Wednesday, October 23, 2013

Another record: 90,609,000 unemployed

How historic...
CNSNews: The number of Americans who are 16 years or older and who have decided not to participate in the nation's labor force has climbed to a record 90,609,000 in September, according to data released today by the Bureau of Labor Statistics.

The BLS counts a person as participating in the labor force if they are 16 years or older and either have a job or have actively sought a job in the last four weeks. A person is not participating in the labor force if they are 16 or older and have not sought a job in the last four weeks.

In from July to August, according to BLS, Americans not participating in the labor force climbed from 89,957,000 to 90,473,000, pushing past 90,000,000 for the first time, with a one month increase of 516,000.

In September, it climbed again to 90,609,000, an increase of 136,000 during the month.

In January 2009, when President Barack Obama took office, there were 80,507,000 Americans not in the labor force. Thus, the number of Americans not in the labor force has increased by 10,102,000 during Obama's presidency.
I thought the recession was long over? It's difficult to view this as shocking news considering the president & party in power and their foreign desire to grow the welfare state by quashing private industry & wealth under the jackboot of Big Government. However, it is shameful that what we're experiencing under exorbitant government regulation & oversight, crony-capitalism and increased welfarism is happening to such an exceptional nation, when it could be reversed by releasing the free market.