"To announce that there must be no criticism of the president, or that we are to stand by the president, right or wrong, is not only unpatriotic and servile, but is morally treasonable to the American public." -- Theodore Roosevelt


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Friday, September 5, 2014

Obamanomics in Action: Record 92,269,000 Not in Labor Force


"But on the upside record numbers of people are on disability. Don't all you folks thank me at once."

Yeah well, I'm sure it's part of some racist plot to make Obama look bad or something...

From CNS News (via Drudge):

A record 92,269,000 Americans 16 and older did not participate in the labor force in August, as the labor force participation rate matched a 36-year low of 62.8 percent, according to the Bureau of Labor Statistics. 
The labor force participation rate has been as low as 62.8 percent in six of the last twelve months, but prior to last October had not fallen that low since 1978.  
[...]  
The 92,269,000 who did not participate in the labor force are those in the civilian noninstitutional population who did not have a job and did not actively seek one in the last four weeks. Because they did not seek a job, they did not count as “unemployed.” 
Of the 155,959,000 who did participate in the labor force, 146,368,000 had a job and 9,591,000 did not have a job but actively sought one. The 9,591,000 are the unemployed. They equaled 6.1 percent of the labor force—or an unemployment rate of 6.1 percent (which was down slightly from the 6.2 percent unemployment rate in July).

And how many of these 92+ million are people who have just given up looking for a job? I suspect a pretty fair amount. Obama's economic policies, political bullying of employers, and ObamaCare have made the job market a real joy for the past several years.


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