James J. Florio / Could 7 percent unemployment be the new normal? - Press of Atlantic City: Commentary

James J. Florio / Could 7 percent unemployment be the new normal?

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Posted: Friday, June 28, 2013 12:01 am

The release of unemployment numbers for the month of May raises the possibility of a need to rethink some basic assumptions about our national economic policies. A respectable 175,000 jobs were created, but the unemployment rate rose from 7.5 percent to 7.6 percent. The explanation offered is that more people entered or re-entered the job market. Reasonable enough, but people have always entered or re-entered the job market.

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