Labor Market Weak, You Want Four More Years Of The Obama Economy?
Reality check: The economy, as reflected in the labor market, is weak. The economy created 38,000 jobs in May, yet unemployment dropped because 455,000 gave up on the labor force; and of those still in, 468,000 want full-time work but can't locate it.
Our labor participation rate (age 16 and over) is now near a historical low of 62.6%.
And there is more, the shrinking middle class with declining purchasing power and job security, the benefits of middle class life are less attainable than a decade ago. Statistics tell us over the last 15 years, average weekly wages rose at 7.4% in real terms, which is around a .5% yearly increase.
Now take the weak income increases, and pair it with a 60% increase in the cost of medical insurance and double digit property taxes, and you understand we are breaking the back of our middle class with little prospect of improvement under the Obama-Clinton-Sanders economic plan.
Let's hope there is a conservative opportunity to help the middle class and to get our economy going again.