Sunday, November 10, 2013

10 Facts About The Growing Unemployment Crisis In America That Will Blow Your Mind

Michael Snyder
Activist Post

Did you know that there are more than 102 million working age Americans that do not have a job? Yes, I know that number sounds absolutely crazy, but it is true.  Right now, there are more than 11 million Americans that are considered to be "officially unemployed", and there are more than 91 million Americans that are not employed and that are considered to be "not in the labor force".  When you add those two numbers together, the total is more than 102 million. Overall, the number of working age Americans that do not have a job has increased by about 27 million since the year 2000.  But aren't things getting better?

After all, the mainstream media is full of headlines about how "good" the jobs numbers for October were.  Sadly, the truth is that the mainstream media is not being straight with the American people.  As you will see below, we are in the midst of a long-term unemployment crisis in America, and things got even worse last month.

In this day and age, it is absolutely imperative that people start thinking for themselves.  Just because the media tells you that something is true does not mean that it actually is.  If unemployment was actually going down, the percentage of the working age population that has a job should actually be going up.  As you are about to see, that is simply not the case.  The following are 10 facts about the growing unemployment crisis in America that will blow your mind...

#1 The percentage of working age Americans with a job fell to 58.3 percent in October.  The lowest that number has been at any point since the year 2000 is 58.2 percent.  In other words, there has been absolutely no "jobs recovery".  During the last recession, the civilian employment-population ratio dropped from about 63 percent to below 59 percent and it has stayed there for 50 months in a row.  Will the percentage of working age Americans with a job soon drop below the 58 percent mark?...

Employment-Population Ratio November 2013

#2 The U.S. economy lost 623,000 full-time jobs last month.  But we are being told to believe that the economy is actually getting "better".

#3 The number of American women with a job fell by 357,000 during the month of October.

#4 The average duration of unemployment in October 2013 was nearly three times as long as it was in October 2000.

#5 The number of Americans "not in the labor force" increased by an astounding 932,000 during October.  In other words, the Obama administration would have us believe that nearly a million people "disappeared" from the U.S. labor force in a single month.

#6 The number of Americans "not in the labor force" has grown by more than 11 million since Barack Obama first entered the White House.

#7 In October, the U.S. labor force participation rate fell from 63.2 percent to 62.8 percent.  It is now the lowest that it has been since 1978.  Below is a chart which shows how the labor force participation rate has been steadily declining since the year 2000.  How can the economy be "healthy" if the percentage of Americans that are participating in the labor force is continually declining?...

Labor Force Participation Rate

#8 If the labor force participation rate was still at the same level it was at when Barack Obama was elected in 2008, the official unemployment rate would be about 11 percent right now.

#9 Even if you are working, that does not mean that you are able to take care of yourself and your family without any help.  In fact, approximately one out of every four part-time workers in America is living below the poverty line.

#10 In January 2000, there were 75 million working age Americans that did not have a job.  Today, there are 102 million working age Americans that do not have a job.

So what are our politicians doing to fix this?

Shouldn't they be working night and day to solve this crisis?

After all, Barack Obama once made the following promise to the American people...
But I want you all to know, I will not rest until anybody who's looking for a job can find one -- and I'm not talking about just any job, but good jobs that give every American decent wages and decent benefits and a fair shot at the American Dream.
Unfortunately, things have not improved since Obama made that promise, but he has found the time to play 150 rounds of golf since he has been president.

Meanwhile, because there aren't enough jobs, the number of Americans living in poverty continues to grow.

As I wrote about the other day, according to new numbers that were just released an all-time high 49.7 million Americans are living in poverty.

And right now 1.2 million public school students in the United States are homeless.  For many more statistics like this, please see my previous article entitled "29 Incredible Facts Which Prove That Poverty In America Is Absolutely Exploding".

The only thing that most Americans have to offer in the marketplace is their labor.  If they can't find a job, they don't have any other way to take care of themselves and their families.

The future of the middle class in America depends upon the creation of good jobs.  It really doesn't matter how far the quantitative easing that the Federal Reserve has been doing pumps up the current stock market bubble.  The American people were told that "economic stimulus" was the reason for doing all of this reckless money printing, but the percentage of working age Americans with a job is now actually lower than it was four years ago.  Quantitative easing has been a complete and total failure in the job creation department, and it is doing a tremendous amount of long-term damage to our financial system.

