Friday, March 8, 2013

Is This an Economic "Recovery"?

Everyone is talking about how great the economy is doing now. However, I see that we have a record high number of people "not in the labor force". That's not what an actual recovery looks like.
The number of Americans designated as "not in the labor force" in February was 89,304,000, a record high, up from 89,008,000 in January, according to the Department of Labor. This means that the number of Americans not in the labor force increased 296,000 between January and February.
I don't see how a record high number of people not in the labor force is a sign of a strong economy. In a strong economy (one that produces valuable goods and services) you have people participating. This seems like the opposite.

[h/t to Instapundit]

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