Tuesday, April 29, 2003

Many Quiting the Labor Force after Months and Years of No Offers.


NY Times -- More than 74.5 million adults were considered outside of the labor force last month, up more than 4 million since March 2001, the Department of Labor says. They are people who fall outside the government's definitions of either employed or unemployed.

So, to get the true jobless rate add 4 million which would be about 9% unemployment instead of 5.8%.

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