The civilian labor force in September clocked in at 156,715,000, declining by 350,000 people, compared to August’s 157,065,000 labor force level.
But not to worry, according to a new report by the US Atlanta Federal Reserve Bank:
The decrease in labor force participation among prime-age individuals has been driven mostly by the share who say they currently don't want a job.In reality, contrary to soothing bankerspeak, most able-bodied people really do want to earn a living, but an increasing proportion in the West cannot do so because, in this era of offshoring of jobs to Asian sweatshops, their labor is worth less than the minimum wage. To that problem, there are two possible solutions:
One is to eliminate the minimum wage while instituting a negative income tax that insures that the lowest paid worker receives a living wage, an option I discussed here.
The other, if the minimum wage is retained, is for governments to sell job subsidies to employers by competitive auction, as I outlined here.
That no Western state seriously considers either option suggests that, in the enlightened liberal West, governments would prefer the underclass to be underground, dying prematurely due to drug addiction, malnutrition, or criminal violence, with their posterity slaughtered at birth or before, their body parts sold to the highest bidder to keep rich old hypocrites like George Soros the Nazi Jew alive for ever.
As boys of UK Prime Minister David Cameron's old school, Eton, determined in a debating society motion during the 1930's: The Faces of the Poor Should be Ground, a motion that was passed with the amendment that "The Faces of the Poor Should be Underground." As the most privileged youth of England spoke then, so also do all of today's Western elites.
Paul Theroux: The Hypocrisy of ‘Helping’ the Poor