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February 03, 2012

Another 1.17 Million People Leave the Workforce-- In Just a Month

Hot Air highlights Zero Hedge's big find in the new numbers:

A month ago, we joked when we said that for Obama to get the unemployment rate to negative by election time, all he has to do is to crush the labor force participation rate to about 55%. Looks like the good folks at the BLS heard us: it appears that the people not in the labor force exploded by an unprecedented record 1.2 million. No, that's not a typo: 1.2 million people dropped out of the labor force in one month!

So, all it took to budge the unemployment rate down to 8.3% is taking 1.2 million people out of the workforce altogether.


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posted by Ace at 12:14 PM

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