Fewer Americans are laboring.
The percentage of Americans who have a job or are looking for one, known as the labor force participation rate (LFPR), has plunged to a 34-year low, according to a new report from staffing company Express Employment Professionals.
Such low labor participation rate shows that we have an Overall economy that has stalled and a recovery that never really happened. Whether by design to grow a bigger more pervasive and invasive centralized government in our lives the end result is the same in this benefits the progressive agenda. Our jobs growth needs to be 350,000 per month in full time employment versus what we have now which is minimal part-time employment and very little full-time job growth.
As for the 90 million Americans that are no longer in the workforce, their skills will atrophy, new competition enters the force daily searching for the same jobs, and in the end it will be very hard for them to return or transition to other jobs which are also not readily available.
The Obama administration will not unleash the engine of growth that is the American economy especially when it comes to the energy sectors and manufacturing which is affected by tax policy and trade deficits as a result of tax policy.
In order for the progressive agenda to succeed in America in a centralized government to be in control of much of our lives our needs in our wants it is the middle class that must suffer and become the dependent class.
Middle-class income is down over $4,000 per household. A strong middle class that is the incubator of growth and the engine that drives this economy is sorely needed to get us out of the Obama recession.