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By US Employment Report
Investment Watch
Sunday, Sep 8, 2013
Excerpt:
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?
Official 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 we 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
Data Source: Bureau of Labor Statistics
Source of Article: Investment Watch
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