As predicted several hours ago, the unemployment has decreased by 0.3% to 9.7%.
This was not expected by the market with the average forecast of 10% and the range from 9.9% to 10.2%. The decrease will accelerate in February. The reason behind the drop is the secular decline in the rate of participation in labor force, as decribed in this post.
Sabine Hossenfelder: My dream died, and now I'm here
There is a big difference between Sabina's confession and what I experienced in the 1980s in the Soviet Union as a young scientists. It ...
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