Captain Rick : U.S. Labor Report disappoints those looking for a job and paints a stagnant image of the U.S. Economy as it continues its course toward Socialism.
The Labor Department reported the U.S. economy added only 151,000 jobs in January, well below expectations for 190,000 jobs. The unemployment rate ticked down to 4.9% from 5% the month prior, while forecasts called for it to remain unchanged. Meanwhile, the labor force participation rate rose to 62.7% from 62.6%, despite expectations for it to hold steady. Its all a sign of America headed toward Socialism.
This Labor Report sends a cold chill for the U.S. Economy …
The creation of only 151,000 jobs is very weak considering it is only 0.56 % of U.S. population (323 million). That does not even equal the U.S. population growth rate which is about 0.7% … which means that job growth is not only stagnant, but going in reverse. The U.S. still has not recovered millions of jobs lost during the Great Recession.
The unemployment rate of 4.9% is totally bogus … its meaningless. It only represents the minority of job seekers that are still receiving unemployment compensation. The real unemployment rate is more than twice as high. Most job seekers have exhausted their benefits, still looking for work with no income, are working a part-time job to make ends meet or have given up looking for work.
Perhaps the most important statistic in the labor report is the drop in the Labor Force Participation Rate … to just 62.6%. It means that about 1/3 of eligible U.S. workers are not working. Some retired early and are living off of savings. Some have managed to work the system and are living off of welfare benefits, including many who have managed to acquire ‘Disability’ status and are collecting U.S. Social Security Disability benefits (SSDI) and some who are being supported by friends or relatives and some who are homeless. The Labor Force Participation rate has been in steady decline since its peak of 67.3% in 2000. This trend is a vivid indicator of America’s march toward Socialism.
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