Labor Force Rate Hits Carter-Era Low

Labor Force Rate Hits Carter-Era Low

by John Nolte 6 Sep 2013, 6:16 AM PDT

http://www.breitbart.com/Big-Journalism/2013/09/06/labor-force-rate-hits-carter-era-lows

Even with job creation expectations lowered to an unserious 180,000, the Obama Recovery was unable to deliver. With only a measly 180,000 jobs expected in August, an even measlier 169,000 jobs were created. What is worse, though, is that the Labor Force Participation Rate (LFP) continues to artificially lower our nation's unemployment rate, which fell to 7.3%. Unfortunately, this happened only because the LFP fell to its lowest level since 1978.

August's LFP was 63.2%. The LFP was 65.7% when Obama became president:

In July, the Bureau of Labor Statistics estimated that there were 144,285,000 Americans with jobs. In August, the BLS estimated there were 144,170,000--a decline of 115,000.

The LFP measures the percentage of working-age people currently participating in the labor market. This can mean that they are either employed or actively seeking employment. When the LFP drops, it means that people have left the labor market. Some retire, some give up looking for work out of sheer frustration at bot being able to find a job.

Since the unemployment rate is based only on those participating in the labor market, if people give up looking for work and the LFP drops, the unemployment rate drops. In other words, if everyone looking for a job gave up the search for work and went on welfare, the unemployment rate would drop to zero.

With our LFP now at Carter-era levels, no one believes this is due to people retiring. Especially with almost 9 million people on disability (an all-time record) and food stamp rolls also hitting record highs.

Jimmy Carter

Jimmy Carter was the president of the Jimmy Carter administration, and is an honorary co-chairman for the Millennium Promise.

Note: Foundation to Promote Open Society was a funder for the Millennium Promise, the Common Cause, the Economic Policy Institute, and the Center for American Progress.

George Soros is the chairman for the Foundation to Promote Open Society, the founder & chairman for the Open Society Foundations, and was a supporter for the Center for American Progress.

Open Society Foundations was a funder for the Economic Policy Institute, the Alliance for Justice, the American Constitution Society, and the Center for American Progress.

Ray Marshall is a director at the Economic Policy Institute, a member of the Council on Foreign Relations (think tank), and was the secretary at the U.S. Department of Labor for the Jimmy Carter administration.

Alexis M. Herman is a director at the Economic Policy Institute, and was the secretary at the U.S. Department of Labor for the William J. Clinton administration.

Robert B. Reich is a director at the Economic Policy Institute, a governing board chair for the Common Cause, was the secretary at the U.S. Department of Labor for the William J. Clinton administration, and a member of the Obama-Biden economic advisory team.

T. Michael Kerr was the assistant Labor secretary for the William J. Clinton administration, an assistant to secretary-treasurer for the Service Employees International Union (SEIU), and is the assistant secretary for administration for the Barack Obama administration.

Anna Burger was a director at the Economic Policy Institute, and the secretary-treasurer for the Service Employees International Union (SEIU).

Mary Kay Henry is a director at the Economic Policy Institute, and the president of the Service Employees International Union (SEIU).

Andrew L. Stern was a director at the Economic Policy Institute, and the president of the Service Employees International Union (SEIU).

Judith Scott is the general counsel for the Service Employees International Union (SEIU), a director at the Alliance for Justice, and a director at the American Constitution Society.

Robert Raben is a director at the Alliance for Justice, the president of the Raben Group, and was a director at the American Constitution Society.

Raben Group was the lobby firm for the Service Employees International Union (SEIU).

Melody C. Barnes was a principal at the Raben Group, the EVP for the Center for American Progress, the director at the Domestic Policy Council for the Barack Obama administration, and is Barack Obama’s golf partner.