Post by Sailor on Jan 10, 2014 9:12:47 GMT -8
People Not In Labor Force Soar To Record 91.8 Million; Participation Rate Plunges To 1978 Levels
Curious why despite the huge miss in payrolls the unemployment rate tumbled from 7.0% to 6.7%? The reason is because in December the civilian labor force did what it usually does in the New Normal: it dropped from 155.3 million to 154.9 million, which means the labor participation rate just dropped to a fresh 35 year low, hitting levels not seen since 1978, at 62.8% down from 63.0%.
www.zerohedge.com/sites/default/files/images/user5/imageroot/2014/01/LFP%20Participation.jpg
And the piece de resistance: Americans not in the labor force exploded higher by 535,000 to a new all time high 91.8 million.
www.zerohedge.com/sites/default/files/images/user5/imageroot/2014/01/Not%20in%20Labor%20Force%20Dec.jpg
The jobless, laborless recovery continues to steam on.
www.zerohedge.com/news/2014-01-10/people-not-labor-force-soar-record-918-million-participation-rate-plunges-1978-level
"We're moving in the right direction." - Obama administration. They must think we're stupid if they think we'll believe that having 1/3 of the working age population out of work.
Curious why despite the huge miss in payrolls the unemployment rate tumbled from 7.0% to 6.7%? The reason is because in December the civilian labor force did what it usually does in the New Normal: it dropped from 155.3 million to 154.9 million, which means the labor participation rate just dropped to a fresh 35 year low, hitting levels not seen since 1978, at 62.8% down from 63.0%.
www.zerohedge.com/sites/default/files/images/user5/imageroot/2014/01/LFP%20Participation.jpg
And the piece de resistance: Americans not in the labor force exploded higher by 535,000 to a new all time high 91.8 million.
www.zerohedge.com/sites/default/files/images/user5/imageroot/2014/01/Not%20in%20Labor%20Force%20Dec.jpg
The jobless, laborless recovery continues to steam on.
www.zerohedge.com/news/2014-01-10/people-not-labor-force-soar-record-918-million-participation-rate-plunges-1978-level
"We're moving in the right direction." - Obama administration. They must think we're stupid if they think we'll believe that having 1/3 of the working age population out of work.