But ADP tells us that private payrolls in the U.S. increased by 204,000 jobs last month...
SEE HERE:
http://online.wsj.com/articles/private-businesses-create-204-000-in-august-adp-says-1409833982
What’s with the huge discrepancy?
After all these are individual people unable to make a living for themselves.
Labor force participation rate at 62%. If Bush was president you would never hear the end of it.
I think the issue here is that the summer job season is coming to an end and the uptick for holiday season hiring is still some time from going up. But if this lull continues up till November, then we have a problem.
There is simply NO WAY in the HOT PLACE that this nation only has a 6.1% unemployment rate. There are just too many people on welfare and government disability AND those that simply gave up looking. I would LOVE to know what the actual number of gave ups is. I bet that number is in the millions. People who are now relying on family, friends, whatever, to simply rake by. Plus, I would bet many have gone the wrong way, against the law, stealing, drug selling, etc., just to make money to live on.
If everyone decided to sit home this unemployment rate would drop to zero!
Remember, the uncounted are those whose unemployment comp has expired.