Peter Schiff Warns : Almost 1 Million Americans left the labor force in one month

"In April, almost a million Americans left the labor force in one month. I think that's the largest exodus from the labor force since they began keeping the statistics," economist Peter Schiff says, adding that he doesn't believe 280,000 jobs were created.
"Better than 80 percent of them potentially were just made up by the government because over 240,000 of the jobs were the result of the birth-death assumptions where the government simply assumes that new businesses were created in April and that they hired people," Schiff told J.D. Hayworth and Miranda Kahn on "America's Forum" on Newsmax TV.





Peter Schiff is a well-known commentator appearing regularly on CNBC, TechTicker and FoxNews. He is often referred to as "Doctor Doom" because of his bearish outlook on the economy and the U.S. Dollar in particular. Peter was one of the first from within the professional investment field to call the housing market a bubble. Peter has written a book called "Crash Proof" and a follow-on called "The Little Book of Bull Moves in Bear Markets". He is the President of EuroPacific Capital, which is a brokerage specializing in finding dividend-yielding, value-based foreign stocks.