Is there more to this? Yes. The Labor Participation Rate dropped to 64.5% of the labor force from 64.7 percent the previous month. The number of people actually employed dropped by 330,000. Oh, but remember, food service was up! More people are eating burgers!
by docj on Fri, 11/05/2010 - 07:43 #702232
Both the civilian labor force participation rate, at 64.5 percent, and the employment-population ratio, at 58.3 percent, edged down over the month.
Evidently, we didn't even do that.
So how this is accomplished in a month when we printed < 400K initial new jobless per week remains a total and complete mystery. Unless of course we now need more than +150K just to keep up with population growth.
*
by Cognitive Dissonance on Fri, 11/05/2010 - 07:35 #702205
So the cover story is falling apart and the veil is being lifted. Why indeed do we need QE 2?
Because the bankers need it more than anyone or anything else. And the Fed IS the banking cabal.
