Posted on 02/08/2012 10:10:00 AM PST by GVnana
GVnana-
I’m not disagreeing with you. And sorry for the source, I just picked the first one that came up that was in plain english without really looking at who it was. The BLS link I gave you explains it all, tho’ in a rather convoluted way. It’s at the end of the release and further explained in footnotes.
My only point was that 1.2 million people did not leave the workforce in one month - it’s a catch-up number from the previous decade. And the main reason why 1.2 of the 1.5 undercounted are not in the workforce is that most of them were either over 65 or 16 and under.
I know the official unemployment rate is a joke. If we counted unemployed the same way they did during the Great Depression (when unemployment was 25%+), we’d have an unemployment rate closing in on 20%.
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