This story is actually over a month old. It’s been sitting in the “drafts” folder. Still just as relevant as the day it was published.
In April the number of people not in the labor force rose by a whopping 522,000 from 87,897,000 to 88,419,000. This is the highest on record. The flip side, and the reason why the unemployment dropped to 8.1% is that the labor force participation rate just dipped to a new 30 year low of 64.3%.
Whenever you see anything about the “unemployment” rate always keep in mind that number only tells part of the story. The bottom line is that things are really really bad out there. Well that and the MSM doesn’t want to tell you about it. Which is why you have to go to site like ZeroHedge to find out what’s really going on.