Morici: The New Jobs Program - Convince Them They Don't Need a Job

The economy added 96,000 jobs in August, down from 141 in July and not nearly enough to keep pace with population growth.

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The unemployment rate fell to 8.1 percent only because 581,000 workers quit looking for work and are longer counted in the official jobless tally.

In the weakest recovery since the Great Depression, the entire reduction in unemployment from its 10.0 percent peak in October 2009 has been accomplished through a significant drop in the percentage of adults participating in the labor force—either working or looking for work. 

The most effective jobs program appears to be to convince working-aged adults they don’t need a job. 

Growth slowed to 1.7 percent in the second quarter, as consumers pulled back and the trade deficit on oil and with China continued to drag on demand. The outlook for the second half of the year is not much better. Car sales are stronger than a year ago, but are not likely to improve much further, and housing prices have risen in recent months but on weak volumes.   READ MORE:  http://www.cnbc.com/id/48939391http://www.cnbc.com/id/48939391