The number of people not in the labor force rose by 522,000 in April alone. This is the highest rise on record for people leaving the labor force. The author explains that the reason the unemployment rate dropped is because the labor force participation rate just reached a 30-year low.
Submitted by Tyler Durden
05/04/2012 08:40 -0400
Zero Hedge
It is just getting sad now. In April the number of people not in the labor force rose by a whopping 522,000 from 87,897,000 to 88,419,000. This is the highest on record. The flip side, and the reason why the unemployment dropped to 8.1% is that the labor force participation rate just dipped to a new 30 year low of 64.3%.
Labor force participation Rate:
People not in labor force:
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