A job gain of 74,000, even if it is real, is about half of what is needed to keep the unemployment rate even with population growth. Yet the Bureau of Labor Statistics reports that the unemployment rate fell from 7.0% to 6.7%. Clearly, this decline in unemployment was not caused by the reported 74,000 jobs gain. The unemployment rate fell because Americans unable to find jobs ceased looking for employment and, thereby, ceased to be counted as unemployed.
In America the unemployment rate is a deception just like everything else. The rate of American unemployment fell because people can't find jobs. The fewer the jobs, the lower the unemployment rate.- See more at: http://www.thedailybell.com/editorials/34923/Paul-Craig-Roberts-No-Jobs-For-Americans/#sthash.BrG1tvk0.dpuf