Our parents and grandparents often look at us young strapping folk and say, “Oh to be young again – life was good then.” Sure, we may be in better health, but the health of our future may be in peril.
The US Labor Department released the latest jobs numbers on Friday, and it looks like our nation still has a bad case of chronic unemployment. While the president and his minions have taken to the airwaves and newspapers to praise their work to lower unemployment to 6.7%, those who have taken a closer look at the December jobs report find concerning trends.
Even though the economy added 74,000 jobs in December, lowering the unemployment rate from 7%, it was the smallest increase since early 2011. The full December jobs report can be accessed here, but the following data tell a grim tale of the real state of our economy.
The labor force participation rate fell to a 36-year low, at 62.8%.
Construction lost 16,000 jobs in December, bringing the total number of construction employment lost to 721,000 since President Obama took office. Apparently “shovel-ready” jobs weren’t effective after all.
Even with the official start of the Affordable Care Act, the health care industry lost 6,000 jobs in December alone.
The number of those who are fortunate enough to have a job, but are forced into part-time positions due to economic reasons increased to 7.8 million Americans.
Continue Reading at GenFringe.com