Curious why despite the huge miss in payrolls
the unemployment rate tumbled from 7.0% to 6.7%? The reason is because
in December the civilian labor force did what it usually does in the New
Normal: it dropped from 155.3 million to 154.9 million, which means the
labor participation rate just dropped to a fresh 35 year low, hitting
levels not seen since 1978, at 62.8% down from 63.0%.