The Ghost has been telling people, using research done by Paul Craig Roberts, that the job reports they have been reading in the news has been a total farce. The LA Times is now reporting on what we've been saying for years
The nation's unemployment rate last month dipped a notch to a new four-year low of 7.6%, but for the wrong reason. It dropped because the labor force, those working and looking for jobs, fell by nearly a half-million people. In fact, the share of working-age Americans participating in the labor force declined to a new three-decade low of 63.3%.A three decade what?
But all these reports of people becoming employed does not square with a three decade low labor force participation rate.
This is usually where someone says something along the lines of "I told you so".
