"And in the household survey I do not like what I see.
The total number of people of working-age went from 243.155 (million) to 243.354, or 199,000 more working-age people. However, the number of employed people dropped from 143.202 (million) to 143.126, or an actual drop of 76,000 jobs.
Worse, the number of people not in the labor force increased from 86.770 million to 86.828, or an increase of 58,000 -- people who simply gave up."
http://data.bls.gov/timeseries/LNS11300000 Labor participation rate fell to near lowest levels.I wish the data was cut and dry, if you watch that fool Mark Zandi and CNBS.....it is always bullish and hard to hear analytical thought.
We don't want bull nor bearish opinions, just someone who cares to present an honest opinion.
The market perhaps will can can make NEW HIGHS within the context of this Secular bear....kind of a crazy premise, but unltimately the folly ends and the target of previous lows is taken on.
3 PLUS years into "recovery" 8.3% OFFICIAL unemployment, one of the weakest labor participation rates since they kept the data, and the pundits will run with todays data and declare VICTORY? PROOF OF HEALTHY ECONOMY?