Friday, May 4, 2012

April Unemployment Perspective

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.

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