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Mish Takes the Most Complete Look at Employment and Unemployment Anywhere

E1776 Wrote: Dec 08, 2012 1:30 PM
Exactly the situation.

Initial Reaction

The establishment report of +146,000 jobs was about what most expected.

However, beneath the surface, this report looks grim.

The household survey shows a loss of 122,000 jobs. The unemployment rate dropped by .2% because the labor force fell by 350,000 and those "not in the labor force" rose by a whopping 542,000.

Thus, we are back to the previous 2012 pattern of witnessing unemployment rate drop largely because of a massive increase of those "not" in the labor force....

Related Tags: Unemployment