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FBN’s Lou Dobbs on the consequences of Americans’ lack of confidence in the economy.
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-- confidence drives the economy in right now millions of Americans aren't exactly confident that many are simply.
Not expressing confidence in any way -- historically.
One of the ways in which a lack of confidence as expressed is in the birth rate.
Not having children -- listen to that it may be the most important statistic and explaining what is actually happening with our economy.
More important than regulation taxation deficits markets housing believe it or not though they're all related and related to this simple fact.
Our population and the United States right now.
Is growing at -- slowest rate since the Great Depression -- repeat that.
Growing at the slowest rate since the Great Depression.
The United States added just 2.3 million people from 20102.
Point three.
Million people over that period.
From 2010 to 2000 -- prepared.
The two point nine.
Million.
Just five years or -- These are this is a sweeping.
Diminishment and our growth rate and our population.
Part of the reason is our aging population of course people age 65 and older now make up 13%.
65.
And older.
13%.
Of the population.
The total population.
Irving.
-- it's it's striking even as our population sprawl.
13%.
And that has risen from just over 12%.
Twelve years ago.
We're also seeing declining fertility rates are an estimated four million births between 20104.
Million births in this country.
That's down from four point two.
Just the peak of the population growth between 2005.
And -- I mean that's a dramatic decline.
And this year.
The CIA is projecting a fertility rate -- two point zero sick let's round that off.
To 2%.
That is close to sustain.
The rate of two children are -- and considering the replacement rate for any population.
Portugal.
That is higher birth rate than other industrialized nations.
That our in point of fact is you look at these numbers.
They are simply dying they're making it made decisions.
An attitude and a lot a loss of confidence.
Has gripped Russia Cuba but let's just look at some of these these these Russian.
Cuba.
Germany.
Japan of course.
-- All of these nations have -- periphery below replacement while the crisis of confidence is apparent in these country and throughout.
-- -- -- And more discouraged workers are dropping out of the labor force.
Around.
All around the world.
But in this country and particularly last -- the number of people not in our labor force rose -- whopping half million.
-- half million from 87 point eight million to 88 point four million at -- highest on record.
And the reason the unemployment rate fell by eight point 1% last month this because the labor force petition participation rate also dropped to a thirty year law.
This is uninteresting now 64.
Point 3%.
Labor force.
Participation.
And tomorrow we're going to hear about -- non farm payrolls and the unemployment.
And it is we look at that number it's important.
To remember that eight million people -- left the labor force.
Eight million people over the course of the past.
-- -- Meanwhile the percentage of workers between the prime working ages of 25 and 54 who now have jobs 75%.
75%.
At the beginning.
And -- five to 54.
At the beginning of the recession the number was 80% just over 80%.
It's it's as bad as it's been since the great again the Great Recession and all the Labor Department estimating nearly eight million people as -- said.
Out of the workforce since the president took office tomorrow we'll have another important indication about the direction of the economy.
And the possibility of improving conference in employment report.
She's -- Labor Department tells me I should say employment report and I want to can.
Walk from two political correctness here we'll call -- the employment report.
It's expected to show just -- 150000.
Jobs added over the past month if that numbers -- expect more weakness in the market and specifically in commodities.
And above that we can hope and remember that this sobering reality.
The economy actually have to add.
More jobs twice as many jobs as are expected tomorrow it.
370000.
Jobs must be added in order to bring the unemployment rate.
The unemployment rate to 6%.
Which is always been considered full employment in this.
