The Number Of Working Age Americans Without A Job Has Risen By Almost 10 Million Under Obama

Tyler Durden's picture




 

Submitted by Michael Snyder of The Economic Collapse blog,

That headline is not a misprint.  The number of working age Americans that do not have a job has increased by nearly 10 million since Barack Obama first entered the White House. 

In January 2009, the number of "officially unemployed" workers plus the number of Americans "not in the labor force" was sitting at a grand total of 92.6 million.  Today, that number has risen to 102.2 million.  That means that the number of working age Americans that are not working has grown by close to 10 million since Barack Obama first took office.  So why does the "official unemployment rate" keep going down?  Well, it is because the federal government has been pretending that millions upon millions of unemployed workers have "left the labor force" over the past few years and do not want to work anymore.  The government says that another 347,000 workers "left the labor force" in December.  That is nearly five times larger than the 74,000 jobs that were "created" by the U.S. economy last month.  And it is important to note that more than half of those jobs were temporary jobs, and it takes well over 100,000 new jobs just to keep up with population growth each month.  So the unemployment rate should not have gone down.  If anything, it should have gone up.

In fact, if the federal government was using an honest labor force participation rate, the official unemployment rate would be far higher than it is right now.  Instead of 6.7 percent, it would be 11.5 percent, and it has stayed at about that level since the end of the last recession.

But "6.7 percent" makes Obama look so much better than "11.5 percent", don't you think?

The labor force participation rate is now at a 35 year low, and the only way that the federal government has been able to get the "unemployment rate" to go down is by removing hundreds of thousands of Americans out of the labor force every month.

Why don't they just get it over with and announce that they have decided that all workers immediately leave the labor force the moment that they lose their jobs?  That way we could have an unemployment rate of "0.0 percent" and Obama could be hailed as a great economic savior.

Of course the truth is that the employment crisis in the United States is about as bad now as it was during the depths of the last recession.

If you want a much more accurate reading of the employment picture in America, just look at the employment-population ratio.  The percentage of working age Americans that actually have a job continues to stagnate at an extremely low level.  In fact, the percentage of working age Americans that are employed has stayed between 58.2 percent and 58.8 percent for 52 months in a row...

Employment-Population Ratio 2014

Does that look like an "employment recovery" to you?

Because no matter how hard I squint my eyes, I just can't see it.

The percentage of Americans that actually have jobs should have bounced back at least a little bit by now.

But it has not happened.

And guess what?  Most people don't know this, but the U.S. economy actually created fewer jobs in 2013 than it did in 2012.  So the momentum of job creation is actually going the wrong way.

No matter how rosy the mainstream media makes things out to be, the reality on the ground tells an entirely different story.

For example, just check out the desperation that was displayed on the streets of New York City last week...

The line wrapped nearly around an entire city block on Friday as approximately 1,500 people waited in Queens for a chance to apply for a coveted union job as painters or blasters on bridges and steel structures.

 

The first few people on line had been there since 1 p.m. on Tuesday when the temperature in New York City was in the single digits.

The job that those desperate workers wanted to apply for only pays $17.20 an hour.

Of course that is far from an isolated incident.  Last week, I wrote about how 1,600 workers recently applied for just 36 jobs at an ice cream plant in Maryland.

We would not be witnessing scenes like these if the unemployment rate in America was really just 6.7 percent.

An article by Phoenix Capital Research does a good job of summarizing how useless the official government numbers have become...

Since 2009, we’ve been told that things have improved. The fact of the matter is that the improvement has been largely due to accounting tricks rather than any real change in reality.

 

Sure you can make unemployment look better by not counting people, you can claim the economy is growing by ignoring inflation, you can argue that inflation is low because you don’t count food or energy, but the reality is that all of these arguments are grade “A” BS.

 

We are now five years into the “recovery.” The single and I mean SINGLE accomplishment from spending over $3 trillion has been the stock market going higher. This is a complete and total failure. Based on the business cycle alone, the economy should be roaring.

