Obama’s Dismal Record on Jobs, Captured in a Single Chart and Explained with Common Sense

Obama’s Dismal Record on Jobs, Captured in a Single Chart and Explained with Common Sense
January 16, 2013 12:53PM
ByDaniel J. Mitchell

Economists may not agree on much, but we all agree that economic output is a function of capital and labor. Ask a Keynesian, a Marxist, an Austrian, a monetarist, or any economist, and they’ll all agree that living standards are determined by the quality and quantity of these two factors of production.

So it should be very worrisome that there has been a big drop in the share of the population that is employed. Here’s a chart produced from Bureau of Labor Statistics data, showing labor force participation during the 21st Century.

https://www.cato.org/blog/obamas-dismal-record-jobs-captured-single-chart-explained-common-sense