Jobs Report Shows 'Ongoing Disaster'
May 3, 2013 | Posted by: roboblogger | Full story: The Huffington Post
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.
#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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