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With recovery in full swing and unemployment dropping to an Obama administration near record low of 8.2%, the US economy seems to be bouncing back stronger than ever. Unless, of course, you look at the numbers no one in mainstream media, the Bureau of Labor and Statistics, or the administration is talking about. As many of our readers already know, the official unemployment rates released monthly by the BLS (U-3, U-6) fail to account for one very key figure those individuals who are no longer in the labor force.
The number of those folks the ones that dont matter anymore because counting them would hinder the Presidents reelection bid is absolutely staggering for what is supposed to be the engine of the global economy and the worlds only super power:
Were it not for people dropping out of the labor force, the unemployment rate would be well over 11%.
Over the past several years people have dropped out of the labor force at an astounding, almost unbelievable rate, holding the unemployment rate artificially low. Some of this was due to major revisions last month on account of the 2010 census finally factored in. However, most of it is simply economic weakness.
In the last year, the civilian population rose by 3,604,000. Yet the labor force only rose by 1,315,000. Those not in the labor force rose by 2,289,000.
The Civilian Labor Force fell by 164,000.
Those Not in Labor Force increased by 310,000. If you are not in the labor force, you are not counted as unemployed.
Those Not in Labor Force is at a new record high of 87,897,000.
Source: Townhall Finance
With some 248 million people over the age of 15, nearly one in three Americans in this country are not working.
While the participation rate includes people like those in retirement and stay-at-home moms (because they definitely havent worked a day in their lives, as was recently noted by democrat strategist Hilary Rosen) who have no intention of joining the traditional labor force, the last four years have seen an unprecedented drop in the rate of labor force participation as well as unemployment overall. Charlie McGrath of Wide Awake News explains:
The government pretending everything is getting better because we spent trillions of dollars bailing out firms we now call too-big-to-fail. But the fact of the matter is, in order to get this kind of 8.3% fictitious fantasy number they had to lower the participation rate.
In the last four years weve lost 10 million people out of the participation rate. Just to give you an idea of how many people that is, it would take the city of Dallas, Salt Lake, San Diego, Spokane, Roanoke and Cincinnati the people living in those city limits. If you double that number that gives you the number of people that have left the participation rate that are no longer in the working pool.
Yet, that isnt stopping the mainstream media from reporting that things are getting better. Weve spent this nation into absolute financial servitude.
Understand that when you turn on the mainstream media you are being fed propaganda.