An economics, investment, trading and policy blog with a focus on Modern Monetary Theory (MMT). We seek the truth, avoid the mainstream and are virulently anti-neoliberalism.
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Monday, February 6, 2012
Robert Oak — About Those 1.252 Million People Who Dropped Out of the Labor Force
Robert Oak parses the BLS and Census Bureau numbers.
This is pretty complicated, but the bottom line seems to be that there wasn't really much good news in Friday's employment report. It just confirmed that people are dropping out of the labor force due to expiration of benefits and lack of opporunity. Also, many are getting jobs, but the pay is not good.
This is pretty complicated, but the bottom line seems to be that there wasn't really much good news in Friday's employment report. It just confirmed that people are dropping out of the labor force due to expiration of benefits and lack of opporunity. Also, many are getting jobs, but the pay is not good.
ReplyDeleteThat's my take. How about you?