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Employment numbers disappoint despite unemployment rate drop

The Bureau of Labor Statistics data released Friday did not paint a good picture of the U.S. labor market. The unemployment rate fell to 8.1%, mostly because 368,000 people left the labor force. The Household Survey revealed the unemployment figure to be 12.54 million people, and that the total number of part-time workers for economic reasons and the number of persons marginally attached to the labor force is 10.59 million. Taken together, that is more than 23 million people in the U.S. who are currently unemployed or underemployed.