The Truth Behind The Unemployment Rate

jobsDid you know that there are nearly 102 million working age Americans that do not have a job right now?  And 20 percent of all families in the United States do not have a single member that is employed.  So how in the world can the government claim that the unemployment rate has “dropped” to “6.3 percent”?  Well, it all comes down to how you define who is “unemployed”.  For example, last month the government moved another 988,000 Americans into the “not in the labor force” category.  According to the government, at this moment there are 9.75 million Americans that are “unemployed” and there are 92.02 million Americans that are “not in the labor force” for a grand total of 101.77 million working age Americans that do not have a job.  Back in April 2000, only 5.48 million Americans were unemployed and only 69.27 million Americans were “not in the labor force” for a grand total of 74.75 million Americans without a job.  That means that the number of working age Americans without a job has risen by 27 million since the year 2000.  Any way that you want to slice that, it is bad news.

Well, what about as a percentage of the population?

Has the percentage of working age Americans that have a job been increasing or decreasing?

As you can see from the chart posted below, the percentage of working age Americans with a job has been in a long-term downward trend.  As the year 2000 began, we were sitting at 64.6 percent.  By the time the great financial crisis of 2008 struck, we were hovering around 63 percent.  During the last recession, we fell dramatically to under 59 percent and we have stayed there ever since…

Employment Population Ratio April 2014

And the numbers behind this chart also show that employment in America did not increase last month.

In March, 58.9 percent of all working age Americans had a job.

In April, 58.9 percent of all working age Americans had a job.

Things are not getting worse (at least for the moment), but things are also definitely not getting better.

The month that Barack Obama entered the White House, we were in the midst of the worst economic downturn since the Great Depression and only 60.6 percent of all working age Americans had a job.

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