The road to recovery: furloughs, layoffs and job numbers that shade the truth

The US unemployment rate has reached a seven-year low - but you wouldn't know it by looking at certain industries who have been forced to reduce workers' hours in ways that aren't reflected in jobs reports

The unemployment rate fell to a seven-and-a-half-year low in August. While the number of new jobs created was less than expected, overall the month-to-month numbers have been positive, allowing the Obama administration to tout economic recovery and the Fed to prepare for a potential interest rate hike later this year.

Yet, the monthly numbers do not tell the entire story.

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