What most analysts are missing is that unemployment actually ticked DOWN because of something called
the labor participation rate. This is a ringing vindication of the current administration's social engineering prowess. The more applicants that drop out of the labor pool, the better the chance for the truly commited
to get hired. Lather, rinse , and repeat a few more times and unemployment will run in the low single digits,
or even tenths of a digit.
An increasing amount of that labor participation decrease is baby boomers retiring out of the work force. It's not quite so simple as you think, but it's really not what this weeks numbers were about. What we saw this week was a decrease in the net number of jobs added to the economy after layoffs.. The non-government economy is growing, which is good, because the sequester is causing government related layoffs.