Monday, October 28, 2013
90 Million NOT Looking For Work
Americans not participating in the labor force climbed from 89,957,000 to 90,473,000 from July to August, pushing past 90,000,000 for the first time with a one month increase of 516,000.
The figure climbed again to 90,609,000 in September, an increase of 136,000 during the month.
When President Barack Obama took office in 2009, there were 80,507,000 Americans not in the labor force. The number of Americans not in the labor force has increased by 10,102,000 during the current administration.
The percentage of the civilian non-institutionalized population - i.e., not in prison, jail or sanitarium - over 16 years of age that was employed also remained constant from August to September at 58.6 percent. When President Obama took office in January 2009, the employment-population ratio was 60.6 percent.
Why? One of the chief reasons for the increasing number of people not in the labor force is the aging of the Baby Boom generation, whose members have begun retiring. These workers are not being replaced by an equal number of young people entering the labor force."
I see this is as a sign of the direction we are going. To me this is unsustainable as an economy.
What do you think? Do you think this link explains a possible answer?