Obama’s Jobless Recovery Continues to Leave the Private Sector Behind
The U.S. economy generated just 88,000 new jobs in March 2013. We’ve discussed numerous times here at Save Jersey how that’s only about half of what the economy needs to create on a monthly basis just to keep up with ordinary population growth.
The unemployment rate dipped slightly from 7.7% to 7.6%. How? With insufficient job growth for a growing country? Remember… the regular unemployment rate that you hear on TV is the U3 rate; it doesn’t account for underemployed citizens as well as those who’ve simply given up looking.
In March 2013 alone, 663,000 more citizens joined the pool of non-working Americans, bringing total labor force non-participation to 90 million, representing the worst rate since 1979. That’s about 28% of the population sitting on the sidelines!
For those of you who were victims of an Abbott district, 88,000 + (-663,000) = NOT GOOD.Click here for reuse options!
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