US Action News

“Illinois has 380,000 fewer people employed now than before the recession. According to the Bureau of Labor Statistics, unemployment is still up by nearly 200,000 people, and at least 185,000 people have given up and left the labor force.”

“At just 63.5 percent, participation in the labor force remains very low by historical standards and below last year’s average of 63.7 percent.”

Current participation at its lowest level in almost 35 years.

“That’s a kind of ugly secret of the American labor market,” [] “Part of the reason our unemployment rates have been low, until recently, is that a lot of people who would have trouble finding jobs are on a different program.”

Perhaps a lowering participation rate in the job market is good news for a government whose primary mission is to feed, clothe and medically treat us, and to gain power over people through doing so.

There is not a chance in hell that younger workers are going to prosper looking at this chart. As a result, future tax revenues will be less than planned. The economy will lag well below potential. – Bruce Kasting

As Fed’s two previous QE’s have demonstrated, due to the structure of current global banking and financial system, QE has only mostly benefited banks to hoard cheap capital from the government to speculate in commodities and stocks to get better returns, rather than circulating and lending to business and consumers like banks are supposed to.

Obama said if he doesn’t get it done in three years it’s going to be a one term presidency. We’d all be better off if he resigned now. We can’t stand much more of his “jobs focus.” Can we afford four more years of economic suicide?

195,000 fewer Americans were working in July than in June. But somehow that works out to “163,000 new jobs” in July.

Were it not for people dropping out of the labor force, the unemployment rate would be well over 11%.