Saturday, July 6, 2013

$2 Trillion Shadow Economy Not Counted in Jobs Numbers

The labor market is improving, and the shadow economy is growing too.
Jobs are being added at an average of 172,000 per month according to the Labor Department, slowly bringing the unemployment rate down. Consensus forecast is 7.5% for June, down from 8.2% a year ago.
At the same time, one persistent and disquieting theme of the so-called recovery is the staggering number of people who have dropped out of the labor force. The labor force participation rate was 63.4% in May, and it has been hovering around a 30-year low for more than a year.

http://finance.yahoo.com/blogs/daily-ticker/2-trillion-shadow-economy-not-counted-jobs-numbers-114838216.html 

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