The Big Lie About Job Recovery

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The US Economy is Losing, Not Gaining, Jobs EMRATIO_Max_630_378

 

By Dr Stuart Jeanne Bramhall

 

Thanks to The Economic Collapse, I have come across an extremely illuminating chart (The Civilian-Employment Population Ratio) produced by the Federal Reserve Bank of St Louis. It depicts the true US unemployment level. 

Based on Department of Labor statistics, it reveals that only 58.3% of working age Americans have a job. Of the other 41.7% (92 million), the Obama administration officially recognizes only 11 million or 7.3% as unemployed. The other 34.4% (92 million) are classified as “not in the labor force.” In other words, they don’t want jobs.

As you can see from the graph, they wanted jobs up until 1999. However for some mysterious reason they lost interest and now they don’t want to work any more.

It’s extremely difficult to listen to Obama and Wall Street crow about economic recovery while more and more Americans fall into poverty. The US economy, as measured by job availability, is getting worse, not better. Even the Department of Labor admits the US lost 691,000 full time jobs in September.

The graph reveals that the percent of unemployed Americans of working age has increased from 35.5% in 1999 to 41.7% in 2013. Most of that increase (5%) has occurred since Obama was first elected in 2008.  

Photo credit Federal Reserve Bank of St Louis

 

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