A couple of days ago, I heard a FAUX radio news speaker claim that the percentage of people employed was 95.3%. I assume this was calculated by subtracting the current unemployment rate, 4.7%, from 100%. Of course, it is false. The real percentage of people participating in the labor force is much lower, as you can see from this graph obtained from the Bureau of Labor Statistics.
Series Id: LNS11300000
Seasonal Adjusted
Series title: (Seas) Labor Force Participation Rate
Labor force status: Civilian labor force participation rate
Type of data: Percent
Age: 16 years and over
Monday, December 10, 2007
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