Whopping 932,000 Americans Drop Out Of Labor Force In October; Participation Rate Drops To Fresh 35 Year Low
Submitted by Tyler Durden on 11/08/2013 08:44 -0500


The only two charts that matter from today's distorted nonfarm payrolls report.

First, the labor force participation rate, which plunged from 63.2% to 62.8% - the lowest since 1978!



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.



At this pace the people out of the labor force will surpass the working Americans in about 4 years.

http://www.zerohedge.com/news/2013-11-08...ation-rate-drop


Another related article from ZeroHedge:
Retail, Hotel And Temp Workers Account For Half Of All October Job Gains
Submitted by Tyler Durden on 11/08/2013 09:43 -0500

Following the quantity breakdown of jobs in the month which saw the third biggest jump in people not in the labor force in history and a loss of over 600,000 full-time workers (don't ask how this is possible - not even the BLS knows), next we look at the quality of October jobs. Or lack thereof. Because the top job-gaining sectors were also the worst of all: Leisure and Hospitality; Retail; and Temp Help, namely minimum wage hotel workers and retailers, amounted to roughly half of all job gains.
. . .
As to why these jobs "gains" are in fact a net drag on the economy the WSJ shows just how much public benefits workers in the abovementioned "fast growing" industries get courtesy of the government.



http://www.zerohedge.com/news/2013-11-08...tober-job-gains

Yes Zero is VERY good at killing . . . jobs, the economy, and the middle class.