OMFG: Nearly One Million Drop from Labor Force in October – Lowest Participation Rate Since Carter
The unemployment rate rose to 7.3% in October.
The US labor force participation rate, plunged from 63.2% to 62.8% in October. Zero Hedge added that the number of people not in the labor force exploded by nearly 1 million, or 932,000 to be exact, in just the month of October.
It is the lowest participation rate since 1978 – during the Carter years.
It is the lowest participation rate since 1978 – during the Carter years.
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3 comments:
And even Fox News is blaming it on the "Republican" government shutdown in October.
I'm beginning to understand how Churchill felt when Singapore fell.
Oh, for God's sake. You gotta be kidding me about Fox News.
Friggin' idiots.
There really is no mainstream news source that can be counted on to tell the truth anymore, is there?
Not kidding. Heard it at work on the radio during the Limbaugh show. I was hoping Rush would pick it up but he didn't. What I don't understand is why the shutdown doesn't also get credit for the "unexpectedly" high job creation numbers. But Fox, which has the news breaks on the local Limbaugh channel, didn't get around to mentioning that fact.
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