People Who "Want A Job Now" Jumps To Second Highest Ever As Persons Not In Labor Force Reaches Record
Some more facts emerging from a look at two more sub-headline indicators: the persons not in the labor force, which we noted in the prior post, is now at the highest ever, at 84,626K, an increase of 462K from September. This odd change conveniently allowed the unemployment rate to stay low. And more importantly, the number of people who want a job now per Table A-1 is now the highest in 2010, and the second highest in history: 6,255K, an increase of 53K from the month prior. Good thing that none of the 462K other who dropped out of the labor force had any desire to work, as otherwise both the U-3 and U-6 would have painted a far uglier picture than presented.