I’d like to know what parallel universe you have to be in for this to make sens.
Via Washington Examiner:
White House Press Secretary Jay Carney explained that the number of people dropping out of the work force, which artificially depresses the unemployment rate, can be regarded as an “economic positive.”
“A large percentage of that is due to younger people getting more education, which in the end is an economic positive,” Carney said. “This increase in the number of people leaving the work force has been a trend and a fact since 2000, because of an aging population, which is not to say this is wholly — that’s not to say that I would wholly disregard as an issue.” Carney had been asked about the 19 million underemployed or unemployed Americans, and about people who had left the work force.
“I think some of those who, I suppose, don’t wish us well politically have tried to make a point about this,” he also said. “The facts are that in these most recent numbers, this is not an issue of people leaving the work force; the numbers are positive across the board.”
The increase in number may be a trend since 2000, but the labor force participation rate rose steadily between 1984 and 2000. While it did drop slightly between 2000 and 2007, an extreme drop off occurred beginning in 2008 – when Obama took the reigns on the economy. Here is a graph from Zerohedge:
And of course, we discussed it here last week. The 1.2 million worker drop off in one month was far and away a record number.
The President continues his record-setting ways, and his Press Secretary spins it as a positive.
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