Good, Not Great, Employment Number

Up 275,000 -- jobs created in October.  That's a good number.  But, hardly a great number.  62.5 % labor participation rate is a terrible number.  Americans are still leaving the work force in record numbers, having given up any hope of getting a job.

The reported unemployment rate is 5.0 percent, which is only comforting to the confused.  If Americans continue to avoid work, because the economy is so poor, an unemployment rate of zero isn't going to mean much. Corrected for folks who have quit looking, the "real" unemployment rate is closer to 10 percent - typical of recession levels.

Free markets, not government bureaucrats, are what we need.  Don't expect much from the economy until free markets gain a little visibility -- not likely any time soon.

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