Civilian Employment to Population Ratio Lowest Since Carter / Early Reagan … And Flat-lined! Employment Misery Index Increasing!
January 6, 2012
Reuters, like many media outlets, had a tantalizing headline: “Unemployment near three-year low.” They even have a photo of a house being built, implying that the economy is recovering, unemployment is declining rapidly and new homes will be built in droves.
As someone who writes about the housing and mortgage markets, let’s look more closely at that headline.
The Civilian Unemployment Rate is at 8.5% and the prior low point during the last three years was in February/March of 2009. Thus, the Reuters headline is accurate.