For John, BLUF: I think the number is not a true reflection. Nothing to see here; just move along.
The unemployment rate fell to 4.7%, largely because 458,000 people left the labor force.And no one replaced them?
I wonder if the Bureau of Labor Statistics has a grace period for high school graduates, before they are thrown into the mix. It seems doubtful, given that they count people who have reached the age of 16.♠
Hat tip to the InstaPundit.
Regards — Cliff
♠ I sent Senator E Warren a letter (Snail Mail), asking about this 16 years of age thing. I will report what I hear.