Unemployment: Numbers That Don’t Add Up

According to Breitbart, the number of people who are NOT in the labor force reached yet another record high in July, this according to the Bureau of Labor Statistics.

The BLS now reports that 93,770,000 people aged 16 and older were out of the work force, neither employed nor had made specific efforts to actually find work in the prior four weeks.

That number was an increase over June. The July increased 144,000 over June’s record when 93,626,000 were really, truly out of work..

So, July’s labor force participation rate however remained the same as June at 62.6%. That would logically mean that 37.4% of the labor force is unemployed, not a mere 5.3 % that the government foils would have you cheer about. Before last month the labor force participation rate had not been that low since October 1977, when the participation rate was 62.4 percent…hm…Jimmy Carter years – high prices, gas rationing, hostages in Iran, sinking economy. No, not similar at all.

Read all about it here.

While the labor participation rate remains at the lowest its been since the late 1970s, the BLS highlighted that the unemployment rate remained at 5.3 percent and nonfarm payroll jobs increased by 215,000. And if you believe that, we have a bridge in Brooklyn to sell you.