by Calculated Risk on 4/20/2007 04:08:00 PM

UPDATE: A couple of commenters believe I misinterpreted the excerpted sentence. I agree, but I'm not sure of the correct interpretation. Apparently the writer meant that the average unemployment rate for the current decade (since 2000) is the lowest for any decade since 1970. However, doesn't the "past four decades" still include the '60s? The average for the '60s was lower than the current decade.

This article from the AP: Factory jobs: 3 million lost since 2000 contains the following claim:

"Even though manufacturing jobs have been declining, the country is enjoying the lowest average unemployment rates of the past four decades."

Click on graph for larger image.

This graph shows the monthly U.S. unemployment rate for the last four decades. The red line is the current unemployment rate of 4.4%.

At no time, during the "past four decades" did the blue line dip below the red line - or so the AP claims.