Good news on the unemployment front. 5.9% is the new low! Well done! Don't worry about that Labor Force Participation Rate, though. Just a distraction. New high in that, too. As people not in the workforce rose 315,000 to 92.6 million. Forward!
Damn those Chicago Boys! No doubt the Obama Administration fears the Tea Party taking over Congress! Oh wait....
I agree with Tao. The declining unemployment rate is to a large extent an illusion resulting from a declining labor force, and redefining of "unemployment" a number of years ago. There has been some job growth but because of the declining labor force it is weaker than the much trumpeted unemployment rate would suggest. Furthermore, and of greater concern, is the quality and type of jobs being created.
A favorite of Janet Yellen is the Jolts report out this morning. Note the difference between the # of new job openings and new hires. The # of quits is watched closely as the operative assumption is that people don't quit unless they see a high degree of fluidity in ability to move to another job. http://www.bls.gov/jlt/
If you are full time trading, The Bureau Of Labor Statistics does not count you as in the Labor Force. So, we are part of the statistics of people "not in labor force". I just did not realize there are so many day traders/traders around.