Grasping Reality on TypePad, by Brad DeLong

and the unemployment rate was unchanged at 5.8 percent, the U.S. Bureau of Labor Statistics reported today.... The number of long-term unemployed (those jobless for 27 weeks or more) was little changed at 2.8 million in November. These individuals accounted for 30.7 percent of the unemployed.... The civilian labor force participation rate held at 62.8 percent in November and has been essentially unchanged since April. The employment-population ratio, at 59.2 percent, was unchanged in November...