The unemployment rate is generated by the Labor Department, which conducts a monthly population survey and includes in the rate people who have actively looked for work in the past four weeks.
Those who have given up the search are not counted in the unemployment rate, and the figure is not affected by or related to the number of people who are eligible to collect on -- or have run out of -- jobless benefits.
"It's been tough, but we are certainly here at the turnaround," said PNC's Thomas. "In a few months these numbers will be revised up significantly to reflect the trends we're seeing nationally."
I'll believe it when I see it--especially for people age 55 and over.
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