Obama’s Unemployment Rate Is 5.9% ~ But 5.9% Of What?: 29% Of U.S. Labor Population Out Of Work And Out Of Labor Force!

unemployment 2014

While by now everyone should know the answer, for those curious why the US unemployment rate just slid once more to a meager 5.9%, the lowest print since the summer of 2008, the answer is the same one we have shown every month since 2010:

the collapse in the labor force participation rate, which in September slid from an already three decade low 62.8% to 62.7% – the lowest in over 36 years, matching the February 1978 lows.

Middle Class America ~ Bamboozled By Obama Bankers!

Middle Class America ~ Bamboozled By Obama Bankers!

And while according to the Household Survey, 232,000 people found jobs, what is more disturbing, is that the people not in the labor force, rose to a new record high, increasing by 315,000 to 92.6 million!

And that’s how you get a fresh cycle low in the unemployment rate.

So the next time Obama asks you if you are “better off now than 6 years ago” show him this chart of employment to the overall population: it speaks louder than the president ever could.

EmploymentTo Population Ratio: 2014

EmploymentTo Population Ratio: 2014

Zero Hedge

Here we go again. The latest jobs report is out — and it’s pure fraud. Fantasy. Bogus. Lies and propaganda passed off as “good news.” The reality is it’s a disaster for America and our middle class.

The “facts” released by our “honest and transparent government” report 248,000 new jobs created, beating expectations by a mile. The “facts” report unemployment dropping to 5.9%, the lowest since 2008.

Obamacare

Obamacare

It’s as if Obama is saying, “If you like your job, you can keep it.”

But you can’t. It’s no more truthful or realistic than, “If you like your insurance, you can keep it.” Same fraud. Same lies. Same propaganda. Same “Banana Republic media” reporting fantasy as truth.

Here’s the nightmare — the real facts about the latest jobs report.

First the reason unemployment dropped to the fantasy level of 5.9% is that 315,000 more Americans dropped out of the Labor Force (in one month).

Where did they go? Most of them dropped off unemployment to get on welfare, food stamps or disability. Many of them waited until reaching age 62 or 65 to join the Social Security rolls.

They just barely hung on until retirement age and will never work again. Where will America get the money to pay for all these welfare, food stamp, disability and Social Security checks? We’re already broke. This just adds to the crushing, unsustainable $18 trillion debt.

This isn’t good news. It’s a disaster.

Adding to the misery, the Labor Force Participation rate just dropped to the lowest in 36 years. There are now 92.6 million working-age Americans not working.

This isn’t good news. It’s a disaster.

Like those late night infomercials say: “But wait. There’s more!”

How can 248,000 new jobs be a good thing if average hourly wages just dropped for only the 6th time since the failure of Lehman Brothers?

The middle class isn’t getting richer, it’s getting poorer. Under Obama we are struggling to survive, we are struggling to pay bills — that’s if we keep our jobs.

This isn’t good news. It’s a disaster.

The bad news is coming in waves. The only people being hired are your grandparents. 230,000 of the new jobs went to those in the 55 to 69 year old age group. In the prime working age group of 24 to 54 years old, 10,000 jobs were lost. Yes, I said lost.

Holy freaking batman! What is happening? It means grandma and grandpa are desperate and willing to take grandson’s low wage job to survive until Social Security kicks in. The U.S. workforce is now the oldest in history. And if grandpa has to work (out of desperation) until the day he dies, there will never be any decent jobs for the grandkids.

This isn’t good news. It’s a disaster.

But I’ve saved the worst news for last. What good is the news of 248,000 new jobs if they are all part-time or low-wage jobs? Four of the five new jobs were in the lowest quality categories.

Obama is creating a nation of desperate, government-dependent minimum wage workers. If you lose your $100,000 job, get ready to clean toilets, flip burgers, mow lawns, or work at The Gap. Because that’s all that’s available among the new jobs.

Welcome to Obama’s America where up is down; where bad news is reported as good news; where old is the new young (because only old people work anymore); where minimum wage is this president’s obsession because minimum wage jobs are the centerpiece of the Obama economy.

This, folks, is an unmitigated disaster. This is the murder of the middle class.

And…

obama jail arrested

This jobs report is pure fraud.

Wayne’s latest book is: “The Murder of the Middle Class.” Wayne Allyn Root is a former Libertarian Vice Presidential nominee, successful entrepreneur, small business defender, business speaker, Capital Evangelist, and media personality – appearing on over 5,000 interviews in the past five years. Wayne’s web site: ROOTforAmerica.com.

TheBlaze contributor channel supports an open discourse on a range of views. The opinions expressed in this channel are solely those of each individual author.

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