Ignore Unemployment Pundits, Low 'Labor-Force Participation' Is The Goal

By John Tamny, Forbes

“The point was not that the ‘unemployed’ could not find work, but that they were not willing to work at the wages they could get in the labour market for the particular work they were able and willing to perform.” Ludwig von Mises, Socialism, p. 439 Back in the early 2000s, hedge fund manager David Thayer was over in Bosnia in the middle of the conflict. 

He was part of the First Troop Philadelphia City Cavalry and saw the desperation up close. Years later Thayer recalled news accounts which said unemployment in Bosnia was in the 75 percent range. 

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Commentary by: Lynn Cheramie, Founder, Freedom Fighters of America

Saying that the reduction in labor force participation is in anyway a good thing assuming that 2 worker households can go to one worker households and make a wage which the entire family can live on is ludicrous.

The National Average Wage as reported by Social Security is as follows:

2006	38,651.41
2007	40,405.48
2008	41,334.97
2009	40,711.61
2010	41,673.83
2011	42,979.61
2012	44,321.67
2013	44,888.16
2014	46,481.52

This is an increase of less than $8,000.00 at the same time the labor force participation went from 66% to 62.7%. If we do some basic math there is no way a 2 working person household can go to a 1 person working household and make enough to even pay a babysitter.

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