Many of you reading this blog have jobs. Probably many of you work for companies that have many employees. For those of you who fit this description, imagine four of your co-workers. Now, for you and those four coworkers, imagine one jobless man ranging anywhere in age from 25 to 54. Now for every other group of five workers in your workplace imagine another jobless man in the prime of his life.
That’s current American reality.
According to the Weekly Standard Republicans on the Senate Budget Committee claim:
There are currently 61.1 million American men in their prime working years, age 25–54. A staggering 1 in 8 such men are not in the labor force at all, meaning they are neither working nor looking for work. This is an all-time high dating back to when records were first kept in 1955. An additional 2.9 million men are in the labor force but not employed (i.e., they would work if they could find a job). A total of 10.2 million individuals in this cohort, therefore, are not holding jobs in the U.S. economy today. There are also nearly 3 million more men in this age group not working today than there were before the recession began.
Adding together those who are not in the labor force at all and those who can’t find work, you find that one in six has no job. For every five working people in their prime years there is one who is not working.
Although defenders of the current economy attribute shrinking labor force participation to the increasing pace of retirement of the Baby Boomer generation, these new statistics above confirm a trend that Barron’s recently diagnosed: “The ratio of those over 55 in the workforce actually ticked up”—in other words, older Americans are being forced to return to work in a poor economy to make ends meet while many younger Americans simply aren’t working at all. In short, there is an unprecedented supply of working-age Americans who do not hold jobs.
Welcome to the Obama economy and the blind media cover-up. Meanwhile, the Democrats actually want to make the ratio even worse by raising the minimum wage.