November 27, 2013
Record high 91,5 million Americans did not participate in the labor force this October.Topics: Political News and commentaries
According to BLS data, 932,000 people dropped out of the labor force last month, from at total of 90,609,000 in September to 91,541,000 in October. The labor force participation rate -- or all employed and unemployed people -- in accordance with the decline, also hit a record low at 62.8 percent. When Barack Obama took office in January 2009, the labor force participation rate was 65.7 percent. The labor force participation rate is now at its lowest since 1978.
As Tyler Durden notes at Zero Hedge, at this pace the people out of the labor force will surpass the working Americans in about 4 years.
Needless to say, eventually digging out of that which Obamanomics has wrought upon our nation is going to take a very long time, if ever. But America brought this upon itself ... it was naive enough to vote the empty suit into office - twice!
Posted by Hyscience at November 27, 2013 12:02 PM
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