Labor Participation has not been this bad since 1981
March 8, 2013, Fairfax, VA—Americans for Limited Government President Bill Wilson today issued the following statement in response to the latest job numbers:
"Private employers continue to move forward in creating jobs in spite of regulatory headwinds and higher taxes. Incredibly, while the number of jobs created by the private economy continues to grow, the number of people who are abandoning the workplace also continues to accelerate. In February alone, almost 300,000 more workers left the workforce and the percentage of workers in the labor force dropped to its lowest level since 1981 at 63.5 percent.
"It is stunning that in spite of running a consistent trillion dollar plus deficit, with the Federal Reserve propping up the housing sector to the tune of $40 billion a month, that we are still seeing a mass exodus from the workforce by Americans in Obama's economy. In fact, almost twice as many Americans just said no to the Obama economy than got jobs in February. This stark rejection of hope for a better future by so many, stands as a bright red warning sign about our economy's long-term future."
Americans for Limited Government is a non-partisan, nationwide network committed to advancing free market reforms, private property rights and core American liberties. For more information on ALG please call us at 703-383-0880 or visit our website at www.GetLiberty.org.