 

What does it say that we’ve spent this much money and accomplished so little?

 

The word is FAILURE.

 

The media is lying about the economy. They have been for years. Even the BLS now admits that its methodologies are either inefficient (read: DON’T work) or outright wrong.

The cold, hard reality of the matter is that there has not been an economic recovery in this nation.

Anyone that tries to tell you that is lying to you.

And now the next major wave of the economic collapse is rapidly approaching.

The U.S. national debt is on pace to more than double during the eight years of the Obama administration and the Federal Reserve has been recklessly printing up trillions of dollars.  The long-term damage that they have done to our economy is incalculable.  But despite all of those extraordinary "stimulus" measures, the percentage of Americans that are actually working has not budged.

If we were going to have a recovery, it would have happened by this point.  In fact, this is all the "recovery" that we are going to experience.

From here on out, this is about as good as things are going to get.  As bad as you may think things are now, the truth is that this is rip-roaring prosperity compared to what is coming.

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Mon, 01/13/2014 - 18:50 | 4328664 fonestar
fonestar's picture

Maybe if more Americans would virtualize their careers and stopped waiting for the second coming of Detroit making V8 cars things would improve?

Mon, 01/13/2014 - 18:53 | 4328672 Deathrips
Deathrips's picture

Working on a plan, but cant figure it out..cause teachers taught them how to repeat information..not think or plan.

 

/s/ or not to /s/, that is the question.

 

RIPS

Mon, 01/13/2014 - 18:59 | 4328690 Boris Alatovkrap
Boris Alatovkrap's picture

In Russia, citizen is at least to pretend work (government is pretend pay), but in USSA, citizen is do nothing and is expect auto deposit to bank account. This is final step of absolute serfdom, accomplishment even is not Lenin, Stalin, Kruschev, Breshnev, Andropov, Gorbechev, Yeltsin, Putin et al is can conceive.

Mon, 01/13/2014 - 19:04 | 4328717 Haywood Jablowme
Haywood Jablowme's picture

Is it wrong that Pelosi gives me a boner?  I would love seeing her and Billary carpet munching one another's man-ginas.

Mon, 01/13/2014 - 19:08 | 4328728 NemoDeNovo
NemoDeNovo's picture

I might NEVER be able to get that image out of my mind..........

Tue, 01/14/2014 - 03:50 | 4330022 Notarocketscientist
Notarocketscientist's picture

Think of that next time you are getting down with a hotty and you want to extend your performance time

Mon, 01/13/2014 - 19:18 | 4328752 markovchainey
markovchainey's picture

Oh Goddess!  Please!  Remove this image from my brain!

Mon, 01/13/2014 - 19:41 | 4328847 stant
stant's picture

well they can both hang thier strapon out the window and claim they fucked the world. thats closer to my mental image

Mon, 01/13/2014 - 20:11 | 4328963 FredFlintstone
FredFlintstone's picture

No, she's pretty hot. Fit and trim. Probably has a Brazilian wax. Probably doesn't like to swallow though.

Mon, 01/13/2014 - 20:23 | 4328999 Winston Churchill
Winston Churchill's picture

You are one sick MF.

Tue, 01/14/2014 - 00:21 | 4329729 Rockatanski
Rockatanski's picture

What if they just scissored? 

Mon, 01/13/2014 - 19:04 | 4328718 fonestar
fonestar's picture

Boris is realize too that physical labourer bear grudge against modern world for not be as dumb self?

Mon, 01/13/2014 - 19:23 | 4328769 Boris Alatovkrap
Boris Alatovkrap's picture

Bear grudge is when Putin is wrestle Ursus arctos beringianus and defeat in humiliation. 

Mon, 01/13/2014 - 19:41 | 4328848 insanelysane
insanelysane's picture

Boris is 100% correct.  Obama and crew found the weak link with communism.  In communism, there is a working class that is required to work in exchange for something from the government.  The workers get unhappy with the exchange of work for the pittance of goods and overthrow the government.  In USSA, there is no working class.  There is a free shit army on an infinite number of weeks unemployment.  They really can't complain to the government because they are getting a pittance but aren't doing any labor what so ever. 

