Let’s be very specific. The statewide unemployment rate dipped to 9.9 percent in July from 10.2 percent in June thanks to the addition of 5508 jobs, according to state figures. However, at the same time the labor force shrank to 4,541,470 from 4,549,616 or a loss of 8146 workers.
Had the workforce stayed stable the unemployment rate would’ve barely blipped — down to 10.1 percent. This suggests that as the labor force grows back up to its 2009 average of 4,544,622 the jobless rate could bump back up.
