|"Who are you going to believe on the economy, folks? Me? Or your own lying and racist eyes?"|
From Tyler Durden at Zero Hedge:
#1 The percentage of working age Americans with a job fell to 58.3 percent in October. The lowest that number has been at any point since the year 2000 is 58.2 percent. In other words, there has been absolutely no "jobs recovery". During the last recession, the civilian employment-population ratio dropped from about 63 percent to below 59 percent and it has stayed there for 50 months in a row. Will the percentage of working age Americans with a job soon drop below the 58 percent mark?...
#2 The U.S. economy lost 623,000 full-time jobs last month. But we are being told to believe that the economy is actually getting "better".
#3 The number of American women with a job fell by 357,000 during the month of October.
#4 The average duration of unemployment in October 2013 was nearly three times as long as it was in October 2000.
#5 The number of Americans "not in the labor force" increased by an astounding 932,000 during October. In other words, the Obama administration would have us believe that nearly a million people "disappeared" from the U.S. labor force in a single month.
#6 The number of Americans "not in the labor force" has grown by more than 11 million since Barack Obama first entered the White House.
#7 In October, the U.S. labor force participation rate fell from 63.2 percent to 62.8 percent. It is now the lowest that it has been since 1978. Below is a chart which shows how the labor force participation rate has been steadily declining since the year 2000. How can the economy be "healthy" if the percentage of Americans that are participating in the labor force is continually declining?...
#8 If the labor force participation rate was still at the same level it was at when Barack Obama was elected in 2008, the official unemployment rate would be about 11 percent right now.
#9 Even if you are working, that does not mean that you are able to take care of yourself and your family without any help. In fact, approximately one out of every four part-time workers in America is living below the poverty line.
#10 In January 2000, there were 75 million working age Americans that did not have a job. Today, there are 102 million working age Americans that do not have a job.
So what are our politicians doing to fix this?
Shouldn't they be working night and day to solve this crisis?
After all, Barack Obama once made the following promise to the American people...
"But I want you all to know, I will not rest until anybody who's looking for a job can find one -- and I'm not talking about just any job, but good jobs that give every American decent wages and decent benefits and a fair shot at the American Dream."Unfortunately, things have not improved since Obama made that promise, but he has found the time to play 150 rounds of golf since he has been president.
Meanwhile, because there aren't enough jobs, the number of Americans living in poverty continues to grow.
As I wrote about the other day, according to new numbers that were just released an all-time high 49.7 million Americans are living in poverty.
It's enough to keep you up nights.
Obama has done the worst job of handling the U.S. economy then any previous president. Hands down.