◼ People Not In Labor Force Soar By 663,000 To 90 Million, Labor Force Participation Rate At 1979 Levels - Tyler Durden/Zerohedge
Things just keep getting worse for the American worker, and by implication US economy, where as we have shown many times before, it pays just as well to sit back and collect disability and various welfare and entitlement checks, than to work .The best manifestation of this: the number of people not in the labor force which in March soared by a massive 663,000 to a record 90 million Americans who are no longer even looking for work. This was the biggest monthly increase in people dropping out of the labor force since January 2012, when the BLS did its census recast of the labor numbers. And even worse, the labor force participation rate plunged from an already abysmal 63.5% to 63.3% - the lowest since 1979! But at least it helped with the now painfully grotesque propaganda that the US unemployment rate is "improving."
◼ Bureau Of Labor Statistics: Details at the link. - GOP Research
◼ Since Obama Took Office, The Labor Force Participation Rate Has Declined From 65.7 Percent To 63.3 Percent. - (Bureau Of Labor Statistics, Accessed 4/5/13)
◼ The Last Time The Labor Force Participation Rate Was This Low Was In May Of 1979. - (Bureau Of Labor Statistics, Accessed 4/5/13)
In March, 496,000 Americans Dropped Out Of The Labor Force. (Bureau Of Labor Statistics, Accessed 4/5/13)
21.7 Million Americans Are Unemployed, Underemployed, Or Simply Can’t Find Work. (Bureau Of Labor Statistics, Accessed 4/5/13)
The Number Of Unemployed Workers Is 11,742,000. (Bureau Of Labor Statistics, Accessed 4/5/13)
The Number Of Workers Working Part-Time For Economic Reasons Is 7,638,000. (Bureau Of Labor Statistics, Accessed 4/5/13)
There Are Currently 803,000 Unemployed Workers That Have Given Up Looking For Work. (Bureau Of Labor Statistics, Accessed 4/5/13)
The Real Unemployment Rate, Including Those That Are Working Part-Time Due To Economic Reasons, Is 13.8 Percent. (Bureau Of Labor Statistics, Accessed 4/5/13)
Since Obama Took Office, The Average Duration Of Unemployment Has Nearly Doubled From 19.8 Weeks To 37.1 Weeks. (Bureau Of Labor Statistics, Accessed 4/5/13)
In March, The Average Duration Of Unemployment Increased From 36.9 Weeks To 37.1 Weeks. (Bureau Of Labor Statistics, Accessed 4/5/13)
Since Obama Took Office, The Unemployment Rate For Women Has Increased From 6.9 Percent To 7.6 Percent. (Bureau Of Labor Statistics, Accessed 4/5/13)
Since Obama Took Office, The African American Unemployment Rate Has Increased From 12.7 Percent To 13.3 Percent. (Bureau Of Labor Statistics, Accessed 4/5/13)
Since Obama Took Office, The Nation Has Lost 752,000 Construction Jobs. (Bureau Of Labor Statistics, Accessed 4/5/13)
Since Obama Took Office, The Nation Has Lost 575,000 Manufacturing Jobs. (Bureau Of Labor Statistics, Accessed 4/5/13)
