Record 94,708,000 Americans Not in Labor Force; Participation Rate Drops in May

[Geee]

CNS News:

(CNSNews.com) - A record 94,708,000 Americans were not in the labor force in May -- 664,000 more than in April -- and the labor force participation rate dropped two-tenths of a point to 62.6 percent, near its 38-year low, the Labor Department's Bureau of Labor Statistics reported on Friday.

 

When President Obama took office in January 2009, 80,529,000 Americans were not participating in the labor force; since then, 14,179,000 Americans have left the workforce -- some of them retiring and some just quitting because they can't find work.

 

"By almost every economic measure, America is better off than when I came here at the beginning of my presidency," President Obama told the people of Elkhart, Indiana three days ago. "We cut unemployment in half, years before a lot of economists thought we would."

 

The unemployment rate in May dropped to 4.7 percent, BLS reported, less than half of its Obama-era high of 10 percent in October 2009.

 

But the labor force participation rate has deteriorated over Obama's two terms.

[Geee]

Last ‘Recession’ Ended 7 Years Ago This Month

 

CNSNews.com) - The last recession to hit the United States—the longest of any in the post-World War II period--ended seven years ago this month, according to the dates assigned to it by the National Bureau of Economic Research.

 

The NBER announced the date it had assigned to the end of the last recession in a report released Sept. 20, 2010.

 

In 2009, real GDP in the United States declined by 2.8 percent, according to the Bureau of Economic Analysis. Since 2009, according to BEA, real GDP has never grown by more than 2.5 percent, the level it hit in 2010. In the first quarter of this year, it grew at an annual rate of 0.8 percent.

 

The last year that real GDP grew by more than 3 percent, according to the BEA, was 2005, when it hit 3.3 percent. The last time that real GDP grew by more than 4 percent was 2000, when it hit 4.1 percent.

http://cnsnews.com/news/article/terence-p-jeffrey/last-recession-ended-7-years-ago-month

[Geee]

The Key Economic Facts Obama’s Recovery Narrative Ignores

 

President Barack Obama took an economic victory lap in Elkhart, Indiana, on Wednesday.

 

In a major speech he argued his policies have brought the economy back. He blamed remaining economic weaknesses on trends preceding his administration.

 

This analysis has the economic facts precisely backwards: Economic growth benefitted Americans up and down the income distribution until the Great Recession. Since then, Americans have struggled considerably.

 

Obama argued his policies have brought the economy back. While labor market conditions have certainly improved from the depths of the recession—the official unemployment rate has even returned to pre-recession levels—these numbers do not tell the whole story.

 

http://dailysignal.com/2016/06/02/the-key-economic-facts-obamas-recovery-narrative-ignores/

[Draggingtree]

Gallup Poll: Satisfaction Under Obama Is Lowest Since Carter

Posted by Leslie Eastman June 11, 2016 at 10:30am

 

I can’t believe it’s that high!

 

Last week, I noticed the elite media actually looking under the hood at the real “new jobs” numbers for the first time in over 7 years.

 

Now, Gallup has released a poll confirming the fears that many of us had in 2008: Obama was the second coming of Jimmy Carter.

 

According to Gallup, Americans’ satisfaction levels with the way things are going in the U.S. are low and President Obama will be leaving office with a lower overall satisfaction average of any president since Jimmy Carter.

 

Only 29% of Americans are satisfied with the way things are going in the U.S. according to the Gallup poll conducted during the first week of June.

 

The Gallup poll asked, “In general, are you satisfied or dissatisfied with the way things are going in the United States at this time?”

http://legalinsurrection.com/2016/06/gallup-poll-satisfaction-under-obama-is-lowest-since-carter/