Another new low for the Spite House as a record 91,800,000 American Adults of working wage are not participating in the labor force.
By “Tyler Durden” ZeroHedge
Curious why despite the huge miss in payrolls the unemployment rate tumbled from 7.0% to 6.7%? The reason is because in December the civilian labor force did what it usually does in the New Normal: it dropped from 155.3 million to 154.9 million, which means the labor participation rate just dropped to a fresh 35 year low, hitting levels not seen since 1978, at 62.8% down from 63.0%.
And the piece de resistance: Americans not in the labor force exploded higher by 535,000 to a new all time high 91.8 million.
The jobless, laborless recovery continues to steam on.
And it, like all the other products of the POR economy, remains a steaming pile of excrement.