Unemployment rate drops as workers bolt labor force

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The Obama administration is touting 154,000 new private sector jobs in July, a number that provided some solace to official Washington. But Friday’s Labor Department report gave analysts few positive indicators that the economy is on the rebound.

With the unemployment rate hovering at 9.1. percent, down one-tenth of a percent from June, the report showed 13.9 million unemployed people, 6.2 million who have been out of work for more than six months.

Full Story: When Good News is Bad: Unemployment Rate Drops as Workers Bolt Labor Force –