Falling Unemployment Shouldn’t Be a Bummer
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April 18 (Bloomberg) -- If you were to step back and lookat the U.S. unemployment rate, you would see that it moves inbig, sweeping arcs, up and down. Yes, there can be small month-to-month reversals, but it has a clearly defined trend for anobvious reason: It tracks the business cycle.
Is this time different? Is the decline in the jobless ratefrom a high of 10 percent in October 2009 to 7.6 percent lastmonth a case of right direction, wrong reason, and thereforemisleading?