Relevant:
- Digging Still Deeper In Friday's Jobs Report; What's the Real Unemployment Rate?
- Payroll Disaster: Nonfarm Payroll +115,000 Establishment Survey But -169,000 Household Survey, Labor Force Drops by 342,000
- April jobs: Unemployment rate falls to the lowest since 1969, But not-in-workforce surge to fresh high
- Even More Crazy Distortions in the May Jobs Report
- Labor Force Dropouts: Why The Jobs Crisis Is Worse Than We Think
2010-01-09 — blogspot.com
The reason why unemployment, as per the Household survey, stayed at 10% and "only" 85,000 jobs are reported MIA in the Payroll survey can be found in the labor force numbers. From November to December 2009, the "persons not in the labor force" category went up by 843,000 (over 1 million when not seasonally adjusted), and now stands at 83,865,000. The vast majority of those singing off, i.e. not actively looking for work, are people who can't see any jobs anywhere in their environment. The worse the economy gets, the fewer people are counted as unemployed. It’s a lovely invention, but it's also am awfully perverted one.
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