Monday, October 15, 2012

One Worker Added, Ten Workers Subtracted

In the four years since The Obama took office, 10 people were added to the ranks of those not in the labor force for every 1 person added.  From January 2009 to September 2012, The Weekly Standard's Daniel Halper writes:
"only 827,000 people have been added to the labor force, while during that same time period, 8,208,000 have been added to those not in the labor force."
Since January 2009, the labor force has grown by 0.54 percent, or 827,000 people (from 154,236,000 to 155,063,000). Those not in the labor force grew by 10.2 percent during the same period (8,208,000 people), from 80,502,000 to 88,710,000. In other words, for every one person added to the labor force of the United States since January 2009, the size of the U.S. population not in the labor force grew by 10 people.
Senate Budget Committee Republicans, using data from Bureau of Labor Statistics, determined the numbers
"... reveal several troubling trends: That the jobs market is not keeping pace with U.S. population growth; that not enough younger Americans are joining the labor force to account for retirement among an ageing population; and that a large number of workers have become so discouraged that they simply stopped looking for work and left the labor force entirely. These factors pose serious fiscal challenges for the United States. A historically low labor force participation rate—together with an ageing population and a record number of people drawing federal welfare benefits—puts severe strain on the federal budget in both the near and long term."
Clearly, employment is not going in the right direction to continue America's prosperity. It is headed in the right direction if the purpose is to render America to Third World status through redistributing jobs and wealth.

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