Job Growth Falls Sharply

Surprise!

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".