic recovery is on the horizon. As reported by the Associated Press (AP), reports released Friday showed a decline in unemployment as well as a drop in what is deemed underemployment, or the number of individuals in part-time positions who are looking for full-time employment, and those who have been laid off and are no longer searching for work.
As noted by the AP, although the numbers are better than many anticipated, 15 million people are still without jobs, and dramatic job creation measures are reportedly necessary. Lawrence Mishel, president of the Economic Policy Institute, is quoted in the report as stating of the matter, “We will need very substantial job growth to get unemployment lower, especially when the labor force … starts growing again.”
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