Wednesday, November 20, 2013

Labor Force Participation Rate

Word is finally leaking out that the Bureau of Labor Statistics fudges their unemployment data, painting a rosier employment picture than reality.  It renders the U-3 unemployment rate completely meaningless and masks the truly precarious joblessness of the US.

The labor force participation rate is the true indicator of how putrid the labor economy is.  It has sunk to a 35-year low.  The US was embroiled in one of the worst recessionary stagflations under the Jimmy Carter presidency in 1978.  The US economy wasn't growing then--and it's not growing today, despite equally rigged GDP growth data--again, released by the BLS.

Government statistics have become one big propaganda campaign of disinformation.  Actual labor force participation may be even worse, as the rate is published guessed it...the BLS.

Click on Image to Enlarge

No comments:

Post a Comment