Have you heard about the "wonderful" employment numbers that were just released? Last month, the unemployment rate declined to 7.3 percent. Somehow this happened even though the percentage of working age Americans with a job actually
declined and the number of private sector workers fell by
278,000. So how did the federal government magically produce a drop in the unemployment rate even though less people have jobs? Well, they did it by pretending that more than half a million Americans "dropped out of the labor force" last month. If the government is to be believed, the number of Americans that want to work dropped by an astounding
516,000 in a single month even though the population of our country is constantly increasing. The federal government continues to feed us absolutely absurd numbers month after month, and at this point "the official unemployment rate" is essentially meaningless.