Despite the national unemployment rate falling to 10.3 percent and a jobs reports added 1.8 million jobs in July, the labor situation in the United States is more dire than it appears on the surface.
The official unemployment rate fails to capture the 4.5 million workers who have left the labor market since February and have yet to return. Nearly every economic statistic that has been released in recent months has shown severe swings that were previously unprecedented and unfathomable, and the drop in labor force participation is no exception.
Read more...Employment Numbers Mask Severity of Labor Market Situation via CPExecutive
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