Wasn’t that just wonderful news? The unemployment rate in February dropped to 7.7% and 236,000 jobs were added. Unfortunately, the numbers from the Obama administration don’t tell the whole story.
- According to the Department of Labor, the number of Americans designated as "not in the labor force" in February was 89,304,000, a record high, up from 89,008,000 in January. This means the number of Americans not in the labor force increased 296,000 between January and February. Kinda offsets the 236,000 new jobs, huh?
- The real unemployment rate – or U6 rate – for February was 14.3%, the total percentage of unemployed and UNDEREMPLOYED workers;
- The labor force participation rate was 63.5%, a reduction of .1 from January. It was 80.2% in 1997.
Although you would never know it by the rising stock market or the statements coming from the White House, there are a lot of people in America who either can’t find jobs or who have given up looking for work altogether.
Fewer people are working, more businesses have been forced to leave our country because of government interference, businesses are cutting employees or turning them into part-time workers because of the coming catastrophe that is Obamacare, there is inflation at the gas pump and at the supermarket, and there is a depressed feeling throughout our society that something just isn’t right.
Barack Obama and the Progressive Socialists have not helped America recover from the 2008 recession. Their philosophy has been to raise taxes, increase spending and the debt, and intrude into virtually every aspect of American life.
This is not a recovery; it is an illusion...
Charles M. Grist