Record 90,473,000 Not in Labor Force…So that would put the unemployment rate at what %? Post’s Say from 35% to 40%!!! WTF?
(CNSNews.com) – The number of Americans who are 16 years or older and who have decided not to participate in the nation’s labor force has pushed past 90,000,000 for the first time, according to data released today by the Bureau of Labor Statistics.
The BLS counts a person as participating in the labor force if they are 16 years or older and either have a job or have actively sought a job in the last four weeks. A person is not participating in the labor force if they are 16 or older and have not sought a job in the last four weeks.
In July, according to BLS, 89,957,000 Americans did not participate in the labor force. In August, that climbed to 90,473,000–a one month increase of 516,000.
Our government tell us the unemployment rate is only at 7.3%, down 0.5% from 7.8%.
If there are 350 million Americans in this country and 90.4 million of them are unemployed, what is the percentage of unemployed in America according to these numbers?
Civilian nonistitutional population = 245,959,000
Labor force = 155,486,000
Employed = 144,170,000
Unemployed = 11,316,000
Not in labor force = 245,959,000 – 155,486,000 = 90,473,000
Now if add the “not in labor force” to unemployed:
Unemployed = 11,316,000 + 90,473,000 = 101,789,000
Then unemployment rate is:
Unemployment rate = 101,789,000/245,959,000 = 41.13845%
Jobs Report Confirms QE Isn’t The Only Thing Not Working
El Quisqueyano80 views