So much for that much anticipated rebound in the participation rate.
After it had managed to post a modest increase in the early part of the year, hitting the highest level in one year in March at 63%, the disenchantment with working has returned, and the labor force participation rate had flatlined for the next few month, ultimately dropping in November to 62.7%, just shy of its 35 year low of 62.4% hit last October. This can be seen in the surge of Americans who are no longer in the labor force, who spiked by 446,000 in November, hitting an all time high of 95.1 million.
As a result of this the US labor force shrank by 226,000 to 159,486K, down from 159,712K a month ago, and helped the unemployment rate tumble to 4.6%, the lowest level since August 2007.
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This is fast approaching 1/3 of the country. How the he** do we support that? The prophecy of "Atlas Shrugged" is ringing more and more true.
ReplyDeleteAnd Obama says there is only 4.5% unemployment...LOL
ReplyDeleteThe entire liberal voting block denies the existence of this as a statistic! That's the only way they get away with saying the number is sooo low.
ReplyDeleteReally, if the nubers reflected accurately what was actually going on, the turd would not have won a second term - let alone the HildaBeast getting so close to winning!
I quit working because me and my husband were owing more in taxes than it was worth me working.I worked a minimum wage job for extra cash and most of the money went to medicare SS income tax..and pushed us into a higher bracket, if gov wants to keep taking some people dont see the worth in a higher paying job or having second or third jobs.
ReplyDelete12:18 It sounds like you need an accountant that can provide you with tax strategies to lower your tax bracket while bringing more money home.
ReplyDelete