Mon, 01/13/2014 - 19:44 | 4328866 eclectic syncretist
eclectic syncretist's picture

fonestar is phony.  Doesn't see Obama wants everyone to quit working and go with his incentivation program to have multiple kids and stay at home watching government sponsored TV.

Mon, 01/13/2014 - 20:09 | 4328961 FredFlintstone
FredFlintstone's picture

"government sponsored TV"... Jerry Springer is government sponsored? I can believe that.

Mon, 01/13/2014 - 19:06 | 4328720 James_Cole
James_Cole's picture

The cold, hard reality of the matter is that there has not been an economic recovery in this nation.

Of course there has been, look at the Dow. The point is it's been an economic recovery that's benefitted very few. Seems like America has fully embraced the tale of two cities days.

What is it Rubio said about driving through rich neighbourhoods as a kid? "We'll be joining you soon" lol that lie is getting harder to sell that's the main difference.

It's a big club and if there was any doubt before, now the folks know for sure - they ain't in it!

Mon, 01/13/2014 - 19:10 | 4328733 NemoDeNovo
NemoDeNovo's picture

It's a big club and if there was any doubt before, now the folks know for sure - they ain't in it!

 

RIP George Carlin

Mon, 01/13/2014 - 19:45 | 4328867 insanelysane
insanelysane's picture

I don’t want to belong to any club that would accept me as one of its members.

-Groucho Marx

Mon, 01/13/2014 - 20:46 | 4329056 Ignorance is bliss
Ignorance is bliss's picture

Love that quote.

Mon, 01/13/2014 - 20:14 | 4328975 TheMerryPrankster
TheMerryPrankster's picture

Didn't Obama promise a stockbroker in every pot?

I'm saving a fortune in taxes since  I took a 33% salary cut and doubled my hours worked.

Recovery/Depression they are now two words that mean the same thing. 45 million people on food stamps are hungry for an economic recovery that will never happen.

Bernanke,Greenspan, Yellen, these will be the curse words of our children. Barrack will be as popular as Adolph as a childs name. Obama will become a code word for a bowel movement.

I just took a great big Obama, don't go in the bathroom for awhile.

If you like your depression, you can keep your depression.

Mon, 01/13/2014 - 20:28 | 4329014 Winston Churchill
Winston Churchill's picture

Think it was a pawnbroker in everybodys hovel.

Tue, 01/14/2014 - 00:50 | 4329772 Falling Down
Falling Down's picture

I've used that, "gotta leave the Obamas off at the pool".

Tue, 01/14/2014 - 13:01 | 4330862 teolawki
teolawki's picture

I would prefer a banker in every pot. Boiling oil should do quite nicely.

Mon, 01/13/2014 - 19:10 | 4328732 lakecity55
lakecity55's picture

"Under my Administration, the Bullshit will pile so high you'll need a Soyuz to stay above it, 'cause I also killed the US space program."

Mon, 01/13/2014 - 22:38 | 4329356 TheFourthStooge-ing
TheFourthStooge-ing's picture

Boris is said comment here leaves me of questions:

In Russia, citizen is at least to pretend work (government is pretend pay), but in USSA, citizen is do nothing and is expect auto deposit to bank account.

Expected of me, USSA US citizenism, do show up for work, some task tendings make, contingency on this then payment biweekly is auto deposit. Is question on this, what is my wrongdoing? Similar with Boris is have time to better spent on mine copper, projects of garage science and tinker is better my time spend. How is continue auto deposit and do change USSA US citizenism expectation are contingent on me is do nothing?

This is final step of absolute serfdom, accomplishment even is not Lenin, Stalin, Kruschev, Breshnev, Andropov, Gorbechev, Yeltsin, Putin et al is can conceive.

