Controversey Over Jobs Report; Did 1 Million People Really Drop Out of Labor Force Last Month?

Earlier today, ZeroHedge reported that today's employment report appeared to reveal that 1.2 million people dropped out of the labor force in January. CNBC's Rick Santelli also made a similar argument. Business Insider's Joe Weisnethal, however, tweeted out a link which suggests that this isn't the case at all.

A blog called the "Bonddad" suggests that the discrepancy in the data is due to the fact that the BLS used 2010 census data in the report. The blog states that, "In other words, the changes in the Household Survey to the various measures had taken place over the years prior to 2010, but for simplicity's sake, the BLS incorporates these changes into one month (which they clearly point out)." View the full post here.