The number of working age Americans unemployed as risen by almost ten million under Obama
Freedom Outpost – Michael Snyder
– 1/13/2014
That headline is not a
misprint. The number of working age Americans that do not have a job has
increased by nearly 10 million since Barack Obama first entered the White
House. In January 2009, the number
of “officially
unemployed” workers plus the number of Americans “not in the
labor force” was sitting at a grand total of 92.6 million. Today, that
number has risen to 102.2 million.
That means that the number of working age Americans that are not working has
grown by close to 10 million since Barack Obama first took office. So why does
the “official unemployment rate” keep going down?
Well, it is because the
federal government has been pretending that millions upon millions of
unemployed workers have “left the labor force” over the past few years and do
not want to work anymore. The government says that another 347,000 workers
“left the labor force” in December. That is nearly five times larger than the
74,000 jobs that were “created” by the U.S. economy last month. And it is
important to note that more
than half of those jobs were temporary jobs, and it takes well over 100,000
new jobs just to keep up with population growth each month. So the unemployment
rate should not have gone down. If anything, it should have gone up.
In fact, if the federal
government was using an honest labor force participation rate, the official
unemployment rate would be far higher than it is right now. Instead of 6.7
percent, it would be 11.5
percent, and it has stayed at about that level since the end of the last
recession.
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