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.
No comments:
Post a Comment