Given the clear finagling of statistics that has been present througout the course of this near-depression, one has to wonder why such a reduction in one fell swoop was required.
Up to this point, flirting with but just below an official U3 rate of 10% has sufficed. They’re really, really anxious to avoid any admission of that rate, nationally. On a state level, sure, quite a few are. My home state, NC, has been above 10% more often than below since late 2008.
There must be a big hit to the numbers coming down the pike, and they’re making room for it ahead of time, imho. Now, what might cause politically motivated government statisticians to begin anticipatory reductions in labor force statistics?
There is nothing the regime says that I believe.
The only answer to that would be higher energy and fuel prices which is what is happening as we speak. If this continues it could look like what happen in 2008 when oil hit around $147.