The July unemployment report was no news. Which is good news because a bad report would have really hit the market and the Obama administration really hard. I have to believe the president get some sort of briefing before the numbers are released.
However, there is one interesting story: the big drop in the number of people in the labor force and employed since the recession began. Both measures have be hit hard.
The drop in the employment to total poluation ratio and the labor force to population ratio has been dramatic. People are dropping out of the labor force left and right.
You can see the employment ratio is four percentage points lower since the recession started. And the civilian labor force has drop by 2%.
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