yeah, I have lost faith in cnn, but the labor participation rate isn't a very good indicator.
I would like an adjusted labor participation rate that removes
1) people in college/retraining
2) age (aka retired/early retire)
3) people who take themselves out by personal decisions (stay at home parents, sabbatical, people taking time off)
I know people in those 3 camps that are being considered part of the labor pool, but aren't looking for work.
Yeah, cnbc had an article saying if we were to adjust the unemployment number accounting for those factors and others like welfare and food stamps program participation, the number would be more like 9.3%. Bottom line, don't be lazy, and don't expect that 250k degree in Psychology to get you much.
