Obama’s Last Job Report: A Record 95, 102,000 Americans Gone From Labor Force. “Hope and Change”, My Hindquarters

econotalk-nrd800

…John’s last-minute economic plan does nothing to tackle the number-one job facing the middle class, and it happens to be, as Barack says, a three-letter word: jobs, j-o-b-s, jobs. – Democratic Party Vice-Presidential Candidate Joe Biden, October 15, 2008

Now, over 8 years later, a seven-letter word describes Obama’s Record at making things possible for employers to create actual, non-governmental full-time jobs for Americans:

FAILURE

CNSNews.com reports that

Barack Obama’s presidency began with a record number of Americans not in the labor force, and it’s ending the same way.

The final jobs report of the Obama presidency, released Friday, shows that the number of Americans not in the labor force has increased by 14,573,000 (18.09 percent) since January 2009, when Obama took office, continuing a long-term trend that began well before Obama was sworn in. 
In December, according to the Labor Department’s Bureau of Labor Statistics, a record 95,102,000 Americans were not in the labor force, 47,000 more than in November; and the labor force participation rate was 62.7 percent, a tenth of a point higher than in November.

The participation rate dropped to a 38-year low of 62.4 percent on Obama’s watch, in September 2015. It was only 3-tenths of a point higher than that last month.

People over age 16 who are no longer working or even looking for work, for whatever reason (retirement, school, personal preference, or gave up), are counted as not participating in the labor force.

When President Obama took office in January 2009, 80,529,000 Americans were not in the labor force, the highest number on record. That number rose steadily during his two terms, reaching a record 95,055,000 in November 2016, then setting another record (95,102,000) in December.

BLS said the December unemployment rate increased a tenth of a point to 4.7 percent, well below the Obama-era high of 10 percent. Last month, a record 152,111,000 Americans were counted as employed, up 63,000 from November; and the number of unemployed stood at 7,529,000, an increase of 120,000 from the prior month.

But people who stop looking for a job are no longer counted as unemployed.

In an interview with a Chicago reporter yesterday, Obama said he has done “an enormous amount” to create greater economic opportunity for Americans.

“I took an economy that was about to go into a Great Depression, and we’ve now had a little over six years of straight economic job growth, an unemployment rate that’s down below 5 percent, and incomes that have gone up and poverty that has gone down.” 

Obama also conceded that “there are still folks out there who struggle and communities that are still depressed.” He called it an “ongoing battle.”

“We have to continue to work to make sure that kids are getting the best education they can, that jobs are being located so that people in need can access them, and that’s going to be something that I suspect we’ll all be working on, and folks will still be working on after I’m gone.”

During Obama’s two terms in office, the number of employed Americans reached its lowest point – 138,013,000 – in December 2009. Eight years later, in December 2017, 14,098,000 Americans have been added to the employment rolls.

The government collects payroll taxes from Americans who work, and some of that money is spent on government programs that support people who do not work. So the more who work, the better for the economy.

In December, the nation’s civilian noninstitutionalized population, consisting of all people age 16 or older who were not in the military or an institution, reached 254,742,000.  Of those, 159,640,000 participated in the labor force by either holding a job or actively seeking one.

The 159,640,000 who participated in the labor force equaled 67.3 percent of the 254,742,000 civilian noninstitutionalized population.

According to BLS, total nonfarm payroll employment rose by a lackluster 156,000 in December. Over the past 3 months, job gains have averaged 165,000 per month.

Among the major worker groups, the unemployment rates for adult men (4.4 percent), adult women (4.3 percent), teenagers (14.7 percent), Whites (4.3 percent), Blacks (7.8 percent), Asians (2.6 percent), and Hispanics (5.9 percent) showed little change in December.

The number of long-term unemployed (those jobless for 27 weeks or more) was essentially unchanged at 1.8 million in December and accounted for 24.2 percent of the unemployed. In 2016, the number of long-term unemployed declined by 263,000.

Who are these people who are no longer a part of America’s Work Force?

They are average Americans like you and me, who, in their very real despair, have given up trying to find a job, choosing instead to work under the radar as handymen or flea market vendors. some not even working at all, sitting at home and letting Uncle Sugar take care of them.

When you ask Lliberals about this unacceptable situation, they will respond to you with charts and graphs designed to buttress their opinion that Obama has actually moed America’s Stagnant Economy forward.

And, if that argument doesn’t work, their pre-programmed response is

But…but…Booosh!!!

Quite frankly, the reason that Obama Presidency did not move our economy forward, like President Ronald Reagan did, is because Obama was more concerned about growing the Central Government, than he was about growing American Production by freeing the job creators from punitive tax rates, in order to encourage the growth that will revitalize our economy.

That is why I once spent 6 hours on a Saturday, on the phone with Punjab from Calcutta about my Comcast Cable Box, which was on the fritz.

But, I digress…

Make no mistake, granting amnesty to millions of unskilled, underage illegal aliens would have done and still will do nothing for the health of our economy.

This action would simply provide future voters for the Democrat Party, which is now firmly in the control of the Far Left. If Obama grants amnesty before he leaves office, he would be putting a further strain on our economy, as all of these “little rascals”, would rely on their new Uncle Sugar for their “daily bread”.

A popular Liberal Defense that was going around during Obama’s Presidency was the claim that Reagan actually had a bigger Federal Government than Obama.

The funny part is: It’s true.

It was larger because President Reagan, through his sound Economic Policy, actually increased tax revenues.

American Production rose, therefore,  TAX REVENUES INCREASED.

Yes, “Trickle-Down Economics, “trickled up”, allowing for a well-funded, strong American Military and Administration.

You see, boys and girls, that’s the secret of American Exceptionalism,am a concept that Obama always gave lip service to, but, clearly, never  believed in.

For America to proper, we must remain free. For America to remain free, we must be prosperous.

American Capitalism is the engine which drives a strong, vibrant economy.  American Capitalism is the result of the courageous Entrepreneurial Spirit of American Citizens. The same “Can Do” attitude which led to Western Expansion and triumphs against those before-mentioned enemies, foreign and domestic.

The current state of the Shining City Upon a Hill can be summarized thusly:

America was formed by men seeking FREEDOM. She grew and prospered because of an indomitable will and spirit forged through the Refiner’s Fire, guided by the common-sense words, inscribed in our Constitution, and administered through a Constitutional Republic. Our nation’s largesse and strength comes through the actions and character of her citizens, not through the usurpation of power by professional politicians, who has long since lost touch with their constituency.

Obama’s attempt to “radically change” our nation into a Third World Barrio was met with resistance, not because of professional politicians, but, because of the defiance of the American People, who love their country.

It was this Defiant Spirit which caused Americans to elect American Entrepreneur and Businessman Donald J. Trump as our 45th President.

And, President-elect Trump recognizes whom he owes his Presidency to.

On November 8th, we proved that America’s Heritage of God and Country is still alive and well in the hearts and minds of the overwhelming majority of the citizens in this country, even those who have dropped out of the workforce.

A President’s role, if he wants to be viewed positively as a world leader, is to work to restore America to a position of strength, both both in foreign and domestic policy.

President-elect Trump understands the mandate that he has been given and is already serving Americans by making deals which will help to MAKE AMERICA GREAT AGAIN .

He understands that it all starts with the Engine That Drives Our Country.

And, President-elect Trump already has his hand on the throttle.

Oh…and one more thing…

The Russians did not stop Hillary from continuing Obama’s “Legacy”.

FED UP AVERAGE AMERICANS DID!!!

Until He Comes,

KJ

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