Sunday, January 12, 2014

The Great Shrinking Labor Force

Normally one of the first things people think of when others are having financial difficulty is to counsel them to get a job.
Well at least that was the way it used to be before Obama and the democrats lied their way into office and then proceeded to destroy the economy.
The job market has been shrinking steadily under Obama  to the point that some people have been out of the job market so long that most employers, who are being squeezed by Obamacare mandates and regulations,can't financially take a chance hiring someone with rusty job skills.
Others are so discouraged or close enough to retirement that they have dropped out of the job market altogether.

People Not In Labor Force Soar To Record 91.8 Million; Participation Rate Plunges To 1978 Levels
Curious why despite the huge miss in payrolls the unemployment rate tumbled from 7.0% to 6.7%? The reason is because in December the civilian labor force did what it usually does in the New Normal: it dropped from 155.3 million to 154.9 million, which means the labor participation rate just dropped to a fresh 35 year low, hitting levels not seen since 1978, at 62.8% down from 63.0%.~snip~
Have no fear though because the democrats got your back.
Their solution is to pull back on employer mandates and work to come up with a solution to Obamacare.....OK I'm just kidding.
Their answer is to expand unemployment insurance into what looks like perpetuity.

 Reid backs down in unemployment fight
Senate Majority Leader Harry Reid (D-Nev.) says he is now open to considering Republican amendments to a bill extending emergency unemployment benefits through most of 2014.
On Thursday, Reid clashed with several Republicans after saying he didn't want to consider any changes to an amended version of the bill. Reid's amendment paid for an 11-month extension by extending the sequester for another year, into 2024.
Republicans have other ideas on how to pay for the benefits, but Reid dismissed them.~snip~
Democrats aren't the only ones to blame here the republican minority should be fighting hard trying to find ways to get government out of the way so businesses can grow and hire more.
What we are witnessing is government at its most successful, expanding itself and creating dependency to justify its ever expanding reach.

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