Take a look at those numbers. The number of unemployed is indeed down by 239,000, but where did they go? Not to the ranks of the employed, which rose by only 3,000. It turns out they left the labor force entirely, which is why the civilian labor force fell by 236,000 even though the total population grew.Spotted a pension stampede.
Friday, May 4, 2018
Kevin Drum!
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