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Mish Takes the Most Complete Look at Employment and Unemployment Anywhere

Zdravko Wrote: Dec 08, 2012 7:30 AM
Let Congress vote for another 99-week unemployment benefits extension and the real unemployment rate will jump to 14.7%.

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