Did You Know...

   

Labor force participation rate, welcome back to 1978

Share
By Doug Powers  •  January 10, 2014 11:58 AM

**Written by Doug Powers

null
Image source: Florida Pundit

Put on some bell bottoms, crank up a Bee Gees album and pop open a can of Billy Beer, because we’re back in 1978.

The White House will be spin the unemployment rate drop to 6.7 percent as great news, but a good deal of the drop is due to the fact that another 374,000 people dropped out of the labor force in December. The labor force participation rate is back to 1978 levels (graph via Zero Hedge):

null

The way the government calculates jobless numbers, the only way to get the unemployment rate to zero percent would be for every single working American to quit his or her job and never look for another.

Ed Morrissey at Hot Air has a good roundup of the latest numbers here.

Harry Reid admits what an economic disaster they’ve been:

**Written by Doug Powers

Twitter @ThePowersThatBe

blog comments powered by Disqus
~ For the latest breaking news, be sure to join Michelle's Email List:

Obama: Economic patriotism means we rise or fall together

July 28, 2014 07:37 AM by Doug Powers

gypsy

Wherever we go, whatever we do…

Eleanor Holmes Norton vigorously defends Obama administration’s right to privacy

July 27, 2014 10:47 AM by Doug Powers

holmesnorton

Another Democrat sticks up for the ‘little people’

Speak-os, typos and wackos

July 26, 2014 11:47 AM by Doug Powers

thelmalouise

FACT: Obama boosts labor force participation rate

July 24, 2014 07:55 AM by Doug Powers

labor

War on women


Categories: Barack Obama, Campaign finance

Follow me on Twitter Follow me on Facebook