Looks Like 52% of Those Eligible to Work are Out of the Labor Force

Originally posted at the Blacksphere

One of Friday’s Drudge Report headlines¬†read:

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The shocking title linked to an article entitled: “People Not in Labor Force Soar to Record 91.8 million; Participation Rate Plunges to 1978 Levels.” Here’s what the article says:

 

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%.

 

 

And the piece de resistance: Americans not in the labor force exploded higher by 535,000 to a new all time high 91.8 million.

 

The author says: “The jobless, laborless recovery continues to steam on.”

I’m no math whiz, but based on my humble calculation, here’s what that 91.8 million number means:

As of 2012 the US population was 313,900,000.

There were 136,860,400 Americans, either under the age of 18, or over the age of 65, all considered part of the ¬†‘ineligible to work’ group. That leaves 177,039,000 Americans who are in the age range of those eligible to work.

That means — if the Drudge’s headline is true, and 92 million of those eligible to work are no longer in the labor force, and if my rudimentary calculation is correct than 52% — more than one half of the US workforce is currently unemployed.

So if anyone tries to tell you that Barack Obama has been unsuccessful, just cite the 52% of out-of-the-labor-force figure.

The out-of-the-labor-force number proves, without a doubt, that the president has been wildly successful at consistently screwing up.

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