Friday, September 7, 2012

Speaking Of Lost Jobs

By Gary Bauer

The employment figures for August were released this morning. Economists had predicted at least 125,000 new jobs. Some were even suggesting as many as 150,000. But the August number, like the Obama presidency itself, was disappointing -- just 96,000 new jobs were created -- and well short of the 200,000 to 250,000 needed to support a growing, vibrant economy. By the way, the previous job growth figures for June and July were revised downward by 41,000 jobs. 

But that's not even the bad news. According to the report, nearly 370,000 people left the work force. In other words, for every one person who found a job, four people quit looking! The total labor force participation rate is at its lowest level in 30 years. That means fewer people are working and paying taxes to support Obama's ever-expanding government.

By this goofy measurement system, if everyone would just stop looking for work our unemployment rate would drop to zero, and our economy would drop to zero too!