Jobless Recovery

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The state of the U.S. economy is currently being described as a "jobless recovery": the gross domestic product grows, but the economy continues to shed jobs. The nation's unemployment rate dropped to 6.2 percent. That's usually seen as good news — but not when the drop is due to a rise in discouraged job seekers who are no longer receiving benefits or even looking for work.


Mark Zandi
*Chief economist for



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