Friday, January 10, 2014

Labor Force Participation

If you've been paying attention to our president, you know that the recovery is fully in force, and that things are getting better.  Until you get behind the numbers and see what's really up.  Hot Air leads us to a chart by Sean Davis that shows the difference between the unemployment figures touted by the administration, and the actual labor force participation.  As folks get discouraged and quit looking for work, they "fall out" of the unemployment numbers, but they're still not working.

The official unemployment rate is under 7%.  The actual labor force participation is stuck at about 11%.  Hot Air makes the point that if several million more people get discouraged and quit looking for work, we'll be down to a 5% unemployment rate, the lowest rate in decades.

2 comments:

Old NFO said...

If the 92 million out of the workforce is correct, that's a LOT more than 11%... Just sayin...

Rivrdog said...

This brings into question the entire Government use of such statistics. In every case where they are use, they are doctored so as not to reveal the actual state of the economy.

As we smile our way to the voting booths, never forget that such mass-deception led directly to the Crash of 29, and to the recent Great Recession.