Saturday, January 11, 2014

Jimmy Carter style---People Not In Labor Force Soar To Record 91.8 Million; Participation Rate Plunges To 1978 Levels

People Not In Labor Force Soar To Record 91.8 Million; Participation Rate Plunges To 1978 Levels | Zero Hedge:
"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%."

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