The report said that approximately 400,000 people starting looking for work this past month. Under the stupid BLS formula, the more people that are looking for work and do not find work, the more unemployment.
That’s why Rush has been saying that the only way to manufacture a decrease in unemployment is to shrink the universe of people looking for a job. It worked in the inverse this month.
Isn’t it interesting that the unemployment rate magically ended up at 7.9% instead of 8% right before the election? Imagine that!
Thank you!!