The devil is always in the detail. So it is with April's unemployment rate report of 8.1%. Understanding the method of computation is vital importance whenever referencing any statistic, particularly employment numbers which are prime for abuse and butchering by politicians. The headline unemployment rate continues to improve, but mostly thanks to the way it's calculated. Today's decline in the labor force participation rate to 63.6% brings the level to a 3-decade low.
- Employers in U.S. Added Fewer Jobs Than Forecast in April Unemployment Rate at 8.1%, But Only 115K New Jobs
- Bill Gross: The unemployment issue is structural Santelli On Propaganda And Ostrich Economics
- Average hourly earnings flat month-over-month and up only +18.% versus prior year (well below inflation)
- Labor force participation rate falls to lowest since 1981:
