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January 22, 2013

The grim labor force participation rate graph that the Obama administration's ship of state is going to founder on

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Over at RedState, Moe Lane calls this the rock that the Obama administration's ship of state is going to founder on:

labor-participation-rate.jpg

The graph shows the labor force participation rate for the last four years. The short version is that the LFP rate shows the percentage of the population that could be working that is actually working. And as you can see, that number was remarkably stable under Bush's term. The rate more or less stayed around 66% from calendar year 2002 to 2008... and it dropped significantly in calendar year 2009. Now, some people would argue that this is not Obama's fault ... just like they would argue that it was not Obama's fault that the rate dropped equally significantly in calendar year 2010, and dropped equally significantly in calendar year 2011, and dropped equally significantly in calendar year 2012 (that year's average was 63.7%). The LFP rate for December 2012 itself was 63.6%, which as CNS helpfully notes is significant, in its way: "the labor force participation rate had not been as low as 63.6 percent since 1981, the year President Ronald Reagan took over from President Jimmy Carter."
More here.

In other words, Obama did indeed build that. And he's got four more years for his policies to continue the trend.

Update: See comments.

Related: Obama's Warmed-Over Collectivism

Posted by Hyscience at January 22, 2013 7:05 AM



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