...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...
...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...
Please take a closer look at the chart. Notice that around May of 2010, when Obamacare was jammed through Congress without a single Republican vote, the labor-force participation rate started heading south. And it hasn't let up since.
In fact, less than 150,000 people in the U.S. -- total -- found work last month. That's less than 3,000 people per state -- or about the number of people who attend a high school football game.
...just 148,000 people found work last month.
"I think it is an absolute disaster," says Brian Sozzi, chief equity strategist at Belus Capital Advisors in the attached video, where he calls today's release a "horrifically depressing report."
As Sozzi sees it, "there's stuff going on out there in the economy that nobody is talking about."
Specifically, he cites the need to listen to what companies such as Stanley Black & Decker (SWK) and Hasbro (HAS) are telling us this earnings season, and to take heed of the restructuring plans, earnings misses, and soft revenue results.
The Detroitocrat Party is literally turning all of America into Detroit.
They have no blueprint, no master plan, no overarching document describing their endgame they can share with us. They will continue to tinker, to social-engineer, to "fix" society using increasingly totalitarian methods to address the "non-compliant".
And like D.C., like Chicago, and -- yes -- like Detroit and all of the other bankrupt cities in California, jobs, opportunity and hope will disappear from the landscape like a wheat field devastated by a swarm of locusts.
Hat tip: BadBlue News.
5 comments:
How many have had enough of the detroitocrats evil statism are going Galt?
Up their arses!
They want a wasteland?
Well maybe it is time to go system D, and let the psychopaths and the useful enabler freeshit mob have what they wish for.
Why be robbed of your sweat equity and prosperity supporting millions of ungrateful freeloaders and their hate merchant leaders?
If they run out of others money how are they going to retain power?
Today proved to be the first time I heard Elvis singing of America: "he's your Uncle, not your Dad".
That just about sums it up.
I live between Cleveland and Erie,PA. Used to be a job mecca due to the industrial base. Just read a local news article about the poverty rate in my county being at 18%. I know it's higher as friends aren't working and not collecting any government assistance. Lost my job after 34 years. Not good. By the way, this county is Democrat controlled and has been for 2 generations, at least.
A large part of the trend is due to the aging population as baby-boomers continue to enter retirement. Regardless of the health of the economy, this trend is expected to continue. Another factor is that more young people are staying in school longer, so as to be prepared for an increasingly competitive work environment.
I think about this chart every time I hear "good" news about unemployment. Ten million people out of the workforce makes us such a poorer country.
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