Of Course The Unemployment Rate Dropped

The pool of unemployed is at a 27 year low.

                                   
Rick Santelli.                               

The government's definition of the labor force is all individuals 16 years of age and older, who are employed or seeking employment. It does not include students; retirees; anyone with unreported income, or "discouraged" workers.

The participation rate is the comparison of the "labor force," those looking for work or employed, and everyone else. That ratio is currently 64.2 percent seasonally adjusted, and 63.9 percent non-seasonally adjusted, the same level as last month. Both of those percentages are currently running at 27-year lows, meaning the percentage of Americans not working or even trying to join the work force is at a near three-decade high.

And the spot on reason for this sleight of hand goes to Steve Gilbert from his great piece.

After all, the important thing is to get the unemployment rate below the magical 8% before the 2012 elections, by hook or by crook.

These folks running the White House can't be trusted to give you the correct time of day........