Cleft sticks and the great American novel Joseph Heller wrote Catch 22 in 1961 (under the working title Catch 18, a number already taken by Leon Uris in Milia 18, so therefore unavailable) and the subject of the title immediately entered the lexicon of English speakers everywhere and remains there still. Yossarian’s dilemma is well known yet rarely encountered. Oddly, we have seen it in play twice this month. Firstly, the US reported its idiotically named Non-Farm Payrolls number for April which came in at 288,000 new jobs, a 2 year high, while the unemployment rate fell to 6.3% from 6.7% the prior month. These were great numbers, both prima facie & in actuality. However, the participation rate – the percentage of adults actually in the employment system either in work or seeking work – continued to fall to new record lows (around 62.5%) while most of the new jobs … Continue reading 9.5.14 Edition of The Clearance