While the Obama administration recently announced that the nation's unemployment rate for August dipped to 7.3 percent, another 312,000 Americans left the labor force last month, thus skewing the official unemployment number.
In fact, the current labor participation rate is listed at only 63.2 percent, according to the Bureau of Labor Statistics.
That is the lowest that number has been in 35 years.
Not surprisingly, that bit of information received precious little media coverage.
The sad fact is the official unemployment number is only dropping because millions of Americans have either simply given up looking for work, or they have been without work for so long that their unemployment benefits have run out and are no longer factored into the official figure.
Additionally, nearly 10 million Americans have left the labor pool since Obama took office.
As if those sobering facts were not bad enough, here's one more...Only about half the nation's workers have full time jobs.
In July, Breitbart reported:
Of the 144 million Americans employed last month, only 116 million were working full-time. Friday's report showed that 58.7% of the civilian adult population of 245 million was working last month. Only 47% of Americans, however, had a full-time job.
Of course, many companies have been shedding full-time positions, in favor of the part-time variety in an effort to avoid the ruinous taxes and penalty fees associated with Obamacare.
Fox News recently reported on one such looming penalty...
Beginning Oct. 1, any business with at least one employee and $500,000 in annual revenue must notify all employees by letter about the Affordable Care Act’s health-care exchanges, or face up to a $100-per-day fine. The requirement applies to any business regulated under the Fair Labor Standards Act, regardless of size.
Thanks to Obama and the Democrats who passed that most unpopular measure, companies both large and small are laying off large percentages of their labor force or simply outsourcing their production to other countries altogether.
The following is a list of just a few of the layoffs announced in September alone:
-Blackberry (4,500 jobs)
-Wells Fargo & Co. (1,800 jobs)
-American Airlines (400 jobs)
-James River Coal Co. (525 jobs)
-Indiana University Health (800 jobs)
-Furniture Brands International (1,451 jobs)
-Navistar International Corp. (500 jobs)
-Boeing (300 jobs)
-Citigroup (2,200 jobs)
-Aviva USA (326 jobs)
-Trump Entertainment Resorts (200 jobs)
-Itron Inc. (750 jobs)
-Savannah River Remediation (465 jobs)
-Bank of America (2,100 jobs)
-National Public Radio (80 jobs)
-U.S. Security Associates (352 jobs)
-Sun Trust Bank (100 jobs)
-Vidant Health Systems (100 jobs)