December 2013 Jobs Report “Horrific”, “Ugly”; Only 74,000 Jobs Added; Nearly 92 Million Americans Not in the Workforce – Video 1/10/14
“Horrific,” “Ugly” Jobs Report for December 2013.
Here’s the news breaking this morning on MSNBC with the number – just 74,000 jobs created vs. a projected 200,000. Not even close.
These are the worst numbers since 2011. As has become a hallmark of the Obama Economy, the unemployment rate dropped from 7.0% to 6.7% – not because of job creation but because things are SO bad, that many people have just dropped off the workforce entirely – have stopped looking for work – and are therefore not counted.
Zero Hedge has startling graphics on the Labor Force Participation rate – which is now so low it is rivaling the 1978 Jimmy Carter period. We now have nearly 92 million Americans not in the workforce – a dramatic increase since Barack Obama took office.