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2 Million Workers Left US Work Force Last Year

From Breitbart:

US Lost 2 Million Workers in 2013

by Mike Flynn | 10 Jan 2014

Friday’s December jobs report was a major disappointment, showing the economy gained just 74k jobs last month. Economists had expected the economy to gain around 200k jobs. The unemployment rate, however, dropped to 6.7% as 347k frustrated job-seekers gave up and left the labor force. We are in an upside-down world where a drop in the unemployment rate is a bad sign for the economy.

Friday’s December jobs report got scant coverage over the weekend from our media guardians. Perhaps they don’t want to call too much attention to the jobless number, in order to keep from waking up the low information voters. Who might actually believe the unemployment rate has gone down to 6.7%.

The overall labor force shrunk dramatically last year. In December 2012, 155.4 million workers had a job or were actively looking for one. Last month, though, 154.9 million were in the labor force, a drop of over 500k Americans.

It is important to remember that the population grew last year. The US adult population grew by around 2.5 million people. If the labor force were the same percentage of the adult population as last year, 2 million more adults would have jobs or be actively looking for employment. Their disappearance is a drag on the economy.

Democrats are currently agitating for an extension in long-term unemployment benefits… Democrats ought to be more concerned about creating jobs, rather than mitigate the lack of them.

Oddly, Democrats are also expected to make a major push to raise the minimum wage, i.e. starting wage… Lifting the starting wage has a mild negative effect on the overall economy by reducing the number of jobs. These negative effects, however, are concentrated on those trying to enter the labor force…

And the author doesn’t even mention Obama-Care or amnesty. Both of which will drive up unemployment even more.

But, of course, Obama and the Democrats want more people to be unemployed, in order to get them dependent on the government. After all, it’s a lot harder to pursue a socialist agenda in a thriving economy. Just ask FDR.

This article was posted by Steve on Monday, January 13th, 2014. Comments are currently closed.

One Response to “2 Million Workers Left US Work Force Last Year”

  1. GetBackJack says:

    This is getting to be like just seven of us left as mules trying to pull twenty wagons across Death Valley.

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