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're likely aware that the BLS has been crushing down the labor force participation rate in order to lower the unemployment rate. But even the well-informed may not have seen a chart of the data massaging.

Washington has been selling the narrative that a population the size of New York City--approximately 10 million people--have thought that 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. 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 since the Great Recession:

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

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