Skip to comments.People Not In Labor Force Soar By 522,000, Labor Force Participation Rate Lowest Since 1981
Posted on 05/04/2012 6:15:52 AM PDT by khelus
it is just getting sad now. In April the number of people not in the labor force rose by a whopping 522,000 from 87,897,000 to 88,419,000. This is the highest on record. The flip side, and the reason why the unemployment dropped to 8.1% is that the labor force participation rate just dipped to a new 30 year low of 64.3%. ...
(Excerpt) Read more at zerohedge.com ...
Building the Dole Army for the future of Socialism
so what happens when the money runs out?
Question: How do they calculate people who are retiring vs. those who choose not to work?
Holy crap! 64% not working?
This is the Stat that needs to get out to the masses.
8.1% is an illusion.
No, 64% are working...of those of an age that could be in the work force.
35.7% of the ‘working age’ population - aren’t
Over a third of the population that can - aren’t working.
8.1%, by some fantasy, may be officially unemployed but 35.7% are not working.
We go from this silly game of free market Socialism to Socialism without the illusion, where no one could tell the difference between a fascist despot or a communist. And we’ve created the perfect cultural cesspool for our grand experiment to fester in.
That same month, more than 225,000 workers applied for Social Security disability benefits, and nearly 90,000 were enrolled, according to new data from the Social Security Administration.
Compared with June 2009, the month the economic recovery officially started, the labor force has shrunk by 365,000, a trend that has never occurred in any post World War 11 recovery. Those saw the labor force climb by the millions by this point in their recoveries, even as unemployment rates were driven down.
As IBD reported recently, more than 5 million workers and their families have enrolled in the disability program since Obama took office.