One good economic number to watch is “workweek labor hours”. This points to what people are working on average for a week. Continue reading →
No matter what “great” numbers the federal government puts out about unemployment, one indicator clear thinking investors look at in the health of a nation is labor force participation. Graph is courtesy ZeroHedge.
While by now everyone should know the answer, for those curious why the US unemployment rate just slid once more to a meager 5.9%, the lowest print since the summer of 2008, the answer is the same one we have shown every month since 2010: the collapse in the labor force participation rate, which in September slide from an already three decade low 62.8% to 62.7% – the lowest in over 36 years, matching the February 1978 lows. And while according to the Household Survey, 232K people found jobs, what is more disturbing is that the people not in the labor force, rose to a new record high, increasing by 315,000 to 92.6 million!
Hat Tip Indianapolis political pundit Abdul Hakim-Shabazz
Indiana unemployment rate drops 0.1% to 5.8%.