Tuesday, March 8, 2011

Still not the jobs report we want to see

The good news - 192k new jobs on February and unemployment down to 8.9%.  The not so good news - unemployment is down because more and more people are leaving the labor force.  WSJ reports the labor force participation rate (employed plus unemployed divided by adult population) is at a 25 year low and that disability rolls are at an all-time high.  Many older workers who have lost their jobs have become de facto retired. 

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