Obamanomics in Action: Labor Participation Rate at 37-year low.
Neither of them is working. From ZeroHedge:
So much for yet another “above consensus” recovery, and what’s worse it is, well, about to get even worse, because while the Fed keeps baning some illusory drum that slack in the economy is almost non-existent, the reality is that in March the number of people who dropped out of the labor force rose by yet another 277K, up 2.1 million in the past year, and has reached a record 93.175 million.
Indicatively, this means that the labor force participation rate dropped once more, from 62.8% to 62.7%, a level seen back in February 1978, even as the BLS reported that the entire labor force actually declined for the second consecutive month, down almost 100K in March to 156,906.
Couple this statistic with the very depressing job numbers released today (126,000 jobs added v. the 245,000 expected) and the painful reality of the stagnant Obama economy is crystal clear.
So, while millions of low-information Americans think everything is just fine because they can go out to dinner, go shopping and otherwise engage in day-to-day life, and her Royal Wideness goes on Jimmy Kimmel’s show to shake her huge ass, Obama and his Marxist millions continue to gleefully “transform” our country, not only by ensuring that we are no longer the world’s lone super power, and enabling our enemies like the terrorist regime in Iran, but also by delivering payback here at home.
Will Obama appear in the Rose Garden to trumpet this latest “success,” or has he already left for the golf course?