The FedGov released its unemployment propaganda for January 2014 showing another drop in the unemployment rate from 6.7% to 6.6% with below expectations 113,000 jobs created.
The “Drum”beat leftists at Mother Jones believe austerity was madness:
This is the price of austerity. If public sector employment had been growing normally during this period, we’d have about a million more jobs than we do now and the unemployment rate would probably be below 6 percent. We are our own worst enemies.
At HotAir, soberly…
Still, we need to add 150,000 jobs a month to keep pace with population growth. We’re closer to it than in December, which was upgraded to 75,000 jobs added, but still far off the pace for even stagnation.
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…
A bit of a bump this month, but note that the Labor Force in January of 2014 is SMALLER than the Labor Force in January 2013.
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!