Unemployment Rate Set To Plunge As Bill To Restore Jobless Benefits Fails To Pass Senate | Zero Hedge

Unemployment Rate Set To Plunge As Bill To Restore Jobless Benefits Fails To Pass Senate | Zero Hedge: "Whatever the answer, it increasingly seems that no law, retroactive or otherwise, will pass before the end of the month, which also means that up to (a record) 1.4 million Americans will fall out of the labor force, in addition to the now traditional 200K-600K people who quietly exit the labor pool every month. Which also means that, as we explained previously, since the impact on the unemployment rate could be as high as 0.8% from just the EUC expiration alone, that the unemployment rate for January could crash to under 6% just as the economy is starting to really backslide, as shown by the recent horrendous data from retailers across the board."



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UNEMPLOYMENT , COMPONENTS OF UNEMPLOYMENT