Donald Trump called Friday’s jobs report “terrible” and a “disaster,” even though unemployment fell and job gains were solid.
One of his big criticisms on Friday: “Over 14 million have left the workforce since Obama came into office, bringing the total not working to 94 million.”
If the unemployment rate is so low at 4.9% can it be that there are 94 million Americans not working?
Short answer is, Yes, but it’s not nearly as bad as it sounds. To see how it all breaks down, CNNMoney got the numbers for the most recent quarter from the Atlanta Federal Reserve.
All Americans 16 years old and up: 253.9 million
Americans in the labor force with a job: 152.1 million
Americans in the labor force without a job: 8.0 million
That leaves 93.8 million Americans not in the labor force. But a lot of them are not in the labor force for understandable reasons.
44.0 million are retired.
15.3 million are disabled.
13.3 million are taking care of a family member.
13.2 million are in college or job training.
So: of the 93.8 million Americans not working, 85.8 million are retired, disabled, taking care of a loved one, or in school.
That leaves 8 million people – what about them?
5.9 million Americans have looked for a job in the past year OR want a job but have given up searching for over a year.
2.1 million Americans are in the shadows. We don’t know why they are not in the work force.