Wednesday, February 08, 2012
"Another Unemployment Rate Fairy Tale"
By now, we should have figured out that the monthly unemployment report is a political creation.
It hides the steady decline in the number of people who are actually working.
I think it is purposeful trickery at it's best...
It hides the steady decline in the number of people who are actually working.
I think it is purposeful trickery at it's best...
At RealClearMarkets.com, Louis Woodhill explains:
"For the past 31 months, discouraged workers have been dropping out of the labor force in unprecedented numbers.
At the end of the recession (June, 2009), the labor force participation rate was 65.7%. In January 2012, it was 63.7%. The difference between these two numbers represents 4.8 million people who have given up on looking for work."
