Labor Participation Rate for July at an Anemic Low of 62.9%
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(Zero Hedge) July’s economic news wasn’t nearly as rosey as Obama claimed during his press conference today but what’s new about that?
July payrolls increased by 209,000 well below the 230,000 jobs economists expected and the news gets worse–11.4 Million Americans age 16 and over have left the workforce since Obama took office according to CNS News in July, there were 92,001,000 Americans age 16 and over who were classified as not in the work force, this number has increased by 11,472,000 since January, 2009 when the number of Americans not in the labor force was 80,529,000
The unemployment rate increased to 6.2% in July while the real unemployment rate (which includes the U-6 rate plus those Americans marginally attached to the workforce) stands at 12.2%
More here from CNBC
