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All Da King's Men

New 34-Year Low Labor Participation Rate

By David King Published: April 5, 2013

Here we are in year five of the Obama "recovery". I guess that's another word we'll have to redefine in the Obama era, because it no longer means what it used to mean. "Recovery" used to mean, you know, recovery. But now, a "recovery" means high unemployment, rising prices, shrinking wages, and massive deficts and debt. In the age of Obama, recovery looks a lot like disaster.

Given this new definition of the word "recovery"....THE RECOVERY CONTINUES !!!

Job creation slowed to a crawl during March, with the U.S. economy creating just 88,000 positions though the unemployment rate fell to 7.6 percent.

...the drop in the jobless rate was little more than a statistical anomaly, with the labor-force participation rate tumbling to a 34-year low of 63.3 percent. However, a broader measure of unemployment that counts the discouraged and underemployed also fell, declining to 13.8 percent from February's 14.3 percent.

The actual level of employment dropped by 206,000 and the number of Americans considered still in the labor force tumbled by 496,000.

Long-term unemployment remained a problem, with the average duration of unemployment hitting a 2013 high of 37.1 weeks.

Expect the White House to blame anybody except the White House for about the 52nd month in a row. Expect Obama supporters to blame Bush and Republicans for about the 52nd month in a row. Expect anything except a real change for the better, because Obama doesn't know how to lead us to a real change for the better. Obama doesn't know how to bring about real job growth. Why would he ? He never had any experience in that area before we foolishly elected him President, and then even more foolishly re-elected him over a man who DID know something about job creation.

What Obama knows about is creating government dependency and division, and he's done a fine job of that. The only problem is, those are not desirable traits.

Obama supporters keep telling me what a bang-up job their guy is doing in the White House, but what I see is the most prolonged economic slump of my lifetime, one second only to the Great Depression in all of American history. I see a country with even worse economic problems just over the horizon, and a President who won't face those problems. I'm still trying to figure out what about Obama I'm supposed to be celebrating. Or maybe there's another word we must redefine for the Obama era. That word is "success". Maybe these days, "success" looks a lot like "failure".



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