Labor force lowest since 1978 and Jimmy Carter

jimmy carter barack obamaSAN FRANCISCO (press release)—The White House may have their own spin on labor numbers, but they don’t match up with the Bureau of Labor Statistics reported Friday. In fact, in February, 92,898,000 Americans did not participate in the nation’s labor force. That’s up an astounding 80,529,000 since President Barack Obama took office. What it really means is that more than 12 million people have left the workforce during his tenure in the White House.

According to the BLS, “The civilian labor force participation rate, at 62.8 percent, changed little in February and has remained within the narrow range of 62.7 to 62.9 percent since April 2014.” There was no word on any of the Sunday news shows about these incredible numbers.

The BLS added that the participation rate has been 62.9 percent or lower in 13 of the 17 months since October 2013. The last time numbers have been seen this bad was in March 1978. At that time, the number was 62.8 percent under former President Jimmy Carter.

An incredible 6.6 million employed persons who actually want a full-time job were working part time because their hours had been cut. That or they were unable to find a full-time job.

Is this the “malaise” that Jimmy Carter spoke of in his famous 1978 speech? To add insult to injury, another 2.2 million people were considered “marginally attached to the labor force.” That can be defined in many ways including running a lemonade stand as a business supposedly.

There were a total of 732,000 defined by the BLS as “discouraged workers” in February. They were not currently looking for a job because they think no jobs are available to them.

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