Another Ugly Employment Data Point

The recession that started with the collapse of the housing market ended five years ago, yet there’s a persistent sense that if we’re out of it, it’s only through a long and ugly slog. While the headline unemployment rate is indeed falling, we keep finding that other indicators of the job market don’t look great. The New York Times‘ David Leonhardt draws attention to the decline in the number of people answering surveys, a problem because the unemployed may be particularly unwilling to tell economists that they don’t have a job.