CNS News reports.
The number of Americans whom the U.S. Department of Labor counted as “not in the civilian labor force” in August hit a record high of 88,921,000.
The Labor Department counts a person as not in the civilian labor force if they are at least 16 years old, are not in the military or an institution such as a prison, mental hospital or nursing home, and have not actively looked for a job in the last four weeks. The department counts a person as in “the civilian labor force” if they are at least 16, are not in the military or an institution such as a prison, mental hospital or nursing home, and either do have a job or have actively looked for one in the last four weeks.
In July, there were 155,013,000 in the U.S. civilian labor force. In August that dropped to 154,645,000—meaning that on net 368,000 people simply dropped out of the labor force last month and did not even look for a job.
There were also 119,000 fewer Americans employed in August than there were in July. In July, according to the Bureau of Labor Statistics, there were 142,220,000 Americans working. But, in August, there were only 142,101,000 Americans working.
Despite the fact that fewer Americans were employed in August than July, the unemployment rate ticked down from 8.3 in July to 8.1. That is because so many people dropped out of the labor force and stopped looking for work. The unemployment rate is the percentage of people in the labor force (meaning they had a job or were actively looking for one) who did not have a job.
The Bureau of Labor Statistic also reported that in August the labor force participation rate (the percentage of the people in the civilian non-institutionalized population who either had a job or were actively looking for one) dropped to a 30-year low of 63.5 percent, down from 63.7 percent in July. The last time the labor force participation rate was as low as 63.5 percent was in September 1981.
Let’s see how things are going for Obama’s biggest supporters – the young people who have been brainwashed by public schools to hate corporations , entrepreneurship and free market capitalism.
CNN Money reports:
The drop in the unemployment rate in August isn’t particularly good news for the economy — it’s driven mostly by nearly 400,000 people dropping out of the labor force, rather than more people finding jobs.
But those dropping out aren’t so much the discouraged 30-, 40- or 50-year olds. In fact, the Labor Department said there was a modest decline in the overall number of discouraged job seekers.
The drop is because so many young adults, aged 16 to 24, are no longer looking for work.
There were 453,000 fewer young adults with jobs in August than in July. But despite that plunge, only 27,000 more young people were looking for new jobs. Most apparently stopped looking and left the labor force. And those numbers take into account seasonal factors such as younger workers returning to school.
As a result, the percentage of young people who are counted in the labor force fell to its lowest level since 1955.
But there is one sector of the economy that is still doing fine – the parasitic public sector is doing fine.
CNS News reports:
There was good news for American workers in August—if government was their employer.
The unemployment rate for government wage and salaries workers dropped from 5.7 percent in July to 5.1 percent in August. At the same time, the number of government wage and salary workers counted as unemployed dropped by 123,000 people from 1,182,000 in July to 1,059,000 in August.
[...]Answering questions from reporters on June 8, President Obama said that the private sector was “doing fine” and that the “weaknesses” in the economy were in government.
“The private sector is doing fine,” said Obama. “Where we’re seeing weaknesses in our economy have to do with state and local government, oftentimes cuts initiated by, you know, governors or mayors who are not getting the kind of help that they have in the past from the federal government and who don’t have the same kind of flexibility as the federal government in dealing with fewer revenues coming in.”
Government workers live off of the money confiscated from businesses, who have to please customers by trading them valuable goods and services in order to make money.
This is not unexpected. Socialism is the destroyer of prosperity. In 2008, we elected an unqualified Marxist ideologue as President. He wrecked the economy because he doesn’t understand economics. He’s put us on the path to becoming Greece. In November, I hope that we’ll get it right for a change.