Jobless Rate is at 11.4%


“One does not need to be a rocket scientist to grasp the fudging the BLS has been
doing every month for years now in order to bring the unemployment rate lower:
the BLS constantly lowers the labor force participation rate as more and
more people “drop out” of the labor force for one reason or another.”

“While there is some floating speculation that this is due to early retirement,
this is completely counter-factual when one also considers the overall rise
in the general civilian non institutional population.”

“In order to back out this fudge we are redoing an analysis we did first back in
August 2010, which shows what the real unemployment rate would be using
the real labor force participation rate.”

Read More about it from Tyler Durden