Job Statistics Harken Back to the Era of Jimmy Carter

What would be the expected results of repeatedly extending unemployment benefits and rewarding joblessness? The Obama Administration's own Labor Department provided the answer Friday when it reported work force participation statistics for April. It seems that the number of people NOT in the U.S. labor force rose by 522,000 in April from 87,897,000 to 88,419,000. This is the highest count of non-working Americans ever recorded. (see graph below)

In case you suspect this number was taken out of context consider that in the same report it was noted that the labor force participation rate dipped to a new 30 year low of 64.3%. Not since the days of one-term president Jimmy Carter has the U.S. economy performed so dismally. (see graph below)

Job Statistics Harken Back to the Era of Jimmy Carter