Wednesday, March 13, 2013

The Falling Unemployment Rate Lie Visualized

The Falling Unemployment Rate Lie Visualized
If you get your business/economics news from sources outside of the MSM, you know that the government has crushed down the labor force participation rate in order to report an unemployment rate that's appears better than it really is. But you've likely never seen a visualization of the data massaging. Well, here you go.

The government has been telling us that a population the size of New York City--approximately 10 million people-- have thought an economic depression would be a good time in which to either retire, stop looking for work, or reach working age but not even look for a job. I realize that the welfare state has expanded during the Obama administration and many Baby Boomers are retiring. But a chart like this looks awfully fishy. As you can see, since the Great Depression, the unemployment rate has never fallen in tandem with the labor force participation rate like it has over the last few years:

The Falling Unemployment Rate Lie Visualized - unemployment vs. labor force participation

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