OBAMA LEGACY TO TRUMP: 8-YEAR OF GREAT RECESSION, 95 MILLION AMERICANS NOT IN LABOR FORCE, 20 TRILLION DEBT…OBAMA – AMERICA’S MOST DANGEROUS EXPERIMENT!
- In November, there were 95,055,000 Americans not in the labor force
- Obama’s is the only modern presidency that failed to show a single year of growth above 3 percent
- The recent declines in the unemployment rate are due less to the uptick in employed persons than to an increasing number of persons leaving the labor force.
The Washington Free Beacon reports:
New Record: Americans Not in Labor Force Breaks 95 Million for First Time
The number of Americans not participating in the labor force hit a new record in November, exceeding 95 million for the first time, according to the latest numbers released by the Bureau of Labor Statistics.
In November, there were 95,055,000 Americans not in the labor force, an increase of 446,000 people from the previous month.
The bureau counts those not in the labor force as people who do not have a job and did not actively seek one in the past four weeks.
The labor force participation rate, which is the percentage of the population that has a job or actively looked for one in the past month, declined from 62.8 percent in October to 62.7 percent in November.
The unemployment rate for all Americans declined from 4.9 percent in October to 4.6 percent in November. This measure does not account for those individuals who have dropped out of the labor force and simply measures the percent of those who did not have a job but actively sought one over the month
From NYPost.com :
The truth is that the Obama years have been among America’s worst for the economy. His eight years will go down in history as the Great Recession, even though for much, even most, of the span, we weren’t technically in a recession.
It just felt that way. And no wonder. Obama’s is the only modern presidency that failed to show a single year of growth above 3 percent, a point Trump stressed during the campaign (and that was conceded even by the website Politifact).
Plus, the Obama economy failed to prosper even though the Federal Reserve had its pedal to the metal. Its quantitative easing, $2 trillion balance-sheet expansion and zero-interest-rate policy all produced zilch.
Except for pumping up Wall Street and producing what Trump calls a “false economy.” The recent declines in the unemployment rate are due less to the uptick in employed persons than to an increasing number of persons leaving the labor force.
In a “true economy,” what people would boast about would be the number of employed persons rising faster than the size of an expanding workforce. In reality, the job participation rate is the lowest in decades, as millions are too discouraged to seek a job.