The article by CBS indicates “Not only is job growth continuing, but it is accelerating”, this is PURE DECEPTION! Those getting jobs that are being factored in for "job growth" & "xxx,xxx jobs added" are people who ALREADY have a job getting hired somewhere else. Think about it for a minute if the economy is getting better and real jobs are being created then why did the number of those out of the labor force increase?! Ask yourself why the unemployment rate is at "6.3%" if 800K MORE people left the labor workforce!? Shouldn't the 92M out of the labor force be dropping not rising if we are in a recovery and real jobs are being created!?
The real unemployment rate continues to hold around 23%
Those seeing the headline may be questioning how one comes to 100 million Americans out of work? Well the number is wrong.... it's higher!
92,594,000 as reported today are out of the labor work force
+9,753,000 unemployed per the BLS
= 102,347,000
BUT it doesn't end there, a number of Americans are no longer qualified for unemployment benefits and have tapped into disability insurance which is holding at 10,978,040 (as of the end of 2013). The number of Americans on disability has spiked since 2008, what the exact figure is unknown but it's safe to assume not all are truly disabled.
Another figure not factored in is the number of youth unemployed(16yrs+). In some states it is at depression era levels; makes sense since we are in a stealth depression this is one segment we are told the truth on. Why are teens unable to get jobs (predominantly part-time)? Because adults who can't find work are taking the jobs teens would normally fill to compensate for their job loss, some working 2-3 part-time jobs.
If we had the actual numbers of youth UE and people on disability, to make up for lost UE benefits, we are well over 105 million possibly close to 110 million people out of work! Yes a third of Americans... the numbers don't lie!
You are being lied to America by the very system & people responsible for the economy being so bad. I am long-term unemployed, for the record I have NEVER taken a penny from the govt. there are no new jobs from a growing economy out there. The jobs lost over the last couple years are not coming back either! Companies have learned how to operate with smaller staff, couple that with obamacare you will see reductions in workforce to minimize the impact of obamas legacy.
There are no jobs in the US because we have gone from being a producer nation to a servicer nation. We make nothing here no thanks to the anti-business policies coming out of DC by BOTH sides. Taxes, regs, EPA, unions etc have run companies out of the states overseas. I do not fault companies going overseas for lower production and labor costs; they are in business to make money not break even or go broke! Want the jobs brought back to the US KICK ALL INCUMBENTS OUT! DC has to change, the tax code needs to be scrapped, the EPA must be gutted and revamped, unions time has come and gone.
Report: More Than 92 Million Americans Remain Out Of Labor Force
WASHINGTON (CBSDC/AP) — Despite the unemployment rate plummeting, more than 92 million Americans remain out of the labor force.
The unemployment rate dropped to 6.3 percent in April from 6.7 percent in March, the lowest it has been since September 2008 when it was 6.1 percent. The sharp drop, though, occurred because the number of people working or seeking work fell. The Bureau of Labor Statistics does not count people not looking for a job as unemployed.
The bureau noted that the civilian labor force dropped by 806,000 last month, following an increase of 503,000 in March.
The amount (not seasonally adjusted) of Americans not in the labor force in April rose to 92,594,000, almost 1 million more than the previous month. In March, 91,630,000 Americans were not in the labor force, which includes an aging population that is continuing to head into retirement...
...“The number of long-term unemployed (those jobless for 27 weeks or more) declined by 287,000 in April to 3.5 million; these individuals accounted for 35.3 percent of the unemployed. Over the past 12 months, the number of long-term unemployed has decreased by 908,000,” the press release stated.
Employers have now added an average of 238,000 jobs the past three months, up from 167,000 in the previous three.
“Not only is job growth continuing, but it is accelerating,” said Patrick O’Keefe, director of economic research at the accounting and consulting firm CohnReznick....more
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