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The US BLS released new employment situation numbers today that show no net increase in unemployment. Yet, they are also showing a 0.5% drop in the participation rate, and that over 1 million people were pulled from the labor force statistics. If we added in that them back into the labor force as unemployed, that would bump the U-3 rate up another 0.73 % from 6.0% to 6.73%.
Am I reading this right?
Did they seriously just fudge the numbers to show an almost full point increase in unemployment as a net decrease over the last month? And I'll give my consent to any government that does not deny a man a living wage-Billy Bragg
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