the unemployment rate, which reached 8.1% by the first quarter of 2019, the lowest in 10 years. This drop in the level of unemployment, however, requires some additional qualification. The rate of utilization, which measures the number of workers employed for at least one hour per week as a percentage of the population, has dropped from 44.5% to 39%. This is also accompanied by a reduction in the level of workforce participation from 46.4% to 41.6%, indicating a reduction in the level of those seeking work, rather than an increase in the number of available jobs. Loss of hope should be credited with the drop in the level of unemployment, not improved economic conditions.