Unemployment Lower Than Any Time During Reagan
The unemployment rate, now 5.1%, is lower than at any time during the presidency of Ronald Reagan.
That said, the labor-force participation rate has fallen since Reagan’s day. That’s mostly about population aging — there are a lot more retired people now than their used to be — and a little bit about more people being in college, but that doesn’t fully explain it. The labor-force participation rate of “prime aged” men between the ages of 25 and 55 has been steadily declining for decades, and in the past 10 years the participation rate for prime aged women has fallen slightly as well.
Copyright 2015 Liberaland
7 responses to Unemployment Lower Than Any Time During Reagan
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rg9rts September 6th, 2015 at 06:12
This full employment…look it up
KABoink_after_wingnut_hacker September 6th, 2015 at 08:16
I praise President Obama for everything he has done, but have to admit it’s a pretty low bar to compare him to |Reagan who was quite possibly the worst President in my lifetime.
For example:
1. Unlike the extreme recession underway when Obama was inaugurated, Reagan came into office in1981 and unemployment was at 7.5%. After Reagan cut taxes for the wealthy, he began raising taxes on the middle and lower class. Corporations started to ship more jobs out of the U S while hiring cheap foreign labor in order to make a bigger profit.
2. Reagan cut taxes for the Rich & increased taxes on the Middle Class – Reagan raised taxes seven of the eight years he was in office and the tax increases were felt hardest by the lower and middle class.
3. Reagan tripled the National Debt – As Reagan cut taxes for the wealthy, the government was left with less money to spend. When Reagan came into office the national debt was $900 billion, when he left it was $2.8 trillion.
4. Iran/Contra – Reagan secretly sold arms illegally and gave money to Iran. Much of the money that was received from the trade went to fund the Nicaragua Contra rebels, which was again illegal.
5. Reagan funded Terrorists – The same group that attacked the United States on 9/11 was funded by Ronald Reagan in the 1980s.
6. He gave amnesty to 3 million undocumented immigrants – The biggest reason for this was so corporations could hire them at a cheaper rate than they would an American citizen.
7. Reagan raided social security to cover the loss of revenue with his tax cuts for the wealthy (reduced from 70% to 28%) and attacked the middle class and unions.
8. Regan also set the groundwork and began the push to dismantle the Glass-Steagall Act.
Again, kudos to President Obama but there’s no comparison between him and the corrupt Alzheimer’s riddled old man who did so much to destroy America for the middle class.
Tim Coolio September 7th, 2015 at 09:53
Before Reagan we were the world’s biggest
creditor nation, after Reagan we were the
worlds biggest debtor nation,
before Reagan we were the world’s largest
exporter of manufactured goods, after
Reagan we were the world’s largest importer
of manufactured goods, before Reagan we were
the biggest importer of raw materials, after
Reagan we were the biggest exporter of raw
materials-a designation usually given to
undeveloped countries.
StoneyCurtisll September 6th, 2015 at 09:04
But, but, but….
Tim Coolio September 7th, 2015 at 09:49
GOP response: but but but, what about Benghaaaazzzzziiiiiii?
Tim Coolio September 7th, 2015 at 09:52
Whether you are union or non union, reasons to
thank a union on his Labor day:
All breaks at work including lunch breaks
Weekends off on most jobs
Paid vacations
Family medical leave act
Sick leave
Social Secirity
Min. wage laws
Civil rights act
8 hour work days
40 hour work week
Overtime pay
Child labor laws
OSHA occupational safety & health act
Workers comp.
Unemployment ins.
Pensions
Workplace saftey standards and regulations
Employer health care ins.
Collective bargaining rights for employees
Wrongful termination laws
Age discrimination in employment act of 1967
Whistleblower protection laws
Vets employment and training services
Compensation increases and evaluations (raises)
Sexual harassment laws
Americans with disabilities act
Holiday pay
Employer dental life and vision ins.
Privacy rights
Pregnancy and parental leave
Military leave
The right to strike
Equal pay acts
Laws ending sweatshops in the USA
James Redwood September 9th, 2015 at 17:32
Spin it anyway you want but with interest rates at lowest level they are going to go and the chart on page 5 still trending in the direction it is means something does not add up http://www.census.gov/housing/hvs/files/qtr215/currenthvspress.pdf