As usual, Zerohedge nailed it: “The unemployment rate drops to 8.2% for one simple reason: the number of people not in the labor force is back to all time highs: 87,897,000.”
It’s normal for the labor participation rate to fall in recession. But it’s not normal that it does not recover after the recession has officially ended. It is downright scary to see the dropout rate accelerate month by month at a pace never before seen in this data.
Jeffrey Tucker
Jeffrey Tucker is the publisher and executive editor of Laissez-Faire Books, the Primus inter pares of the Laissez Faire Club, and the author of Bourbon for Breakfast: Living Outside the Statist Quo, It's a Jetsons World: Private Miracles and Public Crimes, and A Beautiful Anarchy: How to Build Your Own Civilization in the Digital Age, among thousands of articles. Click to sign up for his free daily letter. Email him: tucker@lfb.org | Facebook | Twitter | Google
