Wednesday, January 14, 2015

Jobs numbers from Fantasy Island

If you like the current unemployment numbers, you must remember the reason it's so low - many fewer Americans are looking for work.
Don’t believe for one minute the official unemployment rate of 5.6%, because the Polar Bear Club-level shrinkage in the workforce makes an unfunny mockery of the BLS’s headline number. The labor force participation rate hasn’t been this low — 62.7% and declining — since Fantasy Island debuted on ABC exactly 36 years ago today.
Take millions out of the pool looking for work, and your unemployment numbers are bound to look better.

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