Analysis: Slashing Government Jobs Hurts the Unemployment Rate

Today, the Labor Department announced that the U.S. unemployment rate remained unchanged in May at 7.6 percent. After the news, I caught the following exchange on Twitter between the Wall Street Journal's Justin Lahart and University of Michigan economist Justin Wolfers.

That's the long and the short of what I find to be the most infuriating aspect of this jobs recovery. The U.S. economy has been steadily adding jobs, but were it not for government layoffs -- made at a time where Washington has been capable of borrowing money essentially for free -- we'd be in better shape. We've been self sabotaging for about four years now.

Read more at The Atlantic

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