The labor force participation fell by two tenths of a percent to 63.6% of the available or potential work force (folks 16 years and older and able to work). In hard numbers, this total represents a loss 540,000 people. Without this loss in manpower, the current unemployment rate would be unchanged at 7.9%, using Obama's DoL numbers.
(I, your humble educated Okie pundit, have found that “256,000” is a number that
works well with a .1% change in the larger unemployment number. For every 256,000 Americans who are added or
taken from the “work force,” the nation
experiences a .1% change in the larger statistic).
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Unemployment: Improving or stagnate? You decide. |
Add to the nominal number of 8 million Americans who are no
longer working and no longer being counted in the unemployment totals (!!!!) a total of 8.8 on disability, and the situation becomes quite bleak. If we counted just the 8 million
drop-outs, To demonstrate just how bad the unemployment
circumstance really is, divided 8
million by 256,000 and you have added more than 31 points to the unemployment
totals. That’s’ right, I am saying that if we counted the 8 million “lost”
Americans no longer being counted in the weekly or monthly unemployment
reports, total unemployment would be
39.1 percent.
To make matters
worse, 8 million Americans are now “part-time”
employed. That number could more than double, in my blue collar opinion, within the coming year(s) because of the ObamaCare “loophole” that allows employers to avoid ObamaCare
requirements for part-time employees.
Construction and manufacturing numbers fell during the past month - perhaps the most discouraging indicator of all. The keys to rising employment rates is not found in Central Government planning, or federally sponsored research, or Big Labor's demands for higher pay and special treatment.
_____________________
Go to ZeroHedge for a qualified second opinion.
Like I said, Gallup has the unemployment rate at 8.3%
Like I said, Gallup has the unemployment rate at 8.3%
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