The latest labor report shows a slight decline in the nation’s unemployment rate, but that decline has less to do with economic recovery than a labor pool that is shrinking because people are giving up looking for work.
Which is something backed up by these polling results from Rasmussen:
After holding steady for the past year, the number of Americans who know someone who’s given up looking for a job out of frustration with the current market is up to 48%.
A new Rasmussen Reports national telephone survey shows that 43% of Adults don’t know someone in this situation. But the number of Americans who know someone who has given up on the job market is up from 43% in February and ties the highest result measured in regular tracking since 2010. This finding hovered around 40% for most of 2011.
The survey of 1,000 Adults was conducted on April 1-2, 2012 by Rasmussen Reports. The margin of sampling error is +/- 3 percentage points with a 95% level of confidence.
There is no economic recovery. There is only statistical static that gives the appearance of slight recovery.