Harry Holzer – Jobless Rate at 6-Year Low

The Bureau of Labor Statistics reported last week that the nation gained 248,000 jobs in September, dropping the unemployment rate to 5.9 percent. It’s the first time the jobless rate has dipped below 6 percent since mid-2008. While economists and investors were encouraged by the report, their enthusiasm was tempered by data showing that wages have remained stagnant. Harry Holzer, a former chief economist for the U.S. Department of Labor and a professor of public policy at Georgetown University, explains the numbers.