Free Republic

Everyone who isn't an Obamabot (Paul Krugman) or above the age of 5 knows that the current "official" unemployment rate of 5.9% is bogus. The real number that counts is the labor participation rate which has been shrinking for more than 5 years.Why is the labor force participation rate important? Ken Braun of MLive has very clear explanation: The U.S. “civilian noninstitutional population” - the total count of civilian adults - grew by 217,000 in September, according to the latest jobs report from the U.S. Department of Labor. Those new entrants represent immigrants, young people coming of age, military personnel...

A record 92,584,000 Americans 16 and older did not participate in the labor force in September, as the labor force participation rate dropped to 62.7 percent, a level it has not seen in 36 years, the Bureau of Labor Statistics reported on Friday. Six times in the last twelve months, the participation rate has been as low as 62.8 percent; but September’s 62.7 percent is the lowest since February of 1978. The participation rate is the percentage of the civilian non-institutional population who participated in the labor force by either having a job or actively seeking one. Those not in...

The new employment numbers are out and they show that unemployment fell to 8.3% in January. Woo-hoo. We added “243,000″ jobs, right? Not exactly. From Zero Hedge: “In January, the number of Part Time workers rose by 699K, the most ever, from 27,040K to 27,739K, the third highest number in the history of this series. How about Full time jobs? They went from 113,765 to 113,845. An 80K increase. So the epic January number of 141.6 million employed, which rose by 847K at the headline level: only about 10 % of that was full time jobs: surely an indicator of...