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Economy

‘More Than 100 Million Not in Labor Force for 14th Straight Month; No Job, Not Looking’

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Hiring

On Friday, the Labor Department’s Bureau of Labor Statistics announced something conservatives are not shocked by and liberals are in denial that their policies created. “100,450,000 people in this country were not in the labor force in October, up 38,000 from the 100,412,000 in September. This is the 14th straight month that this ‘not in the labor force’ number has remained above 100,000,000” reports CNS News.

1.3 million persons who are not in the labor force claim they were prevented from looking for work due to the coronavirus pandemic. The number is only down slightly from 1.6 million in September.

“The number of people not in the labor force reached a record high of 103,418,000 in April 2020, as the pandemic took hold; and the highest it’s been under President Joe Biden is 100,708,000 this past February.”

In October, the number of all people 16 and older who were not living in an institution such as a prison nursing home or long-term care facility, was 261,908,000. Of that number, 161,458,000 either had a job or were actively seeking a job during the last month.

“This resulted in a labor force participation rate of 61.6 percent in October, the same as September – and only 0.2 points higher than the 61.4 percent when Biden took office,” writes CNS News.

The Trump-era high of labor force participation reached 63.4 percent in January 2020, just before the global coronavirus pandemic began to rear its ugly head. Since June of 2020, the labor force participation rate has been unable to get past a range of 61.4 percent to61.7 percent since June 2020.

“The Congressional Budget Office has noted that a lower labor force participation rate is associated with lower gross domestic product and lower tax revenues. It is also associated with larger federal outlays, because people who are not in the labor force are more likely to enroll in federal benefit programs, including Social Security” reports CNS.

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2 Comments

2 Comments

  1. Jeff L

    November 6, 2021 at 7:37 pm

    nnouncing what he admits to knowing and chose to not just simply announce what he knew and ask for social distancing With the recommendation of masks. He chose to make a necessary inconvenience for the greater good and infringement to polarize and make a problem where there wasn’t one and tout himself the only one to save them from tyranny.He could have done it without mandate right then. Enacted the war powers act or whatever it is giving the President power to take a an industry temp over in time of national crisis. Told every lab in the nation to work 24/7 to come up with a uniform test and we wouldn’t have to be be reading articles like this right now. A lot more people would be alive and this nation would be in a lot better place. He fired the people recommending that to him. I called the CDC,NIH and the WH with the same recommendation. He admits this in the Woodward tapes. The inevitable was beginning to occur. Our global financial system is about to hit a liquidity tidal wave except it’s going to be in the form of a drought. It doesn’t matte who is in office. The wheels of this were set in motion on 1933. It’s just been a matter of time. The system of Centralized Banking and Debt based Fiat hasn’t worked for more than roughly + or – a 100 years for any society that’s employed it for 2 millennia.And it’s been incorporated several times Rome being a good example. So why don’t you do the world a real service and do a piece on the true cause of what’s First off just because that many people aren’t in the recognized work force doesn’t mean anything on it’s own. I can count at least a dozen people I know that have decided to go into business on their own. That is not reflected in the numbers you tout. Second off the benefits you reference pertaining to unemployment are not going up nationwide. They are declining last time I looked. The report for unemployment claims the 1st quarter of 2020 were going up and the GDP was beginning to drop. the Pandemic was saving grace for Trump.Not only did it hide what was about to happen and be made worse with him at the helm. He saw an opportunity to take things like a mask and instead of just ahappening right now and quit playing bullshit politics so that people can recognize it instead of stoking bullshit that will do nothing to address the true nature of the beast! You want something to tag them with? I’ve got a Pulitzer story for you! And everyone is afraid to touch it. I’m dead ass serious! You want it? Contact me at jefflawson@bellsouth.net.There was something in that infrastructure bill that is about to have several million declare war on every legislator and department head that are responsible for including it. If you have someone other than Trump or is a die hard Trump cult follower. They will benefit greatly from listening to us. The community has $3trilllion behind it. They are about to find out what Gensler, Clayton, Hinman and Lubin have recently discovered when you use a cowards tactics and attack those that are actually trying to help the world. All we asked for was to just listen to us and give us a level playing field. Now it’s our turn.

