The overlords are well on their way to the goal of a nation of cattle.The worst news comes in the workforce numbers. Those not in the workforce increased by 525,000 in December (91.808 million), after a one-time drop in the figure for November (91.283M from 91.756M in October). That’s a big exodus of people from the workforce, dwarfing the meager number of jobs added in the economy. Part-time work remained essentially constant at 7.8 million, so the exodus points to an ugly, ugly trend.Not surprisingly, that lead to a decline in the workforce participation rate, back down to 62.8%. That matches the 36-year low hit in October, which is one reason why the unhinged U-3 continues to drop. The workforce number acts as the denominator for U-3, which means that the result will “improve” as the workforce declines. The U-6 metric, which considers more of those who are only marginally attached to the workforce, remains at 13.1%.
UPDATE: Even the regime's own propaganda arm can't spin this one.
No comments:
Post a Comment