Today we received the latest jobs figures from the Department of Labor. On the surface, it seems as though our economy is on the right track with the unemployment rate dropping to 7.7% and 236,000 jobs added in February. But that isn't really the whole story, is it?
- According to CNSNews, the number of Americans designated as "not in the labor force" in February was 89,304,000, a record high, up from 89,008,000 in January, according to the Department of Labor. This means that the number of Americans not in the labor force increased 296,000 between January and February.
- The fact is that the labor participation rate in our country remains at a record low 63.5%. Just to put that into perspective, when Barack Obama took office, the labor participation rate was 65.7%.
- The U6 unemployment rate, which measures those who are unemployed and underemployed, is 14.3%.
- The jobs that are being added to our economy are part-time, rather than full-time jobs. According to the Household Survey, the number of full-time jobs declined by 77,000 from 115,918 to 115,841, while the number of part-time workers rose from 27,467 to 27,569, or 102,000 jobs.
- The number of Americans out of work for more than 27 weeks rose in February by 89,000, going from 4.7 million to 4.8 million.
I doubt that many in the lapdog Obama-mania media will report these figures, but they paint a more accurate picture of what is really going on in America. Americans are still struggling, especially after enduring the biggest decline in personal income in 20 years. Our economy isn't growing, workers are finding part-time work instead of full-time careers, costs for healthcare are sky-rocketing and yet our own President Panic throws a temper-tantrum when his bloated $3.7 trillion federal government is asked to trim just $44 billion.