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You are an economic advisor to the president. He has just received the unemployment data and is puzzled by it. The data reveals that the

You are an economic advisor to the president. He has just received the unemployment data and is puzzled by it. The data reveals that the economy has added 280,000 jobs during the last month. This is the fourth consecutive month of such increases. Other labor market statistics also point to the increasing demand for labor and hiring. Despite these statistics, the actual unemployment rate is reported to have increased compared to last month. The president asks you to explain this phenomenon to him. Provide a brief answer to address his question.

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