ScienceRocks
Democrat all the way!
- Banned
- #1
The current economic recovery is a fraud
The current economic recovery is a fraud | Fox NewsDec. 17, 2012: A protester carries a banner as he walks across the stage during the Charlotte Chamber's 11th Annual Economic Outlook Conference. (AP)
For those who would see recovery in current economic data, there are these facts to ponder.
The first is that most of the decline in the unemployment rate has been a result not of more people working, but of more people leaving the labor force.
In November, unemployment went down to 7.7 from 7.9 percent in October, the lowest unemployment rate since late 2008. But at the same time unemployment declined, so did labor force participation--which fell to 63.6 in November from 63.8 percent in October. Half a million Americans have left the labor market in recent months.
The decline in the unemployment rate has been a result not of more people working, but of more people leaving the labor force.
Long term economic growth--and even growth in the short run--depends on an expanding labor force. Since January 2009, the labor force participation rate has declined by almost two percentage points.
That's huge