Obamanomics in Action: US Labor Participation Rate Falls Behind Great Britain for First Time in 36 Years
Obamanomics in action–
One million fewer Americans are working today than before Barack came into office.
The US labor participation rate has fallen behind Great Britain for the first time in 36 years thanks to Obama’s failed big government policies.
Liberty Unyielding reported:
The labor force participation rate – the proportion of adults who are either working or looking for work – started to decline in the US in 2000 and has plunged since 2008 from 66 to 63 per cent.
The equivalent of 7.4m people are no longer part of the labour force. Yet participation in the UK has held up remarkably well despite the country’s prolonged downturn and now stands at 63.6 per cent – the first time in 36 years that it has been higher than the US rate.
Economists have been surprised by the trends, not least because the US labour market has long been seen as one of the most resilient and flexible.
“America is even more flexible than us and yet there is this complete contrast,” said Paul Gregg, economics professor at the UK’s Bath university.
And, then there’s the long-term unemployment disaster:
Fact of the Day: the # of long-term unemployed Americans has more than doubled since 2007, from 18.4% to 39.3%: http://t.co/21o8JZMWHj
— House Republicans (@HouseGOP) March 25, 2014