Unemployment rises to 7.3%. Not a good month at all when you look at the big picture, according to Zero Hedge, as reported in the Right Scoop.
But more importantly, the number of people not in the labor force exploded by nearly 1 million, or 932,000 to be exact, in just the month of October, to a record 91.5 million Americans! This was the third highest monthly increase in people falling out of the labor force in US history.
That’s nearly 1/3rd of the entire American population. Talk about fundamental transformation: