Piecing Together the Job-Picture Puzzle

224 views · Published 12 March 2012 · 5:10 · Indexed 8 October 2026

Channel: The Wall Street Journal · 2012 · News & Politics

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Last year the U.S. economy grew only 1.7% yet the unemployment rate dropped by almost a full percentage point. This defies both an economic theory known as Okun's Law as well as historic norms. It also is puzzling Fed policymakers, set to meet Tuesday, March 13. We set out three competing theories for why this happened and what it portends for 2012. 
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