People Not In Labor Force Soar By 663,000 To 90 Million
Things just keep getting worse for the American worker, and by implication US economy, where as we have shown many times before, it pays just as well to sit back and collect disability and various welfare and entitlement checks, than to work .The best manifestation of this: the number of people not in the labor force which in March soared by a massive 663,000 to a record 90 million Americans who are no longer even looking for work. This was the biggest monthly increase in people dropping out of the labor force since January 2012, when the BLS did its census recast of the labor numbers. And even worse, the labor force participation rate plunged from an already abysmal 63.5% to 63.3% - the lowest since 1979! But at least it helped with the now painfully grotesque propaganda that the US unemployment rate is "improving.
This Chris/Christina Romer (who mysteriously looks an awful lot like Chris Farley,... don't think the similarity in names is a coincidence either...) who left long before the end of bonobo's first term (and I suspect now lives in a van down by the river) idea that welfare stokes the economic engine, continually proves to be the nonsensical failure it was destined to be. And yet bonobo continues down the same failed path.
What is it with your tards? You lost the war on poverty about 10 minutes after LB Tard declared it. And here we are approaching $17 trillion in debt and growing fast. When do you admit your policies are a failure?
Just being reasonable with the unemployment number, not the Unemployment Compensation rate, the Obama administration will NEVER grow the economy to provide jobs for those that want them. Last month, 88,000 new non farm jobs created. 225,000 new youth enter the labor mkt each month. Just too keep even this administration was about 140,000 jobs short.
I thought Jimmy was bad . . . . .