good news on jobs

Nobody "dropped out of the workforce" last month and 1.2 million whites didn't disappear. This was the month for annual revisions, just like every other year. All the revisions from the 2010 census are also all compiled into one month. Then models and estimates are adjusted as well.

If you track these numbers, they can be revised years from now. So, of course, you should look deeper. They were adjusted downward after the fact in the last recession.
 
We must be looking at different graphs since mcbrett's only goes to 2005 and he admits he couldn't find one through 2011. In any case, the underlying numbers of those not looking for work having given up is somewhat alarming. I do give credit to the Bush admin following the 2002 recession, both the participation rate and unemployment rate went in the right direction. We seem to be in a free fall since 2006.
 
RoughedUP
You posted ;"Nobody "dropped out of the workforce" last month "
Bernake, speaking before congress ,disagrees with you.
from link
"Federal Reserve Chairman Ben S. Bernanke said the 8.3 percent rate of unemployment in January understates weakness in the U.S. labor market.

“It is very important to look not just at the unemployment rate, which reflects only people who are actively seeking work,” Bernanke said today in response to questions at a hearing before the Senate Budget Committee in Washington. “There are also a lot of people who are either out of the labor force because they don’t think they can find work” or in part- time jobs
“The 8.3 percent no doubt understates the weakness of the labor market in some broad sense,” Bernanke "The Link

he did note that some job indicators are improving. But it is purely stupid to say that people have not dropped out of looking for jobs
 
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