I'm not asking a rhetorical question here: do you two believe that this was a real reduction? Do you believe that over 500k dropping out of the labor force is a legitimate point or is politically hackish? Do you think that looking past the 7.7 number and digging in is somehow being intellectually dishonest?
Honestly, the drop of .1 is really insignificant. You need to follow the numbers over several months or even a year to get an accurate picture.
Having said that I am enjoying the meltdown from posters who believe that the numbers are cooked. They honestly believed that the 7.8 number was "rigged" and that the new number were going above 8.
I would like to hear more about the analysis of workers dropping out of the force. I know the definition but a lot of people talk about it as if it is more people just giving up on life and living in a hut somewhere. I think that the baby boomer retirements have a lot to do with it
. My mother held off retirement for several years because she was concerned about their inability to sell their house in a down market. When they finally sold in late summer, she announced her retirement. Coincidentally, it became official just recently with her last day about a month ago.
But I would appreciate more evidence on the "dropping out" rates.