Tuesday, July 10, 2012

Just 64.3 Percent Of Labor Force Is Working, A Level We Left Behind In 1985

Chart and data here.

Thomas Sowell for Investors.com puts that into perspective, here:


"During this administration, the proportion of the working-age population that has a job has fallen to the lowest level in decades. The official unemployment rate does not count the millions of people who have simply given up looking for a job.

"If everybody gave up looking for a job, the official unemployment rate would fall to zero. But that would hardly mean that the problem was solved or that the 'stimulus' worked. Creating particular jobs does not mean a net increase in jobs."