The numbers of US workers not in the labor force soared to 91.8 million in December.
The labor participation rate just dropped to a fresh 35 year low this past month. (Zero Hedge)
Thank you, Barack Obama.
In December for every job created, nearly five people left the labor force.
US Rep. Pete Sessions (R-TX) slammed the Obama administration today after another dismal jobs report.
Via The Daily Caller:
“Today’s jobs report underscores a deeper problem facing our economy: a large and growing block of people who are chronically jobless and completely outside the workforce. In December, the economy added only 74,000 jobs – not nearly enough to keep up with population growth –and 347,000 left the workforce. That means for every one job added, nearly 5 people left the workforce entirely. There are now nearly 92 million Americans outside the workforce, resulting in the lowest participation rate in 36 years. The President’s immigration plan will only make things dramatically worse – and no amount of ‘promise zones’ will be a sufficient remedy for the millions of displaced workers.
More… Just when you thought it couldn’t be any worse – 2 million Americans left the US labor force in 2013.