Is Jobless Rate Really Falling?

The unemployment rate has been falling even as millions of people have stopped looking for work. What does this mean for the health of the job market?

Over the past four years, the U.S. unemployment rate has fallen to 7 percent from a peak of 10 percent. Much of this progress may not be real. Sadly, the data in tomorrow's job report won't help us figure out the true state of the labor market.

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