The really frightening thing is that the Federal Reserve and the federal government have supposedly been doing all they can to try to "create jobs" and they have utterly failed.  In fact, this is the first time in the post-World War II era that we have not seen an employment recovery following a recession.

And now the next wave of the economic collapse is rapidly approaching.  What that hits us, millions more Americans will lose their jobs.

So the truth is that this is just the beginning of the unemployment crisis in America.

Yes, things are bad now, but soon they will get much worse.

This article first appeared here at the Economic Collapse Blog.  Michael Snyder is a writer, speaker and activist who writes and edits his own blogs The American Dream and Economic Collapse Blog. Follow him on Twitter here.

This article may be re-posted in full with attribution.


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Anonymous said...

The whole "working age" (15-65) thing is incredibly flawed because you can reasonably expect that a huge percentage of the 15-25 population is in high school, university, or some kind of trade school while a substantial number of the 50-65 population may have elected for early retirement due to wise personal investments, substantial savings, or plain and simple received a large inheritance from the deaths of their parents.

Measuring employment rates of the 25-50 age group (generally the "prime" working years) are a far more accurate reflection of the unemployment problem.

Anonymous said...

Wow, the first post clearly shows just how this disaster happens in America. Defending the indefensible. Apologizing for the complete destruction of the nation. Accepting the elitist corruption and nonsense and believing in the American Dream which only exists for those who are asleep. Goodby America, you're finished.

Anonymous said...

Anonymous 6:57 PM - I am going to disagree with you. Many Americans, including the elderly, have seen their investments and savings dwindle away or evaporate quickly. Personally, I don't think there are as many people past 50 that are as well-off as you state. Many continue to work well after 50, 60 and into their 70's and 80's because they NEED to not because they wish to. The stock market crash several years ago wiped out many retirement age individuals retirement funds. Teens are also another demographic that does NEED to be counted as they are an integral cog in many families that rely on them working. Some teens are partly responsible for feeding the family and cannot be discounted. There are also many families that are beginning to band together and pull their money to survive; all work in order to ensure the continuation of the unit.

Many people are not being counted after they fall off welfare and unemployment roles. Many are giving up and look to other means (illegal, black market, under the table) to sustain themselves and their families. Our government is not giving the full picture and they are not giving the correct unemployment rate. Personally, I think it is because they do not wish to set off riots and they want to win the 2014 elections. There is a need to quash the truth right now...

LoriQ Florida

Anonymous said...

You would think the Boy King would focus on job programs instead of all his idiot moves as of late.
Trans fats, salt, sugar, coal, illegals, gay rights..... they're all distractions to what really is dragging this country down.
Buy least we got Obamacare.

Anonymous said...

When the president promised there would be plenty of jobs, he meant government jobs.

Anonymous said...

Obama made us think he was for the average working man/woman. Bull----! He kisses the rears of his banker buddies-all are thieves!

Anonymous said...

The bls defines working age at 16 & up. Not 16-64. Those "unemployed" include retirees.

Anonymous said...

Unemployment is getting much much worse. I have seen it all around me. I have gone from a 50k job down to barely making 17k in less than 17 months. The company I had worked for is now barely hanging on. This country is doing nothing to help Its people. Obamacare will completely strip the middle class bare. You non believers need to wake up. The worst is truley yet to come. But thank God our president is able to take some time off from making our lives poor...I'm sure its absolutely exhausting to have to figure out how to continually stea from us.

Anonymous said...

I read somewhere that the biggest employer in the U.S. was the Federal Gov. and the second largest employer was Walmart and the third largest employer was Kelly temp. Service. Is this true&can someone provide a link.

Anonymous said...

Welcome to the END

Anonymous said...

For five years beginning in 2007, I made out more than 280 job applications for jobs I was more than qualified to fill. Now, these were jobs that had not been exported overseas. The competition for jobs is intense. Why one persons is hired over another is a mystery based on so many factors that are unfair, it is too lengthy a topic for this box. However, in a half dozen situations, I had particular skills that made me perfectly suitable for the work I had applied for that I filed complaints with the EEOC. In every case, the EEOC did nothing, especially if the employer is a large financial contributor to the existing president. So, pay offs and corruption keep the whole stinking system going. I was never able to find employment.

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