What started out as an idea on Facebook mushroomed into a full scale political rally on Saturday as more than 3,000 people braved frigid temps to attend a ‘Celebrate Walker’ rally in support of Wisconsin Governor Scott Walker.
The event was not organized by state or local Republican Parties nor…
Rep. Gabrielle Giffords (D-Ariz.) announced on her facebook page Sunday that she will resign from Congress this upcoming week. On January 8, 2010, Giffords was shot in the head in a Tucson grocery store parking lot while meeting with constituents. Six people were killed and 13 others, including…
To get that we used the average rate since 1980, or ever since the great moderation began. As it happens, this long-term average is 65.8% (chart 1). We then apply this participation rate to the civilian noninstitutional population to get what an “implied” labor force number is, and additionally calculate the implied unemployed using this more realistic labor force. We then show the difference between the reported and implied unemployed (chart 2). Finally, we calculate the jobless rate using this new implied data. It won’t surprise anyone that as of December, the real implied unemployment rate was 11.4% (final chart) - basically where it has been ever since 2009 - and at 2.9% delta to reported, represents the widest divergence to reported data since the early 1980s. And because we know this will be the next question, extending this lunacy, America will officially have no unemployed, when the Labor Force Participation rate hits 58.5%, which should be just before the presidential election.
