Worst Jobs Report In Nearly 6 Years 102 Million Working Age Americans Do Not Have JobsBy Michael Snyder The funny thing is that the Obama administration says that the unemployment rate actually went down last month. Almost every month since Obama has been in the White House, large numbers of Americans that have been unemployed for a very long time are shifted from the unemployment category to the not in the labor force category. This has resulted in a steadily falling unemployment rate even though the percentage of the population that is actually working has not changed very much at all since the depths of the last recession. The Bureau of Labor Statistics claims that the number of Americans not in the labor force increased by 664,000 from April to May. If you believe that, I have a giant bridge on the west coast that I would like to sell you. The labor force participation rate is now down to 62.6, and it is hovering just above a 38-year low. When you add the number of working age Americans that are officially unemployed (7.4 million) to the number of working age Americans that are considered to be not in the labor force (an all-time record high of 94.7 million), you get a grand total of 102.1 million working age Americans that do not have a job right now. This is not a game. So far in 2016, three members of my own extended family have lost their jobs. According to Challenger, Gray Christmas, layoffs at major firmsare running 24 percent higher up to this point in 2016 than they were during the same time period in 2015. It was only a matter of time before those layoffs started showing up in the official employment numbers, and I fully expect that this trend will accelerate in the months ahead. And here are some other brand new numbers for you to consider Needless to say, the financial community is pretty horrified by all of this news. They were expecting a much better jobs report, and many of them are not hiding their disappointment. Here is one examplefrom the Wall Street Journal This was an unqualified dud of a jobs report, said Curt Long, chief economist at the National Association of Federal Credit Unions, noting the unemployment rate fell, but for the wrong reason as labor force participation declined for the second consecutive month. And here is another example that comes from David Donabedian, the chief investment officer at Atlantic Trust Wealth Management We cant find a positive nugget in todays job report. If we were looking for signs of strength in this report, there is nothing to hang onto here. But of course the mainstream media is doing their best to put a positive spin on these numbers. For instance, CNN just published a laughable article entitled Americas economy is stronger than weak jobs report. And the White House insists that this new employment report really isnt that big of a deal The White House doesnt get too disappointed over the number of unemployed and underemployed Americans. Ive been reacting to jobs numbers here at the White House for more than seven years, and what is true today has been true in the past, which is, we dont get too excited when jobs numbers are better than expected and we dont get too disappointed when jobs numbers one-month are lower than expected, White House Press Secretary Josh Earnest told CNBC. But of course the truth is that it is a really big deal. We just received major confirmation that the U.S. economy has slipped into recession mode. For months, I have been writing about how virtually every other indicator has been screaming that a new economic crisis had already begun. But the employment numbers had remained fairly decent up until now. Employment is typically considered to be a lagging indicator, which means that it isnt one of the first places we would expect to see signs of a recession show up. However, it is inevitable that the official unemployment numbers will reflect an economic downturn eventually, and that is what we are starting to see now. What this means is that you probably have even less time to get prepared for what is ahead than you may have originally thought. The U.S. economy has already entered the early chapters of the next great economic crisis, and most of the population is going to be caught totally off guard and will suffer tremendously. If our leaders had made better decisions since the last crisis, things could have turned out differently. But instead, they continued to conduct business as usual, and now we will reap what they have sown. Michael Snyder is a writer, speaker and activist who writes and edits his own blogs The American Dream and Economic Collapse Blog. Follow him on Twitter here. But yet, Obamas creative math geniuses, give us reports that by their calculations completely contradict this article. This report I think included the thousands of Verizon workers out on strike so may not be as accurate as is depicted here. Doncha just love how the Obama supporters trumpet the 5% unemployment rate like it means anything other than what it means only 5% of Americans now are registering for unemployment insurance. BFD what about the folks who have totally dropped out of the workforce? I guess they are now non-entities and its YOYO time baby! Soalmost 1/3 of the US population is unemployed with more homeless people hitting the unforgiving streets daily as Wall St. has hollowed out eviscerated the American Dreamcause you have to be asleep sleep-walking to still believe in the Mom Pop Apple Pie American Dream.as the Pentagon all their rich piggie military contractor buddies are slurping up untold $$$ Billions$$$ at the taxpayers expensefor Defense WTF! its beyond criminal (imo) Sounds like agenda 2030 is working as planned. 