Tyler Durden
ZerohedgeFri, 03 Jun 2016 14:30 UTC
So much for that much anticipated rebound in the participation rate. After it had managed to rise for 5 months in a row through March, hitting the highest level in one year, the disenchantment with working has returned, and the labor force participation rate promptly slumped in both April and May, sliding 0.4% in the past two months to 62.60%, just shy of its 35 year low of 62.4% hit last October. This can be seen in the surge of Americans who are no longer in the labor force, who spiked by 664,000 in May,
hitting an all time high of 94.7 million.
As a result of this the US labor force shrank by over 400,000 to 158,466K, down from 158,924K a month ago, and helped the unemployment rate tumble to 4.7%, the lowest level since 2007.Adding the number of unemployed workers to the people not in the labor force,
there are now over 102 million Americans who are either unemployed or no longer looking for work.
Comment: Amazing statistic when one considers the
US population is around 323,931,054 results in almost 30% true unemployment.
At what point does the U.S. economy buckle under the stress of feeding and housing a third or more of their population? If the government decides not to feed and house this growing mass then at what point does this hungry, homeless group take over the homes and food of everyone else?
I don't see Trump helping this situation out in the short term and I cannot see the country surviving long enough to benefit from Trumps promise to return industry and halt military adventurism abroad. Clinton? She is just more of the same and under her the number of jobless at home and the dollars spent abroad will continue to rise until that tipping point is reached.
Looking more and more like a slow motion train wreck every day.