And if labor force participation had stayed the same as in March, unemployment rate would have risen to 8.4%
Comparison: In April of 1984, economy added a population-adjusted 480,000 jobs
The U3 is an idiot’s statistic that is totally worthless.
There is no decent reason for excluding from a picture of unemployment those who have stopped looking for a job.
It makes far more sense to give the total number and then a number of job-able who are receiving welfare benefits. Let people draw their own conclusions.
In fact, and I could be wrong, I think a job-seeker can be dropped from the rolls for missing just a single month of job search reporting to the UE office.