Unemployed Dropping Out of Labor Pool

[No Mandate Here.]

As per the AP, we are really making progress on the job front. I am sure that * would prefer this to stay quiet.

<http://www.nytimes.com/aponline/business/AP-Work-Force-Dropouts.html>

[mhr]

1. From the Article

Snip ......

Those people say they have stopped looking because of frustration or personal responsibilities, such as deciding to attend school.

That growing trend has caused the participation rate to fall 1.2 percentage points since the start of the recession in March 2001. This is the first time the participation rate has fallen 27 months into an economic recovery.

``Normally in a recovery the participation rate would rise,'' said Sung Won Sohn, Wells Fargo's chief economist. ``People hear about the improving economy and more job opportunities so they actually come out of the woodwork. We are seeing the opposite of what's been normal in the past. That's why the jobless rate has really become somewhat of a misleading indicator.''

Snip ......

[No Mandate Here.]

3. Thanks for adding the snips. I'll get better at this soon.

[Bob3]

4. I love the use of the weasel words "somewhat of a misleading indicator"

But that is economic speak. They mush everything. Trivial fact - in the early 20th Century it was decided to use the word depression rather than the word "panic". Well that turned out real good no?

[mhr]

2. More From The Article

Snip ......

If those people who want jobs but aren't looking were counted, the unemployment rate would be more than 7 percent, said Mark Zandi, chief economist at Economy.com.

``To me, that is much more representative of the state of the job market,'' he said. ``It doesn't feel like a 5.6 percent job market. It feels like more of a 7 or a 7 and a half percent job market.''

Snip ......

[sam sarrha]

5. i'm out and it doesnt look like im comm'n back if i wanted to. NO F'n jobs