Friday, September 07, 2012

A Drop


Just so you know ... the recent unemployment data dump by the Bureau of Labor Statistics which pegged the unemployment rate at 8.1%, a drop from the previous 8.3%, neglects to highlight a few key statistics, viz, the actual number of persons employed, in fact, dropped by 120,000 and the workforce dropped a suspiciously staggering 580,000.  It is the interplay of these two numbers that creates the convenient fiction that the unemployment rate is dropping.  See: CPS Tables and click on the HTML version of the A-1 table under Monthly Household Data.

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