Yellen: Unemployment Rate Fell in May Because Fewer People Are Looking for Jobs

‘The unemployment rate fell to 4.7 percent in May, but that decline mainly occurred because fewer people reported that they were actively seeking work’

"In April and May, however, the average pace of job gain slowed to only 80,000 per month or about 100,000 per month after adjustment for the effects of the strike. The unemployment rate fell to 4.7 percent in May but that decline mainly occurred because fewer people reported that they were actively seeking work."

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