WEB Notes: Bravo to CNS for finally bringing this to light instead of the false unemployment numbers. 94.4 million working age people are not working and more were added to that tally this month. At the same time we were told the unemployment number fell to 4.4%. Common sense tells us the numbers are skewed. Read below and then you do the math and tell me that means 4.4% of the population is without work.
This month, the labor force participation rate fell a 10th of a point to 62.9 percent, continuing the trend of people dropping out of the labor force, or just giving up looking for a job. Last month, 162,000 people joined this discouraged group.
The labor force participation rate is arguably one of our most important economic and social indicators. Currently, the United States has 254,588,000 people that are able to work, and only 160,213,000 are currently participating in the labor force.
Source: Labor Force Participation Rate Continues Fall in April: 162,000 Drop Out of Labor Force