Jobs Losing Ground

Working-Age Population Has Grown By 8 Million Since 2007, But Half A Million Fewer People Are Employed

"Budget Press Office, Senate Republican (Budget)" May 7, 2014 by Stephen Miller & Andrew Logan: 202.228.0575

Since December 2007, both the size of the total population and the size of the working-age population have markedly increased, but the actual number of people holding jobs in this country has decreased. The total population has increased by roughly 15 million, and the working-age population (those age 16-65) has increased by more than 8 million. But, despite these increases, 531,000 fewer people have jobs.

This statistic highlights an alarming trend that has embodied the President's economic policies: more and more people are leaving the workforce entirely. There are 58 million working-age people who are not working, and the labor force participation rate stands at 62.8 percent, the lowest level in 36 years.

Source: http://www.budget.senate.gov/republican/public/index.cfm/files/serve?File_id=98267ccf-02d8-49d4-b95d-83585bddb87a    

Working-Age Population Has Grown By 8 Million Since 2007, But Half A Million Fewer People Are Employed  Budget Press Office, Senate Republican (Budget)" May 7, 2014 by Stephen Miller & Andrew Logan: 202.228.0575

 

Comments

Over the past 7 years, we have imported between 1 and 2 million legal immigrants each year. This half million short fall is no surprise, is probably understated and will continue to widen until we start to restrict immigration. Don’t hold your breath.  Obama wants an increase in Muslim refugees.

The 62.8% work participation rate for the working-age population means that 37.2% are unemployed.  Large companies, mostly retail and financial are planning lay-offs and closures. Retailers are adjusting to reduced consumer ability to spend and banks are restructuring to stay alive.

If we ever get around to tightening government headcount, those lay-offs would follow, but probably not until after 2016.

Our decades of bad trade agreements, regulations based on junk science and off-shoring our manufacturing have resulted in our economic decline.

The joke going around in the 1940s went like this:

‘Moses said, pick up your shovels, mount your asses and follow me to the promised land…..Roosevelt said: lay down your shovels and sit on your asses, this is the promised land’. 

The prophecy is fulfilled.

Norb Leahy, Dunwoody GA Tea Party Leader