Labor Participation Rate Drops To 36 Year Low; Record 92.6 Million Americans Not In Labor Force

[Dad2three]

Within all the hoopla over the job numbers today, the sad reality, that it just ain't baby boomers retiring. Like I've said, we will ultimately get to 0% unemployment and all 4615 jobs will be filled

-Geaux
===================================

Labor Participation Rate Drops To 36 Year Low Record 92.6 Million Americans Not In Labor Force Zero Hedge

While by now everyone should know the answer, for those curious why the US unemployment rate just slid once more to a meager 5.9%, the lowest print since the summer of 2008, the answer is the same one we have shown every month since 2010: the collapse in the labor force participation rate, which in September slid from an already three decade low 62.8% to 62.7% - the lowest in over 36 years, matching the February 1978 lows. And while according to the Household Survey, 232,000 people found jobs, what is more disturbing is that the people not in the labor force, rose to a new record high, increasing by 315,000 to 92.6 million!

And that's how you get a fresh cycle low in the unemployment rate.





So the next time Obama asks you if you are "better off now than 6 years ago" show him this chart of employment to the overall population: it speaks louder than the president ever could.

Since 2000, the labor force rate has been steadily declining as the baby-boom generation has been retiring. Because of this, the Federal Reserve Bank of Chicago expects the labor force participation rate to be lower in 2020 than it is today, regardless of how well the economy does.


The incredible shrinking labor force

If the same percentage of adults were in the workforce today as when Barack Obama took office, the unemployment rate would be 11.1 percent. If the percentage was where it was when George W. Bush took office, the unemployment rate would be 13.1 percent.

The incredible shrinking labor force - The Washington Post

 

[Billy000]

So you think the 75 billion a year spent on food stamps is supporting all or most of these unemployed people?

What else is? Do the unemployed food stamp recipients have some alternate income we have never discovered before? Other than unemployment and other welfare benefits do they have? Every dollar they get is a government subsidy. And 78 billion doesn't even come close to what they are getting over all.

The average income of a household on food stamps is $766 a month. The average household on food stamps receives $133 a month. 76% of households on food stamps has at least one dependent living in the home. These people receive 83% of all food stamps funding.

Most people receiving welfare are only one welfare program. Very few are on two.

And you think you have disproved my point how?

The point is, if there is an undisclosed alternate source of income, who can blame them?

Here's a solution. Raise the minimum wage to a liveable wage that has also kept up with inflation. Less people would be on food stamps and they would pay taxes.

Everybody wins.

Here's a better solution - deport 20 million illegal infiltrators. That will create millions of job vacancies. Employers will have to raise wages to draw American workers into these postilions. The increased wages will draw discouraged workers back into the labor force.

That's how AMERICANS win.,

Your minimum wage solution creates some winners who get higher wages but it also creates more losers who get displaced out of the labor force and onto the dole, thereby supported by the rest of society.

Getting rid of 20 million infiltrators would create Christmas morning types of gifts for job-hunters. What's the problem? The infiltrators are not Americans, they're invaders. Show your loyalty to Americans first.

It's not that I don't think illegal aliens is a problem, but your theory about how employers would respond to them all being deported is pure conjecture bullshit. Wages would not change.

The job loss would obviously depend on how high the wage was. If it was raised to 10.10 an hour for instance, the job loss would be quite low. The CBO estimates it at 500,000. Over time, however, all of those jobs would be recovered and more created because of the huge increase in economic demand. Prices would also remain stable.

 

[eagle1462010]

What else is? Do the unemployed food stamp recipients have some alternate income we have never discovered before? Other than unemployment and other welfare benefits do they have? Every dollar they get is a government subsidy. And 78 billion doesn't even come close to what they are getting over all.

The average income of a household on food stamps is $766 a month. The average household on food stamps receives $133 a month. 76% of households on food stamps has at least one dependent living in the home. These people receive 83% of all food stamps funding.

Most people receiving welfare are only one welfare program. Very few are on two.

And you think you have disproved my point how?

The point is, if there is an undisclosed alternate source of income, who can blame them?

Here's a solution. Raise the minimum wage to a liveable wage that has also kept up with inflation. Less people would be on food stamps and they would pay taxes.

Everybody wins.

Do they as prices rise with your solution? And if they do what have you solved? The answer is to create jobs and stop destroying the value of the dollar............by a Gov't that can't keep spending........and a nation that allows Free Trade.

Well see this is where you cons have trouble with nuance. The increase in price would depend on the wage. If we raised it to 10.10 as Obama proposed, the price increase would be pennies on the dollar. Why? Because over time the prices would stay down because raising the wage would mean a huge increase in economic demand. This increase would not only keep prices down but it would also create millions of iobs over time. Much more than the jobs that would be initially lost. The fact that you think this would devalue the dollar is a demonstration of complete ignorance.

