Jobs Report Shows 'Ongoing Disaster'
The U.S. Labor Department announced Friday morning that the economy has been steadily adding jobs, pushing the unemployment rate down to 7.5 percent from 7.6 percent.
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#1 May 5, 2013
A critical piece of DATA in comprehending the job report numbers:
This link to the Bureau of Labor Statistics gives a telling graph of the LABOR PARICIPATION RATE in the past ten years.
When Obama became President in Jan 2009, the LABOR PARTICIPATION RATE was 65.7%.
In April of 2013, the LABOR PARTICIPATION RATE is down to 63.3%. A drop of 2.5%!!
What this means is that there are MILLIONS of unemployed Americans, between the ages of 16-64 years of age that were counted as unemployed when Obama took office, which now, are NO LONGER counted, as a percentage, like, they were under Bush.
This reduction in the LABOR FORCE PARTICIPATION masks the failure of the Obama policies with regard to the unemployment rate.
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