With yet another disappointing Obama jobs report in the wind this week, it is also important to note that the number of Americans who have simply given up even looking for a job is at its highest number in U.S. history.
During Barack Obama’s final weeks as president, another disappointing jobs report has been issued. Economists had hoped that about 176,000 new jobs would be created for the last period, but the report finds only 156,000 jobs added. This is quite a disappointment.
But that is nothing compared to the number of Americans who have just given up hope that they’ll ever be able to find a job in the first place.
By December, statistics from the Labor Department’s Bureau of Labor Statistics recorded that 95,102,000 Americans have dropped out of the labor force, according to CNSNews.com.
“When President Obama took office in January 2009, 80,529,000 Americans were not in the labor force, the highest number on record,” CNS reports. “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.”
The number of Americans in the labor force have now dropped to a 38-year low and stands at only 62.4 percent of working age Americans who have a job or are seeking one.
This means that Obama’s terrible economic decisions have driven employment to its lowest level in many decades and has been so bad that millions of Americans have simply given up and fallen out of the job market altogether.
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