Thursday, March 28, 2013

The Abnormal In New Normal Joblessness

RealClearMarkets - There's Lots of 'Abnormal' In 'New Normal' Joblessness: "February's job report showed nonparticipants at 89.3 million. That's almost a million more than 2012's annual rate (88.3 million) and almost 10 million more than 2008's annual rate (79.5 million). Looked at another way: If 2008's labor force participation rate of 66% prevailed today, instead of February's depressed 63.5%, then there would be over six million more in the labor force and the unemployment rate would be an incredible 11.6% - the highest in the BLS' records!"

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New Normal - Google News