  2. BlueBoomerang

    November 7, 2021 at 10:55 am

    You pay people not to work then you declare a moratorium on rent, blame if all on COVID and you wonder why people don’t want to do anything? However, they voted Democrat, didn’t they? Whatever you subsidize dies. It’s been that why since LBJ’s Great Society Program in the mid 1960’s. He gave birth to the modern ‘welfare state’.

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Economy

Biden Calls On FTC To Investigate Oil Companies Over Rising Gas Prices

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Gas Prices

President Biden has called on the Federal Trade Commission to investigate oil and gas companies over rising fuel prices, suggesting that the companies may be engaging in illegal conduct that results in the rising prices – despite Biden consistently enacting policies that restrict the domestic production of oil since entering office.

“I am writing to call your attention to mounting evidence of anti-consumer behavior by oil and gas companies,” the letter said. “The bottom line is this: gasoline prices at the pump remain high, even though oil and gas companies’ costs are declining. The Federal Trade Commission has authority to consider whether illegal conduct is costing families at the pump. I believe you should do so immediately.”

The letter added, “prices at the pump have continued to rise, even as refined fuel costs go down and industry profits go up. Usually, prices at the pump correspond to movements in the price of unfinished gasoline, which is the main ingredient in the gas people buy at the gas station. But in the last month, the price of unfinished gasoline is down more than 5 percent while gas prices at the pump are up 3 percent in that same period. This unexplained large gap between the price of unfinished gasoline and the average price at the pump is well above the pre-pandemic average. Meanwhile, the largest oil and gas companies in America are generating significant profits off higher energy prices.”

Gas prices have reached their highest level since 2014, and are currently about 50% higher than they were when Biden entered office.

“U.S. gasoline prices in October averaged $3.38 per gallon while U.S. oil prices averaged $81.48 per barrel, according to the U.S. Energy Information Administration,” the Wall Street Journal reported. “The last time U.S. gas prices reached similar levels in October 2014—$3.25 per gallon—U.S. oil prices were $81.40 per barrel. U.S. oil production sharply increased since last year to about 11.5 million barrels per day, according to the EIA, but is still well below pre-pandemic levels of around 13 million barrels per day.”

The letter comes after the Biden administration confirmed that it is considering shutting down an oil pipeline in Michigan, which would place further pressure on fuel prices to rise.

“Revoking the permits for the [Line 5] pipeline that delivers oil from western Canada across Wisconsin, the Great Lakes and Michigan and into Ontario, would please environmentalists who have urged the White House to block fossil fuel infrastructure, but it would aggravate a rift with Canada and could exacerbate a spike in energy prices that Republicans are already using as a political weapon,” Politico Pro reported. “Killing a pipeline while U.S. gasoline prices are the highest in years could be political poison for Biden, who has seen his approval rating crash in recent months.”

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Economy

Thanksgiving Dinner Will Be 14% More Expensive This Year

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Thanksgiving

As President Biden’s inflation crisis continues to worsen, the average cost of a Thanksgiving dinner will be 14% more this year than last year, according to the Farm Bureau.

The Farm Bureau noted, “The average cost of this year’s classic Thanksgiving feast for 10 is $53.31 or less than $6.00 per person. This is a $6.41 or 14% increase from last year’s average of $46.90. The centerpiece on most Thanksgiving tables – the turkey – costs more than last year, at $23.99 for a 16-pound bird. That’s roughly $1.50 per pound, up 24% from last year.”

Farm Bureau used ‘volunteer shoppers’ to check the prices from Oct. 26 to Nov. 8, about two weeks before most grocery store chains started lowering the price of whole frozen turkeys.

“Several factors contributed to the increase in average cost of this year’s Thanksgiving dinner,” AFBF Senior Economist Veronica Nigh explained. “These include dramatic disruptions to the U.S. economy and supply chains over the last 20 months; inflationary pressure throughout the economy; difficulty in predicting demand during the COVID-19 pandemic and high global demand for food, particularly meat… The trend of consumers cooking and eating at home more often due to the pandemic led to increased supermarket demand and higher retail food prices in 2020 and 2021, compared to pre-pandemic prices in 2019.”

According to the Department of Labor, U.S. inflation has hit its highest annual rate in more than 30 years in October. The consumer price index, a key inflation metric, increased 6.2% from October 2020 to October 2021, the fastest annual rate since 1990. In the month of October alone, inflation surged 0.9% compared to the 0.6% economists expected, according to CNBC.

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