Is question on this, was Comrade Chernenko is have conceive this accomplishment in 13 months term between Andropov and Gorbachev, or do you are saying of something else?

Mon, 01/13/2014 - 19:57 | 4328884 Deathrips
Deathrips's picture

TYLER/s and all,

 

Check this out.

 

Discover card, that I use for small inventory in my business, just sent me a home loan approval!!! A full approval. I have a 3 figure balance and pay off every month. Liar Loans are back...rinse repeat. My dog needs a loan. Maybe yours too? The american dream Home Ownership aka clearing crap of insolvent balance sheets. Muppet slaughter comming 2014. I can picture all those kids with high student loan balances, up to their nose in credit card debt getting these offers and thinking someone is helping them out. Picture MR and Mrs barely hanging on living off 401k and CC thinking this is a godsent. This is some fucked up shit.

 

When they offer a non recourse 10% incentive to buy a home ( really take a loser off their books)...i might consider loading up on a 3M home and sit there for 4 years disputing the note...meanwhile living for free. My real question is..what could I buy with all that money they will "GIVE" to me.

 

Make it simple. Its another bank bailout. They want to double tap the consumer. Give them credit to buy overvalued crap, then print more money and tax them.

 

Monday coctails .... Here comes the RIPPER>

 

RIPS.

Mon, 01/13/2014 - 18:53 | 4328678 The Gooch
The Gooch's picture

With all due respect, STFU.

 

Mon, 01/13/2014 - 19:14 | 4328744 TeamDepends
TeamDepends's picture

It can't:  Once bit, never shy.

Mon, 01/13/2014 - 18:57 | 4328695 ncdirtdigger
ncdirtdigger's picture

What kind of uniform do bitcrap miners wear?

Mon, 01/13/2014 - 19:02 | 4328707 fonestar
fonestar's picture

Silicon coloured silk polo shirts, Google glasses and Devo hats to protect from falling bytes.

Mon, 01/13/2014 - 19:05 | 4328721 The Gooch
The Gooch's picture

You would fare well in a machine shop "making stuff".

Mon, 01/13/2014 - 19:13 | 4328740 NemoDeNovo
NemoDeNovo's picture

LOL, you jest.  PhoneStar is gonna mine their way to the Promised Land, no sweat equity required.  This is the new 'meriKa, just sit back and let the money Rain Down, bitchez!!!

 

Ok rant over I feel better now

Mon, 01/13/2014 - 19:25 | 4328781 fonestar
fonestar's picture

It's not about manufacturing physical things anymore.  

I'll just sit and grin... the money will roll right in.

Mon, 01/13/2014 - 19:34 | 4328818 Colonel Klink
Colonel Klink's picture

Fonestar will just sit and spin....as Obama slide right in him.

Fixed it for you Fonestar.

Mon, 01/13/2014 - 19:35 | 4328826 James_Cole
James_Cole's picture

It's not about manufacturing physical things anymore.  

Can't tell if you're joking or not. 

Mon, 01/13/2014 - 19:42 | 4328850 NemoDeNovo
NemoDeNovo's picture

I don't think its a Joke, sadly 

Mon, 01/13/2014 - 19:47 | 4328883 James_Cole
James_Cole's picture

Computers, conjured by wizards & run on magic! 

Mon, 01/13/2014 - 19:48 | 4328887 fonestar
fonestar's picture

The service-based economy has provided a plethora of great careers for people who would otherwise have few marketable skills.  What is needed is the patience to sit all day, learn lingo about the cloud and virtualization and of course convince your employers that you provide rare and essential skills to your organization.

Mon, 01/13/2014 - 19:57 | 4328927 James_Cole
James_Cole's picture

The service-based economy has provided a plethora of great careers for people who would otherwise have few marketable skills.

Right, marketable skills like 'lingo' as opposed to unmarketable skills like being able to make physical things.

Let us not forget, the cloud is of course run entirely on lingo and has no physical component to consider, yet another modern day miracle! 

