The labor force participation rate has fallen! If the labor force was the same size as it was in December 2011 when unemployment was at 8.5%....the unemployment numbers would be 8.35%, NOT 7.8%!
People are leaving the work force for many reasons. Can't find work, going back to school, joining the welfare recipients, retiring, etc.
The labor force participation rate has fallen! If the labor force was the same size as it was in December 2011 when unemployment was at 8.5%....the unemployment numbers would be 8.35%, NOT 7.8%!
People are leaving the work force for many reasons. Can't find work, going back to school, joining the welfare recipients, retiring, etc.
Here's a graph of the labor participation rate.
http://www.businessinsider.com/why-the-unemployment-rate-has-fallen-in-2012-2012-10