Yup, Barry’s little masterplan for our economy is working just great! And you can’t say that our ‘Fearless Leader’ isn’t some sort of economic mastermind, since what has been taking place during his tenure, economically speaking, is exactly what he intended to have take place. That being, of course, to increase the number of Americans without a job, making it far more likely that they become addicted to government assistance and therefore more likely to vote for Democrats.
So with all that being said, the net result of Barry of the socialist economic policies that Barry has implemented is that we now have a record 94,031,000 Americans who were not in the American labor force last month, which is 261,000 more than in July, and a labor force participation rate that has remained stuck at 62.6 percent, a 38-year low, for a third straight month in August. This was reported by the Labor Department just yesterday as the nation heads into the long ‘Labor’ Day weekend.
The number of Americans not in the labor force has continued to rise practically since ‘Day 1’ of Barry’s presidency. In August, according to the Labor Department’s Bureau of Labor Statistics (BLS), the nation’s civilian noninstitutional population, consisting of all those people who are 16 or older and who were not in the military or an institution, reached 251,096,000. Of those, 157,065,000 participated in the labor force by either holding a job or by at least actively seeking one.
So what Barry has been able to accomplish over his time in office, through a number of disastrous policies, is to have reduced to 157,065,000 the number of Americans who now participate in the nation’s labor force, a number which is equal to only 62.6 percent of the 251,096,000 civilian noninstitutional population, the same as it was in July and June. Not since October 1977, during the days of Jimmy Carter, when the participation rate dropped to 62.4, has the percentage been this low.
And now for a little historical context regarding what it is that Barry has actually been able to bring about here in 21st century America. In January 1948 — the first year the data was recorded — 88.7 percent of men, aged 20 and older, were participating in the U.S. labor force. The rate first dipped below 80 percent in November 1975 (79.9%), spiraling steadily downward through August 2015, when 71.5 percent of men 20 and older were participating in the labor force.
It’s the opposite story for women 20 and older: In 1948, a time when one-earner incomes were generally sufficient to support the family, only 31 percent of women participated in the workforce. In May 1966, the rate climbed above 40 percent for the first time; it broke 50 percent in October 1978; and 60 percent in July 1996. When Barry took office 60.9 percent of women were participating in the labor force, shortly after the participation rate for women started heading down. Last month, it stood at 58.2 percent.
According to yesterday’s jobs report, among the major demographic groups, the unemployment rate for whites declined to 4.4 percent in August. The rates for adult men (4.7 percent), adult women (4.7 percent), teenagers (16.9 percent), blacks (9.5 percent), Asians (3.5 percent), and Hispanics (6.6 percent) showed little change in August. The number of long-term unemployed (those jobless for 27 weeks or more) held at 2.2 million in August and accounted for 27.7 percent of the unemployed.
Also, the number of Americans employed part time, for economic reasons, which is sometimes referred to as involuntary part-time workers, ticked up in August to 6,483,000, or 158,000 more than the 6,325,000 recorded in July. These are individuals who, more than likely, would have preferred full-time employment but instead were forced into working part time because their hours had been cut back or because they were unable to find a full-time job. This is the Barry “Almighty” economy.
So what we now have after having been made to endure nearly seven years of Barry being president, is a scenario where nearly one third of this nation’s working age population, not working. Meanwhile we now have over 40 million people on food stamps, 45 million Americans now in poverty, a 100 million are on disability, and a 100 million Americans now on some form of government assistance. These numbers are a direct result of Barry’s socialist approach to our economic problems.