JUST IN: Leaked Report CONFIRMS The Horrible State Of Obama’s Economy…

JUST IN: Leaked Report CONFIRMS The Horrible State Of Obama’s Economy…

Obama’s economy set a new precedent in May with 94,708,000 Americans no longer in the labor force. That’s 664,000 more than in April, which is catastrophic all in itself. That number is only rivaled by the previous two months: 62.8% in April and 63% in May. The labor force participation rate dropped to 62.6% – which is almost at a 38-year low. That means that 37.4% are NOT working in America. The unemployment rate that Obama has massaged and molded is an absolute lie… an utter propagandic fabrication. Obama says that we are better off than when he came into office. Uh, no… he has conclusively destroyed the economy and decimated the job market. This is proof of that.

Jobs

From CNS News:

A record 94,708,000 Americans were not in the labor force in May — 664,000 more than in April — and the labor force participation rate dropped two-tenths of a point to 62.6 percent, near its 38-year low, the Labor Department’s Bureau of Labor Statistics reported on Friday.

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When President Obama took office in January 2009, 80,529,000 Americans were not participating in the labor force; since then, 14,179,000 Americans have left the workforce — some of them retiring and some just quitting because they can’t find work.

“By almost every economic measure, America is better off than when I came here at the beginning of my presidency,” President Obama told the people of Elkhart, Indiana three days ago. “We cut unemployment in half, years before a lot of economists thought we would.”

The unemployment rate in May dropped to 4.7 percent, BLS reported, less than half of its Obama-era high of 10 percent in October 2009.

But the labor force participation rate has deteriorated over Obama’s two terms.

We haven’t seen these kinds of numbers in the labor force since 1977. Let me see… who was president then? Oh yeah… Jimmy Carter. It’s sad that I would actually prefer Carter compared to Obama. In May, according to the Labor Department’s Bureau of Labor Statistics, the nation’s civilian noninstitutional population, consisting of all people 16 or older who were not in the military or an institution, reached 253,174,000. Of those, 158,466,000 participated in the labor force by either holding a job or actively seeking one. The 158,466,000 who participated in the labor force equaled 62.6 percent of the 253,174,000 civilian noninstitutional population. Some of this is due to baby boomer retirement… but most of it is due to people who have run out of unemployment benefits or have simply given up looking for work. These people have been out of work for ‘years’. BLS said the economy added a disappointing 38,000 jobs in May, well below analysts’ estimates of 158,000. Over the past three months, job gains have averaged 116,000 per month. You’ll never guess the primary sector where jobs were added… healthcare. I’m telling you, these Marxist policies on both sides of the political aisle are marching us right off an economic cliff.

Terresa Monroe-Hamilton

Terresa Monroe-Hamilton is an editor and writer for Right Wing News. She owns and blogs at NoisyRoom.net. She is a Constitutional Conservative and NoisyRoom focuses on political and national issues of interest to the American public. Terresa is the editor at Trevor Loudon's site, New Zeal - trevorloudon.com. She also does research at KeyWiki.org. You can email Terresa here. NoisyRoom can be found on Facebook and on Twitter.

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