Piecing Together the Job-Picture Puzzle

12-Mar (The Wall Street Journal) — Something about the U.S. economy isn’t adding up.

At 8.3%, the unemployment rate has fallen 0.7 percentage point from a year earlier and is down 1.7 percentage points from a peak of 10% in October 2009. Many other measures of the job market are improving. Companies have expanded payrolls by more than 200,000 a month for the past three months, according to Labor Department data. And the number of people filing claims for government unemployment benefits has fallen.

Yet the economy is barely growing.

…How can an economy that is growing so slowly produce such big declines in unemployment?

[source]

PG View: Finally, the economists and journalist are starting to question what most people in the real-world have been experiencing all-along; that things out here in the real-world aren’t really improving in any meaningful way.