Digging Still Deeper In Friday's Jobs Report; What's the Real Unemployment Rate?

``The fact is, employment fell by 190,000 according to the Household Survey and another 131,000 people dropped out of the labor force last month or the unemployment would have been even higher. Fewer people (131,000 to be precise) wanted a lob and looked for jobs in April than in March... close scrutiny of the details in the report shows the headline numbers were far worse than they looked.'' -- Many good details in here (for instance, have you thought of the category "people hiding out in school when they'd rather have a job"?)