by Allen West
“Yikes. It’s actually even worse. Eight million more Americans no longer even looking for work since Obama’s first term. Share this link with someone who thinks we’re headed in the right direction. The 7.8% unemployment rate is smoke and mirrors.”
Read This by By Terence P. Jeffrey
First Term: Americans ‘Not in Labor Force’ Increased 8,332,000
The number of Americans age 16 or older who decided not to work or even to seek a job increased by 8,332,000 to a record 88,839,000 in President Barack Obama’s first term, according to the Bureau of Labor Statistics.
At the same time, the number of retired workers collecting Social Security increased by only 4,234,480.
The increase in Americans opting out of the labor force during Obama’s first term resulted in a decrease in the labor force participation rate from 65.7 percent in January 2009, the month Obama was first inaugurated, to 63.6 percent in December 2012, the latest month reported. Before Obama took office, the labor force participation rate had not been as low as 63.6 percent since 1981, the year President Ronald Reagan took over from President Jimmy Carter.
To be in the labor force a person must either have a job or actively sought one in the previous four weeks. (continue reading here)