Friday, June 04, 2010

That Jobs Report? It's Worse Than You Think

Ticker goes to the fine print and looks at "Not In Labor Force."

Eek. After several months of improvement in the "not in labor force" number, showing that people were re-entering the labor force seeking jobs, this month showed new deterioration in that leading indicator of hiring.

That is, we once again have more people leaving the workforce despite May being one of the two months that typically record big gains in the labor force due to graduation of both High Schools and Colleges, and the "forward expectations" of "about to be new graduates" entering the workforce.

Not very good news.


J. Strupp said...

True. But keep in mind that there's just a ton of noise in month to month data. The long term trend still points to labor market improvement and my guess is that this will continue. It's just going to be slow, slow, slow improvement which will take years and years to get back to some sort of normalcy.

This is tha fate we chose. We could do more, but we don't and so it is what it is I guess.

Our current leadership seems to be comfortable with having 8 million people out of work while the opposition is promoting policies that could put an additional 8 million people out of work.

Interesting times we live in.

Dan said...

Darn it Dad, you post this and the Dow drops over 300 points. Stop telling the truth. :)