A huge number of people dropped out of teh work force and THEY are not counted...that is why the unemployment rate “appears” to have gone down. It is bogus in the extreme. If you count all who have left the workforce (stopped looking) the real unemployment rate is much much higher!
“A huge number of people dropped out of teh work force and THEY are not counted...that is why the unemployment rate “appears” to have gone down. “
Today 1010 WINS in NY actually reported this factoid pretty much as you stated it. I alomost fell over.