Wouldn’t it be horrible if the number of Americans without a job was higher today than it was during the Great Recession of 2008 and 2009? Well, that is actually true.
As you will see below, nearly 102 million Americans do not have a job right now, and at no point during the last recession did that number ever surpass the 100 million mark. Of course the U.S. population has grown a bit over the last decade, but as you will see below, the percentage of the population that is engaged in the labor force is only slightly above the depressingly low levels from the last recession. Sadly, the truth is that the rosy employment statistics that you are getting from the mainstream media are manufactured using smoke and mirrors, and by the time you are done reading this article you will understand what is really going on.
Before we dig into the long-term trends, let’s talk about what we just learned.
Initial claims for state unemployment benefits jumped 37,000 to a seasonally adjusted 230,000 for the week ended April 20, the Labor Department said on Thursday. The increase was the largest since early September 2017.
And considering all of the other troubling economic signs that we have been witnessing lately, this makes perfect sense.
In addition, we need to remember that over the last decade lawmakers across the country have made it more difficult to apply for unemployment benefits and have reduced the amount of time that unemployed workers can receive them. In reality, the unemployment situation in this nation is far worse than the mainstream media is telling us.
When a working age American does not have a job, the federal number crunchers put them into one of two different categories. Either they are categorized as “unemployed” or they are categorized as “not in the labor force”.
But you have to add both of those categories together to get the total number of Americans that are not working.