Joblessness and the Fed

When the Federal Reserve recently implemented its latest round of bond buying and said that low interest rates would persist at least until the unemployment rate fell below 6.5%, one might have wondered how long that would take. It turns out, it might not be until 2016 before unemployment is reduced below the Fed's target, assuming the economy keeps growing between now and then.

One reason is that the unemployment rate has fallen as more people have dropped out of the labor force, thus they are not counted as unemployed. (The labor force consists of people either working or actively looking for work. One must be actively looking for work to be classified as "unemployed" instead of "not in the labor force.") Reduced labor force participation rates have lowered the unemployment rate, not because large numbers of the unemployed have actually found work....608 more words left in this article. To read them, just click below and try Real Money FREE for 14 days.

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