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A look through a variety of online news media this morning (BBC, DT, Washington Post, Business Week, Fox, Reuters etc.) show an uncanny similarity in the reports of the US job figures: "Unemployment rate falls to 8.3%, to lowest level for three years"; these are the official figures so they are jumped on for news; most add comments to the effect that this is nothing but good for Obama and of course re-election. What none of them say, but maybe they will later today when they bother to check (check the 11 or so comments under this DT article for instance) is that the good figures are on the back of "the largest absolute jump in 'Persons Not In Labor Force' on record...and biggest percentage jump in 30 years."; an unprecedented 1.2 million people dropped out of the US work force in one month! [Zero Hedge].
Similar non-MSM info at The Market Ticker here and Mish's Global Economic Analysis here.
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