People like you have reading comprehension problems........I stated the value of the dollar is why our current minimum wage is a problem...........Our country is purposely deflating the dollar and it has been dying since 1971 under Nixon.........Our country destroys it by living beyond or means and turning it into toilet paper.

Your solution doesn't fix this problem. That problem will exist with higher minimum wage until the new higher minimum wage will not be sufficient again. and again.......and again.............

Because we refuse to look at reality. We refuse to attack the core reason of why we have to increase it.

 

[Rikurzhen]

It's not that I don't think illegal aliens is a problem, but your theory about how employers would respond to them all being deported is pure conjecture bullshit. Wages would not change.

You know the trouble that comes with engaging in a bullshitting strategy? When you get called on a claim, you can't back it up. I don't let that happen to myself. Here's what happened after some immigration raids on slaughterhouses:

- Fewer Hispanic immigrants are being hired to replace meatpacking workers arrested at
Swift & Co. plants in Grand Island, Neb., and Greeley, Colo., during last week's immigration
raid, union officials said Tuesday.

Local 22 union president Dan Hoppes said Tuesday that 40 to 50 new workers have been hired at the Grand Island plant since the raids.

''The lion's share of those people were Caucasian,'' Hoppes said.. . .

''They're trying to staff up their plants and they've been raising their wages the past few weeks,'' said United Food and Commercial Workers spokeswoman Jill Cashen. ''To me, it's an example that when you make the job more attractive you get a different kind of applicant.'​

Here's another story:

The United Food and Commercial Workers filed grievances over the company’s interviews, although after the workers left, the Marshalltown plant raised its starting wage from $9.55 to $11.50 in an attempt to fill the vacancies, said Jim Olesen, the union’s local president.
​

 

[francoHFW]

...OP- Baby boomers retiring in huge numbers...this is crappe- why are Pubs and hater dupes against a recovery? A disgrace.

 

[Billy000]

It's not that I don't think illegal aliens is a problem, but your theory about how employers would respond to them all being deported is pure conjecture bullshit. Wages would not change.

You know the trouble that comes with engaging in a bullshitting strategy? When you get called on a claim, you can't back it up. I don't let that happen to myself. Here's what happened after some immigration raids on slaughterhouses:

- Fewer Hispanic immigrants are being hired to replace meatpacking workers arrested at
Swift & Co. plants in Grand Island, Neb., and Greeley, Colo., during last week's immigration
raid, union officials said Tuesday.

Local 22 union president Dan Hoppes said Tuesday that 40 to 50 new workers have been hired at the Grand Island plant since the raids.

''The lion's share of those people were Caucasian,'' Hoppes said.. . .

''They're trying to staff up their plants and they've been raising their wages the past few weeks,'' said United Food and Commercial Workers spokeswoman Jill Cashen. ''To me, it's an example that when you make the job more attractive you get a different kind of applicant.'​

Here's another story:

The United Food and Commercial Workers filed grievances over the company’s interviews, although after the workers left, the Marshalltown plant raised its starting wage from $9.55 to $11.50 in an attempt to fill the vacancies, said Jim Olesen, the union’s local president.
​

Lol how typical that you call anecdotal examples proof of anything. Even still, how do we know for sure those wage increases are because they hired legal Americans?

What is the incentive behind employers raising wages because of more legal Americans working? A moral one? Please.

You're also talking about a smaller minority of Americans. It would do very little to close the massive income inequality gap.

 

[KissMy]

Bush destroyed 18 million US jobs. Obama has already restored or created 10.3 million jobs. Obama's longest uninterrupted stretch of private sector job growth in U.S. history

Obama is rocking the "Working Age Employment Ratio"

 

[DigitalDrifter]

At a Labor Day rally in Milwaukee, President Obama turned the limelight on himself, approvingly and inaccurately.
“By almost every measure,” he declared, “the American economy and the American workers are better off than when I took office.”
In contrast to Mr. Obama’s self-congratulatory assertion, the Census Bureau reports that median household income in the United States, adjusted for inflation, is down by more than $2,000 since Obama’s first inauguration in January 2009.
Additionally, as an indicator of the economic downturn, a sixth of the U.S. population is currently receiving food stamps, an increase in the participation rate in the Supplemental Nutrition Assistance Program of 61 percent since 2008.

Obama s Spin Can t Keep Up With America s Economic Reality The American Spectator

 

[francoHFW]

the American Spectator is total Pubcrappe, for hater dupes only.

 

[Stephanie]

the American Spectator is total Pubcrappe, for hater dupes only.

and you're a puppet/tool for the Democrat party and a hater dupe to boot

 

[Geaux4it]

More data

-Geaux

==================================

Obama s Economic Recovery In Pictures Zero Hedge

Obama's Economic Recovery In Pictures

On Thursday, President Obama will give a speech at Northwestern University's Kellogg School of Management on the economy. This issue is critical going into the mid-term elections as virtually every poll shows this is a top concern of voters.

