Tuesday, October 22, 2013

Obama's economy - It's worse than we think

For several years I've pointed out how the "official" unemployment rate under Obama has been artificially low, due to the increasing number of people who are not counted as unemployed. Anyone who is unemployed and who has given up looking for a job is not counted as "unemployed." Yes, it's crazy. The percentage of people working or looking for work, known as "Labor Force Participation Rate," has dropped like a rock under Obama.
The labor report for September, which has been released very very quietly, shows a terrifying statistic. In the last six months, more than two-thirds of the increase in working-age population is not in the workforce. Our working-age population has increased by 993,000 but the workforce has only increased by 321,000.

Source: Bureau of Labor Statistics

Even though larger numbers of people are not working, because of government's imaginary numbers process, the official unemployment rate has gone down.

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