Americans Not in Labor Force Hits A New Low: Feds Project Zero Growth
March job number hit an all-time low and for the first time since 1978, the number of able-bodied Americans who are not in the workforce has topped 93 million; and now, we all own Jimmy Carter a huge apology for saying that no occupant of the Oval Office could ever be worse than him...
But that's not all. The Fed has also revised the January and February jobs down dramatically from previous estimates and has cut the growth forecast down to ZERO...
(CNS News) The number of Americans 16 years and older who did not participate in the labor force - meaning they neither had a job nor actively sought one in the last four weeks - rose from 92,898,000 in February to 93,175,000 in March, according to data released today by the Bureau of Labor Statistics.
That is the first time the number of Americans out of the labor force has exceeded 93 million.
Also from February to March, the labor force participation rate dropped from 62.8 percent to 62.7 percent, matching a 37-year low.
Five times in the last twelve months, the participation rate has been as low as 62.8 percent; but March’s 62.7 percent, which matches the participation rate seen in September and December of 2014, is the lowest since February of 1978.
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But that's not all. The Fed has also revised the January and February jobs down dramatically from previous estimates and has cut the growth forecast down to ZERO...
(CNS News) The number of Americans 16 years and older who did not participate in the labor force - meaning they neither had a job nor actively sought one in the last four weeks - rose from 92,898,000 in February to 93,175,000 in March, according to data released today by the Bureau of Labor Statistics.
That is the first time the number of Americans out of the labor force has exceeded 93 million.
Also from February to March, the labor force participation rate dropped from 62.8 percent to 62.7 percent, matching a 37-year low.
Five times in the last twelve months, the participation rate has been as low as 62.8 percent; but March’s 62.7 percent, which matches the participation rate seen in September and December of 2014, is the lowest since February of 1978.
Read The Full Story
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