• The number of people with a job fell by 589,000 last month. • Even worse, the number of people outside of the labor force grew by an astonishing 843,000 in December alone (this number is used to calculate the unemployment rate). • Since the stimulus package was passed in February, the number of people who have moved outside of the labor force has grown by 3.2 million. December's number represents more than a quarter of that number! In fact, the total number of employed persons has fallen by 4 million since the stimulus passed.
• In December 153.059 million were in the labor force, 15.267 million were unemployed and 83.865 million were not in the labor force. This represents a 64.6% participation rate, which is a five-year low -- or 3.073 million jobs below the five-year average. • "Had those 3 million still be in the labor force (and, of course, not employed), the number of unemployed workers would have been 18.340 million, which in turn would result in [a real] unemployment rate of 12%."
• Total [NSA] "insurance claims (consisting of Initial, Continuing and EUC claims) hit another record of 11,268,100".
[Image]Further, as you might expect of the Democrat braintrust of Obama, Pelosi and Reid -- and their plans to centrally plan one-sixth of the economy -- the news gets considerably worse:
With more and more taxes levied upon a smaller and smaller group of taxpayers, the odds that a good portion of the population will "go Galt" are skyrocketing:
• "Financial and economic history shows that the lower rungs on the chain experience hardship first [followed by] an inexorable march up the food chain... [h]owever, in this crisis, the welfare checks, food stamps and unemployment benefits are still rolling so there has not been as much impact, including political angst from this segment."
"The Obama Recovery: more than 50% will pay no federal taxes in '09 -- a John Galt Tipping Point"
6 Comments -
I finally see a hockey stick graph that I believe is accurate.
4:03 PM
American Revolution II is about to begin
Special Election Mass.
Scott Brown (R)
DEFEATS
Martha Coakley (L)
4:11 PM
LOL, you almost had me, until you started on your paranoid tirades. Take your meds, put on your tin-foil hat, and then start blogging.
11:38 PM
The number of people with a job fell by 85,000 last month.
The number you used is not a measure of jobs, its a seperate survey of Unemployment.
You should make an effort to understand what each survey measures and what they mean -- at least if you plan on commenting on them . . .
9:08 PM
All ready gone. (Galt)
1:51 AM
There was this guy who believed very much in true love and decided to take his time to wait for his right girl to appear.
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You may painfully regret, only to realise that it is too late.
1:42 AM