December 2, 2011

JOBLESS RATE DROPS UNEXPECTEDLY. The folks at ZeroHedge say it’s because of workforce shrinkage, and suspect chicanery at the BLS. I should note that I’ve looked into the chicanery issue, and folks who worked there under Bush don’t think there’s any funny business going on now.

Meanwhile, James Pethokoukis explains why it’s better but still terrible.