8+ million dropped out of U.S. labor force under Obama

Look around you.
4 of every 10 working-age adults you see on the streets don’t work.
That’s because more than 8 million Americans have dropped out of the U.S. labor force in just four years, during the POS’s first term as POTUS.
The result is that only 6.3 of every 10 adult working-age Americans now work, which means those who work have even a heavier tax burden.
Terence P. Jeffrey reports for CNSNews, Jan. 20, 2013, that the number of Americans age 16 or older who decided not to work or even to look for a job increased by 8,332,000 to a record 88,839,000 in Barack Obama’s first term, according to the Bureau of Labor Statistics.
To be in the labor force a person must either have a job or actively sought one in the previous four weeks.
When Obama was inaugurated in January 2009, there were 80,507,000 American civilians age 16 or older who did not have a job or seek one. In December 2012, there were 88,839,000—thus, the increase of 8,332,000.
The increase in drop-outs resulted in a decrease in the labor force participation rate from 65.7% in January 2009, the month Obama was first inaugurated, to 63.6% in December 2012, the latest month reported. Before Obama took office, the lowest the labor force participation rate (63.6%) was in 1981, the year President Ronald Reagan took over from Jimmy Carter — the worst president America’s ever had until Barack Obama.
In the comparable period of George W. Bush’s second term, the number of Americans choosing not to participate in the labor force went from 76,808,000 in January 2005 to 80,380,000 in December 2012—an increase of 3,572,000 in absolute numbers, but not as a percentage of the labor force. The rate of participation in the labor force was the same in January 2005 as it was in December 2008—65.8%.
More Hope and Change Despair and Ruin!
H/t California Political News & Views

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7 years ago

Which Demo-rats claim as the jobless rate going “down”…

7 years ago

I do wonder how long people sought a job. I had to give up my lease due to rent costs for my cosmetology business. That has forced me to seek part time work to supplement income lost. The problem is most of it is retail and restaurant where you are lucky to get 6-12 hours a week. Even I can not survive off this, and that means I would need a third job. My parents are having to help because we don’t want me on government assistance either so even those trying to not mooch or aelf sustain are faced… Read more »

7 years ago