For men 20 and over, the labor participation rate has fallen from 75.2 percent when Obama took office to 73.2 percent today. For women 20 and over, it went from 60.4 percent to 58.4 percent today. College graduates can barely snag a job as a barista, so why bother?
The Obama recovery, if you can even call it that, has been one long period of young people simply giving up on finding a job in the first place.
The outlook for the economy expanding isn’t getting any brighter either. The Wells Fargo/Gallup small-business survey released Thursday found that small businesses expected to shed on average four jobs over the next year. This was the worst the survey had seen since the depths of the recession in 2008 and ’09.