Friday, January 10, 2014

For Every One Job Added, Nearly 5 People Left the Workforce | The Weekly Standard

For Every One Job Added, Nearly 5 People Left the Workforce | The Weekly Standard

Senator Jeff Sessions has the grim facts:
Today’s jobs report underscores a deeper problem facing our economy: a large and growing block of people who are chronically jobless and completely outside the workforce. In December, the economy added only 74,000 jobs – not nearly enough to keep up with population growth –and 347,000 left the workforce. That means for every one job added, nearly 5 people left the workforce entirely. There are now nearly 92 million Americans outside the workforce, resulting in the lowest participation rate in 36 years.
And remember that 36 years ago, many more wives stayed at home and took care of their household.