Mon, 01/13/2014 - 22:55 | 4329424 TheFourthStooge-ing
TheFourthStooge-ing's picture

.

What is needed is the patience to sit all day, learn lingo about the cloud and virtualization and of course convince your employers that you provide rare and essential skills to your organization.

That is absolutely one of the best descriptions I've ever seen of the bullshit-based economy. +1

I'm totally serious.

The chumps who actually learn the skills to run the technology are then expected to do the work. The great careers are for those who learn the lingo and deliver the Grade-A Bullshit®. They end up as VPs to whom the chumps report, take credit for the chumps' successes, blame the chumps for any failures, and are paid at least ten times what any chump makes.

Mon, 01/13/2014 - 19:45 | 4328873 The Gooch
The Gooch's picture

By "money" you mean?

Mon, 01/13/2014 - 20:03 | 4328946 fonestar
fonestar's picture

BITCOIN!!

Mon, 01/13/2014 - 19:29 | 4328796 sessinpo
sessinpo's picture

Actually, I picture fonestar plug into the matrix just like the movie. He is no Neo.

Mon, 01/13/2014 - 19:05 | 4328722 Skateboarder
Skateboarder's picture

No matrix neck implant? I thought that was the hot, new shit.

Mon, 01/13/2014 - 19:28 | 4328772 akak
akak's picture

You will be assimilated into the bitcoin hive mind.
 
Your species will adapt to serving Satoshi, and your biological and technological uniqueness will be added to the Blockchain.

Resistance is futile.

Mon, 01/13/2014 - 23:08 | 4329481 TheFourthStooge-ing
TheFourthStooge-ing's picture

Yet, once again, Blockchain bitcoinism citizens can not self indict.

This kind of 'fonestarist' comments points at something: the quasi certainty achieved by Blockchain bitcoinism.

But once again, self indiction can not be performed. All that mighty intellect, deeply trained, and saddled by Blockchain bitcoinism, fall victim (victimhood is high among Blockchain bitcoinism citizens) of a bias declared and fabricated by one of their reverated idols, Satoshi Nakamoto, that is of prototyped Blockchain bitcoinism citizen chairsman...

You can be sure that anytime that be Blockchain bitcoinism citizens will use their power to avoid self indiction.

Mon, 01/13/2014 - 23:28 | 4329559 akak
akak's picture

Indeedwise, the mettle of the eternal nature of Blockchain 'bitcoin' citizenism lies in the blobbing-up of the bubblemania means, just that.  Monolizing the preaching means to beyond and into the most of all.  Seeking of symmetry in progrationalizing of pseudo-'fake libertarianism' of bitcoin citizenism fableizing.  Shaking hands with the NSA man and calling him noble father.

Have to give a dunghand to them, though, Blockchain 'bitcoin' citizenism citizens are best at ushering in the New World Odor of completely trackable currencies.  But hey, as they say, you can lead a lamb to slaughter but you can't make him not stink.

 

Mon, 01/13/2014 - 23:58 | 4329661 TheFourthStooge-ing
TheFourthStooge-ing's picture

Alas, yes, and yes, alas, the requirement for an exterior.

Blockchain bitcoinism can not stand for itself. It needs an exterior to prop it. Nothing can be answered to internally, it has to be referenced to an exterior.

Funny when you recall that Blockchain bitcoinism has a global aim, meaning that it has to erase the exterior to fulfill its potential.

Just for the fun, lets see if some Blockchain bitcoinism citizens are creative, would be surprise but hey give them a chance, be a kind soul or something like that.

So, once Blockchain bitcoinism has spread everywhere, that there is no more exterior so to speak, how will Blockchain bitcoinism citizens kick the can when ask simple questions about Blockchain bitcoinism?

Mon, 01/13/2014 - 19:21 | 4328762 XAU XAG
XAU XAG's picture

And the 2013/14 Golden Globe awards for the best comedy posts goes to...........................................................................................

 

lonestar! Alias fonestar

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