The FedGov released its unemployment propaganda for September 2013 showing another 0.1% drop in the unemployment rate. Our friends at CNN spun it as positively as possible saying, “But the good news is the unemployment rate fell to 7.2% as 73,000 people joined the labor force and 133,000 people said they got jobs. That’s considered encouraging, after months in which thousands of Americans were dropping out of the workforce.”
At ZeroHedge, they didn’t see it so rosily, “September jobs are a disappointment at 148K vs expectations of 180K and private jobs only 126K well below the 180K expected, but August was revised higher this time, from 169K to 193K even as July dipped once again from 104K to 89K. Net for the three months, largely a wash.”
FedGov calculations still don’t really show the true picture of employment in America. They don’t answer this question:
Ignoring all demographics, who is in the wagon versus who is pulling the wagon?
How many people are working as a percent of all the people in the United States? Here’s the trend…
At the end of Clinton’s administration, over 50% of the population in America were in the labor force! That number stayed mostly the same and then increased through through the early parts of 2007. That percentage has decreased since the beginning of 2007 and is now down by fully 2%. You’re welcome to comment below as to what happened in early 2007 to turn the trend around.
In today’s numbers, that’s a reduction of almost 6,000,000 jobs.
Below is the percentage of change from month-to-month
Labor Force Data from bls.gov:
Population Estimate from census.gov
Things won’t get better in this country until millions more people are pulling the wagon!