US Labor Force Participation Rate

The US Labor Force Participation Rate for 6/18 is 62.7%. The civilian labor force participation rate is the number of employed and unemployed but looking for a job as a percentage of the population aged 16 years and over. 

https://tradingeconomics.com/united-states/labor-force-participation-rate

In 1996 the US Participation rate was 66.8%. that means that 37.3% of US working age people are unemployed.

For the age 16 to 24 group the rate dropped from 65.5% in 1996 to 55.2% in 2016. Student employment was replaced by minority, immigrant and refugee employment. I use the student employment rate to track the restoration of the US economy.

For those over age 65, the rate increased from 12.1% to 19.3%. Many continued working to build retirement savings. Baby-boomers were reluctant to retire. The age 24 to 55 group participation was around 83% in 1996 and dropped to about 81% in 2016.

https://www.bls.gov/emp/tables/civilian-labor-force-participation-rate.htm

US household debt is $13 trillion. US federal government debt is $21 trillion and unfunded liabilities are $124 trillion.

https://www.cnbc.com/2018/02/13/total-us-household-debt-soars-to-record-above-13-trillion.html

US GDP is expected to be $20.4 trillion in 2018 and $23.8 trillion in 2022

https://www.statista.com/statistics/263591/gross-domestic-product-gdp-of-the-united-states/

US federal budget deficit is about $600 billion for 2018

http://thehill.com/policy/finance/382033-deficit-nears-600-billion-in-first-half-of-2018

US federal budget deficit is estimated to reach $1 trillion by 2020.

https://www.nytimes.com/2018/04/09/us/politics/federal-deficit-tax-cuts-spending-trump.html

We need to cut federal spending to balance the federal budget, increase manufacturing jobs in the US and increase US labor force participation to about 80%.

Norb Leahy, Dunwoody GA Tea Party Leader