Has it been three glorious and prosperous years already? It seems like only yesterday the “Reinvestment and Recovery Act” was a gleam in Sheriff Joe Biden’s eye.
Here’s a graph on how awsomely well the stimulus has performed so far in increasing the size of the US labor force (click the pic to Viagratize):
Impressive, huh? But come on, what do you expect for only a trillion dollars?
The percentage of Americans in the work force has declined, so those people who have given up looking for work don’t count towards the unemployment rate (if you count them as well as people working part time who would rather work full time, the real unemployment rate is 15%, according to the CBO). That allows Team Obama to present the illusion that the economy is actually turning the corner. But if that were indeed the case, people would be entering the workforce, not exiting it.
People who have given up looking for work not being counted as “unemployed” means that the only practical way to get the unemployment rate to zero would be for all Americans to lose their jobs and not look for another. People who have given up looking for work should be counted in the unemployment stats, if for no other reason than to take away some self-serving politician’s incentive to make sure they stay that way.