In today’s Obama legacy news, the number of Americans not in the labor force reaches an all-time high of 95 million.
The Washington Free Beacon reports:
The number of Americans not participating in the labor force hit a new record in November, exceeding 95 million for the first time, according to the latest numbers released by the Bureau of Labor Statistics.In November, there were 95,055,000 Americans not in the labor force, an increase of 446,000 people from the previous month.The bureau counts those not in the labor force as people who do not have a job and did not actively seek one in the past four weeks.The labor force participation rate, which is the percentage of the population that has a job or actively looked for one in the past month, declined from 62.8 percent in October to 62.7 percent in November.
This, in its turn, affects the real unemployment rate; The Washington Free Beacon notes, “the ‘real’ unemployment rate, otherwise known as the U-6 measure, was 9.3 percent in November, which declined from 9.5 percent in the previous month.”
While we haven’t heard much about the real unemployment rate throughout Obama’s presidency, I suspect we’ll be hearing quite a lot about it during President-elect Trump’s presidency.
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