The question of economic recovery is interesting in the context of where that recovery has occurred. As I discussed recently in "For 90% Of Americans, There Has Been No Recovery,"while the ongoing interventions by the Federal Reserve have inflated asset prices, the only real accomplishment has been a widening of the wealth gap between the top 10% of individuals that have dollars invested in the financial markets and everyone else.



Another problem for the President at Northwestern University is that he will be trying to promote his success on economic recovery to a group of individuals who are currently plagued with a poor slate of economic statistics. The unemployment rate for 18-29 year-olds is nearly 12%. Over 30% are still living with parents more than two years after graduation. Only 43.6% of young adults currently hold a full-time job. 53% are either jobless or underemployed relative to the education.

These stats are going to make promoting an "economic success" story rather difficult. However, let's review Obama's economic scorecard in terms of the things that truly matter to the average American.



Full-Time Jobs

There is only one chart of employment that truly matters: the number of full-time employees relative to the working age population. Full-time employment is what ultimately drives economic growth, pays wages that will support household formation and fuels higher levels of government revenue from taxes. If the economy were truly beginning to recover, we should be witnessing an increasing number of full-time employees. Unfortunately, that has not been the case as this measure, as shown by the chart below, is only slightly off the lows witnessed during the financial crisis.





Wages & Salaries

Given that nearly 70% of economic growth is driven by personal consumption expenditures, the sluggishness of economic growth since the financial crisis can be directly attributed to a fall in personal incomes. According to a recent Federal Reserve survey, median household before-tax incomes have fallen from near $52,000 annually to roughly $47,000 currently.

 

[paulitician]

Their Unemployment numbers are lies. We're actually experiencing record poverty. And with this President opening the Border floodgates, jobs will become more scarce and wages will drop significantly. So don't believe in the Hopey Changey fairy tales. With this record poverty & record debt, the future is bleak.

 

[EconChick]

Their Unemployment numbers are lies. We're actually experiencing record poverty. And with this President opening up the Border floodgates, jobs will become more scarce and wages will drop significantly. So don't believe in the Hopey Changey fairy tales. With this record poverty & record debt, the future is bleak.

Yep, P. Yep

 

[Kosh]

Their Unemployment numbers are lies. We're actually experiencing record poverty. And with this President opening the Border floodgates, jobs will become more scarce and wages will drop significantly. So don't believe in the Hopey Changey fairy tales. With this record poverty & record debt, the future is bleak.

You can thank the far left Congress for the first two years under Clinton on how we currently count unemployment.

 

[EconChick]

Yep, this is the real news.

 

[paulitician]

Their Unemployment numbers are lies. We're actually experiencing record poverty. And with this President opening the Border floodgates, jobs will become more scarce and wages will drop significantly. So don't believe in the Hopey Changey fairy tales. With this record poverty & record debt, the future is bleak.

You can thank the far left Congress for the first two years under Clinton on how we currently count unemployment.

Just more lies. Absolute fiction. The future does not look bright for American Workers.

 

[EconChick]

bump

 

[Skylar]

The LPR has been declining since 2000 or so. It shot up starkly when the baby boomers entered the work force. And its declining now that the baby boomers are leaving the work force. The LBR's starkest decline began almost exactly 62 and half years from the first boomer entering the workforce. With 62 and half being the minimum age to start collecting social security.

 

[paulitician]

bump

This President has opened the Border floodgates. That just means more bad news for American Workers. Jobs will become more scarce and wages will drop. Not to mention, Millions & Millions more seeking Government Entitlements.

Most like to scoff at the notion of 'Collapse.' But it's actually a real possibility. I would advise Americans to be prepared. Humans are just animals in the end. It really doesn't take much for them to go feral. Take away some electricity and internet, and they'll become rabid pretty quickly.

 

[pinqy]

Their Unemployment numbers are lies. We're actually experiencing record poverty. And with this President opening the Border floodgates, jobs will become more scarce and wages will drop significantly. So don't believe in the Hopey Changey fairy tales. With this record poverty & record debt, the future is bleak.

You can thank the far left Congress for the first two years under Clinton on how we currently count unemployment.

Definition of Unemployed from 1967-1993:

Unemployed persons comprise all persons who did not work during the survey week, who made specific efforts to find a job within the past 4 weeks, and who were available for work during the survey week (except for temporary illness). Also included as unemployed are those who did not work at all, were available for work, and (a) were waiting to be called back to a job from which they had been laid off; or (b) were waiting to report to a new wage or salary job within 30 days.
http://fraser.stlouisfed.org/docs/publications/employment/1960s/empl_021967.pdf

Definition of Unemployed from 1994 on:

Unemployed persons. All persons who had no employment during the reference week, were available for work, except for temporary illness, and had made specific efforts to find employment some time during the 4-week period ending with the reference week. Persons who were waiting to be recalled to a job from which they had been laid off need not have been looking for work to be classified as unemployed.
http://www.bls.gov/cps/eetech_methods.pdf

So what do you think is a major difference?

.