Schools out for[ex] summer....June edition

from one scribe...

We were told that the unemployment number dropped from 9.7% to 9.5%. That's a good thing, right? Well, no, not really. The number dropped because the number of people counted as being in the labor force dropped. If you haven't looked for work for four weeks, you are not counted as unemployed. If you add those who were taken off the rolls back in, the unemployment number would have risen to 9.9%. In the past two months nearly one million people have dropped out of the labor market.

If you counted all the people who would take a job if they could find one as unemployed, the unemployment number would be closer to 11%.