Employment

Many people do not know that when your unemployment benefits expire if you find a job or if you don’t you are no longer counted as unemployed so when 1.3 million people lost their unemployment benefits in January the expected result was a drop in the unemployment numbers and this happened as the rate declined from 6.6% in January to 6.1% today. The 800,000 jobs created over the past 6 months were offset by this number of people no longer counted as unemployed so the labor participation rate remained constant at 62.8% which is the lowest since 1979.