The FedGov released its unemployment propaganda for March 2013 this week showing a 0.1% drop in the unemployment rate. Our friends at ZeroHedge calculated that the Real Unemployment Rate is now 11.6% instead of the FedGov’s drop from 7.7% to 7.6%. The actual Labor Force declined by 496,000 and those not in the Labor Force increased by 660,000.
FedGov and ZeroHedge 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?
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 nearly 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!