28 Sivan 5774
Language can be manipulated, but numbers don't lie. Or do they?
The reported "unemployment" rate in the US is 6.3 %.
But, the "labor force participation" rate is 62.8 %. Using that statistic, that means that 37.2 % of the population is unemployed.
According to this report, less people working results in a lower unemployment rate...
"The tepid labor force participation rate, which has hovered for months at its lowest level in four decades, is a primary reason the unemployment rate has fallen rapidly in the years since the recession ended in 2009."
Can anyone else make sense of this? I sure can't! However, this I get...
"...the headline unemployment rate has proven misleading as an indicator for the health of the broader economy,...."