Posted on 11/08/2013 6:13:43 AM PST by Zakeet
Complete Headline: Whopping 932,000 Americans Drop Out Of Labor Force In October; Participation Rate Drops To Fresh 35 Year Low
The only two charts that matter from today's distorted non-farm payrolls report.
First, the labor force participation rate, which plunged from 63.2% to 62.8% - the lowest since 1978!
But more importantly, the number of people not in the labor force exploded by nearly 1 million, or 932,000 to be exact, in just the month of October, to a record 91.5 million Americans! This was the third highest monthly increase in people falling out of the labor force in US history.
At this pace the people out of the labor force will surpass the working Americans in about 4 years.
Obamanomics works!
Certainly YOUR numbers are wrong, right ?
< /s >
Why work? There is plenty more Obama Cash in his stash. Bernacke just refilled it again. Gimme Gimme Gimme!
This number will explode as those losing their health insurance will figure out they can get an Obamacare subsidy by being unemployed.
If this doesn’t scare the crap out of people, they are brain dead. Like my Lib BIL and his NEA commie wife.
5 years of the systematic destruction of the US economy by this man and the libs still worship him. Who says liberals aren’t religious?
By the time this Marxist freak leaves office, only five people will be working, but the unemployment rate will be zero because everyone else will have “left the labor force.”
Get read for spring during the winter, people and some food for your family.
FYI: “Figures don’t lie, but liars do figure.”
Good Lord, and after Ben retires they’re bringing in Yellin who is even more in favor of fake money.
Wait until people start weighing the decision between Welfare and Medicaid or a $30K a year job with a $9000 health care deductible.
Don’t know why or how, but this new will probably send the stock market up. Since obama everything is upside down and down side up and inside out.
I consider the U6 unemployment figure to be a more accurate measure of unemployment than the U1-U5.
The Labor Participation Rate is a much better window into the employment landscape than the Unemployment rate, IMO. I am amazed that so many still hang their hats on the Unemployment rate as a metric of any usefulness.
Don’t know why or how, but this new will probably send the stock market up. Since obama everything is upside down and down side up and inside out.
It's due to the actions of the Plunge Protection Team (PPT). They're manipulating the markets in order to stimulate the economy by preserving the wealth effect.
And they're printing a boatload of money (nobody knows exactly how much) in order to do it.
It allows a lot of people to keep their socialist delusions about Obama & the economy.
People see what is necessary to maintain their belief(s) of what should be rather than what is.
I have no hope that we are going to come out of this because after 5 years of deliberate destruction of our economy, 1/2 the people still approve of what is being done. Which proves we have lost.
I believe the real unemployment figures are far far higher than reported.
I wonder sometimes if there hasn’t been a healthy increase in under the table and barter among those of us who are truly disgusted at a government that hasn’t represented us in decades.
Not saying theres a correlation though.
Don’t let that wheelbarrow out of your sight. It was worth more than all the paper money stacked on it at the time.
YES WE CAN!
FUBO.
Mightily.
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