The fall in the unemployment rate has accelerated and is consistent with continued recovery

Here's a brief, late Friday post to follow up on the jobs number. If you look at recoveries from past recessions in the United States, what you usually see is a fall in the year-over-year unemployment rate as the economy gathers steam. And this fall gathers steam as the recovery picks up its pace. Clearly, this should make intuitive sense because a recession is a first derivative event; recessions measure the change in employment, income, output, retail sales and GDP not the absolute level.
So ...


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