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Hiring Pace Picked Up Last Month

Contributed by mm | July 10, 2005 5:13 PM PST





It's generally good news, but the drop in participation rate is still a concern.

From New York Times:

Partly in response, the unemployment rate has ticked down by a tenth of a percentage point in each of the last three months, moving toward levels reminiscent of the booming late 1990's. Unemployment sometimes falls because the jobless leave the labor force entirely rather than continue to hunt for work - but that has not happened lately.

This movement in and out of the labor force is reflected in the participation rate, the percentage of the working-age population either employed or seeking work. That rate has fallen from its peak of 67.3 percent in 2000, but has held steady at roughly 66 percent for the last year.

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