Payroll Disaster: Nonfarm Payroll +115,000 Establishment Survey But -169,000 Household Survey, Labor Force Drops by 342,000

"Quick Notes About the Unemployment Rate 

• US Unemployment Rate fell .01 to 8.1%
 
• In the last year, the civilian population rose by 3,638,000. Yet the labor force only rose by 945,000. Those not in the labor force rose by 2,693,000.
 
• The Civilian Labor Force fell by 342,000.
 
• Those "Not in Labor Force" increased by 522,000. If you are not in the labor force, you are not counted as unemployed.
 
• Those "Not in Labor Force" is at a new record high of 87,419,000.
 
• By the Household Survey, the number of people employed fell by 169,000.
 
• By the Household Survey, over the course of the last year, the number of people employed rose by 2,237,000.
 
• Participation Rate fell .2 to 63.6%
 
• There are 7,853,000 workers who are working part-time but want full-time work
 
• Were it not for people dropping out of the labor force, the unemployment rate would be well over 11%..."

at http://globaleconomicanalysis.blogspot.com/2012/05/payroll-disaster-nonfarm-payroll-115000.html