Friday, July 3, 2015

93 Million Unemployed?

If so, that is over 25% unemployment rate.
The 157,037,000 who participated in the labor force equaled only 62.6 percent of the 250,663,000 civilian noninstitutional population, the lowest labor force participation rate seen in 38 years. It hasn’t been this low since October 1977 when the participation rate was 62.4 percent. 
I recall 1977.  It was the first year I went to China as a buyer for a small import company.  Plenty of economic problems, but plenty of small businesses exploiting new opportunities, like China opening up after Mao, and hiring people.  not any more...  The last 40 years have been harsh on small business with the hegemon mantra of "get big or get out" and the specific means to that end of mal-credit lending, wiping out the comity upon which a beneficial market was based.

WE have X GDP right now, and it must support those 93 million and answer for all of the claims on it...  that is going to be an ugly fight.  Don't join that fight.... start your own business.

Feel free to forward this by email to three of your friends.