OBAMA’S TRUE LEGACY: COLLAPSING LABOR FORCE PARTICIPATION

[1/10/17]  Obama needn’t fret that he will lose his legacy if ObamaCare is repealed. Other than having his name stuck on it, he didn’t do much to impose the Unaffordable Care Act anyway. His true legacy may be the collapsing percentage of Americans who take part in the labor force:

The final jobs report of the Obama presidency, released Friday, shows that the number of Americans not in the labor force has increased by 14,573,000 (18.09 percent) since January 2009, when Obama took office, continuing a long-term trend that began well before Obama was sworn in.

Obama took office in the midst of a severe economic crisis. Regarding labor force participation, he has established this crisis as the new status quo — and it still continues to worsen.

The trend preceding Obama was a result of (1) excessive taxation and steadily accumulating regulation reducing job opportunities, and (2) the growth of the entitlement state, which makes not working a feasible long-term option. Obama has deepened this trend, in part by illegallyundoing welfare reform.

Even those who do not have jobs are counted as part of the labor force, so long as they are actively seeking work. Those not seeking work are not counted in the official unemployment rate, rendering that statistic increasingly meaningless.


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