Literally half of the drop in the unemployment rate over the last year is due to shrinking the size of the workforce -- in other words unemployed are no longer being counted as they are removed from the workforce.
Where the unemployment rate keeps dropping, even as we add fewer jobs than people, we’ll eventually end up with a 0 percent “unemployment rate”, while the workforce plummets by half. Everyone who isn’t working will still make a nice... Read Post
“The more you drill down into the November jobs report, the worse it looks,” writes Jim Pethokoukis. How could it look bad when the unemployment rate is shrinking? Because that rate isn’t shrinking because more Americans are finding... Read Post
At the national level we’re not making a lot of headway on the economy, but the national unemployment rate keeps edging down because the national workforce is shrinking. And it’s shrinking because so many people are leaving it, givi... Read Post