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16 million Americans have dropped out of the labor force in the last 10 years

The growth of long-term unemployment, low wage labor, and distorted employment figures.

from MyBudget360.com:

The unemployment rate is looking much better than it should because we have a very large number of Americans that have dropped out of the labor force. How many? In the last 10 years 16.2 million Americans have dropped out of the labor force. The total number of Americans not in the labor force is over 92 million. What is more surprising is that most of the jump in the last 10 years occurred once the recession was labeled as being officially over. When you eliminate counting a large pool of your population, it is easy to understand why the unemployment rate appears to be so low. However the nation is largely shifting to one of low wage labor. Corporate profits are being bolstered by massive slack in the employment markets and the shifting of benefits from corporations to employees. This has been incredibly difficult for middle class families that are witnessing inflation and their purchasing power decline. It might be useful to examine where our employment situation now sits given that we are now half a decade into this so-called recovery.

Read More @ MyBudget360.com

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3 comments to 16 million Americans have dropped out of the labor force in the last 10 years

  • Eric

    Why do they call it the labor force? Shouldn’t it be the forced labor?

  • Scott

    I’m one who has dropped out. Five years ago at 50 years old the company I worked for went under. I was out of a $60k a year job. I tried to find a job for a year and couldn’t get anything but entry-level, low pay so I quit and created my own endeavor. I paid the penalties and withdrew what I had in my IRAs. I then paid cash for a half dozen blue-collar type rental properties and now spend my time managing those….and have replaced my 60k per year income. Fuck the system. I quit.

    • Eric

      Good for you Scott. I did something similar. The people I worked for turned into greedy assholes and I quit. Cashed out the IRA’s, secured my wealth, eliminated the fear and stress. Spent 5 years finding a much better way of doing almost everything. Glad I don’t watch that cnbc bs anymore. What a load of crap!

      Everyone has free will. You have the power to change things for the better.

      The Sirian (from Sirius) motto is…. There is a better way.

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