But if you dig deeper into the numbers you quickly see that this is not true. A lot of those workers that were formerly classified as "unemployed" have now been moved into the "not in labor force" category. Since the start of the last recession, the number of Americans not in the labor force has risen by more than 8 million according to the Obama administration. The total number of working age Americans not in the labor force now stands at 87,897,000....
So when you add 12,673,000 and 87,897,000, you get a total of 100,570,000 working age Americans that do not have jobs.
Yes, there are certainly millions upon millions of working age Americans that do not have jobs and that do not want jobs.
But you have to be delusional to believe that there are nearly 88 million working age Americans that do not have jobs and that do not want jobs.
... U.S. workers are at a massive competitive disadvantage. Why should a big corporation pay 10 or 20 times more for an American worker when they can pad their profits by exploiting cheap foreign labor?
The sad truth is that the value that the marketplace puts on the labor of the average American worker is continually decreasing.
This is making it much more difficult to find a job and it is keeping wages down.
In the old days, pretty much any man that was a hard worker and that really wanted a good job could go out and get one.
But now all of that has changed. Back in 1950, more than 80 percentof all men in the United States had jobs. Today, less than 65 percentof all men in the United States have jobs.
And sadly, the vast majority of the jobs that are being lost are good jobs. As I wrote about the other day, 95 percent of the jobs lost during the recession were middle class jobs.
So how are middle class families making it these days?
Many of them are going into tremendous amounts of debt. As a recentCNN article detailed, the average debt load being carried by those of us in the bottom 95 percent of all income earners has risen dramatically over the past several decades....
In 1983, the bottom 95% had 62 cents of debt for every dollar they earned, according to research by two International Monetary Fund economists. But by 2007, the ratio had soared to $1.48 of debt for every $1 in earnings.
Unfortunately, many American families are absolutely maxed out at this point. According to one recent survey, approximately one-third of all Americans are currently paying their bills late.
If your goal is to live a middle class lifestyle, you need to realize that the entire way that the game is being played is changing.
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