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<oembed><version>1.0</version><provider_name>naked capitalism</provider_name><provider_url>https://www.nakedcapitalism.com</provider_url><author_name>Lambert Strether</author_name><author_url>https://www.nakedcapitalism.com/author/lambert-strether</author_url><title>The BLS Jobs Report Covering August 2012: Some Sound and Fury but Mostly Nothing | naked capitalism</title><type>rich</type><width>600</width><height>338</height><html>&lt;blockquote class="wp-embedded-content" data-secret="rDhsFzULM8"&gt;&lt;a href="https://www.nakedcapitalism.com/2012/09/the-bls-jobs-report-covering-august-2012-some-sound-and-fury-but-mostly-nothing.html"&gt;The BLS Jobs Report Covering August 2012: Some Sound and Fury but Mostly Nothing&lt;/a&gt;&lt;/blockquote&gt;&lt;iframe sandbox="allow-scripts" security="restricted" src="https://www.nakedcapitalism.com/2012/09/the-bls-jobs-report-covering-august-2012-some-sound-and-fury-but-mostly-nothing.html/embed#?secret=rDhsFzULM8" width="600" height="338" title="&#x201C;The BLS Jobs Report Covering August 2012: Some Sound and Fury but Mostly Nothing&#x201D; &#x2014; naked capitalism" data-secret="rDhsFzULM8" frameborder="0" marginwidth="0" marginheight="0" scrolling="no" class="wp-embedded-content"&gt;&lt;/iframe&gt;&lt;script type="text/javascript"&gt;
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</html><description>By Hugh, who is a long-time commenter at Naked Capitalism. Originally published at Corrente (archives).  The big number is that unemployment dropped two-tenths of a percent from 8.3% to 8.1%. However, the illusory nature of this drop can be seen in the fact that the number of jobs increased only 96,000. Essentially, what happened is that the unemployment rate declined, not because people found jobs but because the BLS defined them out of the labor force. Both of these numbers are seasonally adjusted.</description></oembed>

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