The improvement in the unemployment rate earlier this month was certainly positive on the surface. The rate declined to 8.6% from the previously reported 9%. The improvement though came largely from the 300,000 individuals that simply stopped looking for a job. As a result, these additional people are not counted among the unemployed. As the below chart shows, the number individuals not in the labor continues to rise.
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| From The Blog of HORAN Capital Advisors |
This fragile state of the consumer also shows up in the number of individuals on food stamps.
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| From The Blog of HORAN Capital Advisors |
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