In truly discouraging news, the labor force grew at a rate less than normal population growth. Adding a meager 115,000 jobs in April in contrast with about 130,000 new eligible workers joining the labor force each month seems to fit Mr. Obama’s grand scheme. Some 522,000 discouraged workers gave up any hope of finding a job, dropping the labor participation rate to 64.3%, the lowest in history!
Give the President credit, he’s executing his plan nearly flawlessly: Create an economy so dismal, so pedestrian, so European, that government benefits, government jobs and mind-numbing union “employment” is the only safety-net, the only viable option; a socialist utopia in which government is not an option, it is the option.
Wait! Don’t give him credit – we tried that!