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It's something no one wants to address.
My post addressed it.
The private sector is hiring at a good clip. It's not enough.
The Federal, state and cities need to start hiring again. And it's needed.
Actually more retiring aged are returning to the workforceWe have the worst job participation numbers since 1978. The economy sucks. Anyone who says otherwise is a partisan hack.
Btw...only 22% of Americans think the Country is headed in the right direction. 77% think the economy sucks. If the Democrats want to run on the economy please go for it. You're going to get fucking killed.
RealClearPolitics - Election Other - Direction of Country
Is cold weather the reason? Yes! I have not seen any lifeguards at any of the Minnesota beaches I have recently visited.
OK, the Labor Force Participation Rate. A couple of things. According to Pew Research;
" As the year 2011 began on Jan. 1, the oldest members of the Baby Boom generation celebrated their 65th birthday. In fact, on that day, today, and for every day for the next 19 years, 10,000 baby boomers will reach age 65"
Baby Boomers Retire | Pew Research Center
Which leads to;
"When Obama took office in January, 2009, the workforce participation rate was 65.7 percent. So there has certainly been a decline. But the rate had already been on a steady downward track since it hit a high of 67.3 percent in the last year of Bill Clintons presidency.
A key reason? The composition of the labor force has been affected by the retirement of the leading edge of the Baby Boom generation. (Our colleague Brad Plumer has written extensively on this issue.)
In the first five years of George W. Bushs presidency, the rate fell 1.2 percentage points. (At the time, Democrats might have tried to claim that under the Bush economy the labor participation rate was the worst in two decades.) Five years into Obamas presidency, the rate has fallen 2.7 percentage points.
So clearly the decline has been faster under Obama, though again, demographic factors have played an important role.
The Federal Reserve Bank of Chicago in 2012 concluded that just over half of the post-1999 decline in the participation rate comes from the retirement of the baby boomers. Critically, the research showed that the problem is only going to get worse in the rest of the decade, with retirements accounting for two-thirds of the decline of participation rate by 2020. In other words, the rate will keep declining, no matter how well the economy does.
Barclays economists, meanwhile, say that just 15 percent of the drop in the labor force stems from people who want a job and are of prime working age (25-54). "We view the possibility of a large and sudden return of previously discouraged job seekers to the labor force as remote, they wrote."
How much is Obama to blame for the worst labor participation rate in 40 years?
-------------------------------------------------------------------------------
So, despite protests, the retiring Baby Boomers are having a profound effect on the participation rate. This has been heavily studied. As matter of fact a study by the BLS in 2005 states; ""The baby boomers exit from the prime-aged workforce
and their movement into older age groups
will lower the overall labor force participation rate,
leading to a slowdown in the growth of the labor force"Participation Rate."
http://www.bls.gov/opub/mlr/2005/11/art3full.pdf
Return to Work After Retirement | Monster
More older workers making up labor force - Los Angeles Times
That doesn't address why obama want to extend unemployment benefits AGAIN if the economy is doing good.
Something you left outActually more retiring aged are returning to the workforceIs cold weather the reason? Yes! I have not seen any lifeguards at any of the Minnesota beaches I have recently visited.
OK, the Labor Force Participation Rate. A couple of things. According to Pew Research;
" As the year 2011 began on Jan. 1, the oldest members of the Baby Boom generation celebrated their 65th birthday. In fact, on that day, today, and for every day for the next 19 years, 10,000 baby boomers will reach age 65"
Baby Boomers Retire | Pew Research Center
Which leads to;
"When Obama took office in January, 2009, the workforce participation rate was 65.7 percent. So there has certainly been a decline. But the rate had already been on a steady downward track since it hit a high of 67.3 percent in the last year of Bill Clintons presidency.
A key reason? The composition of the labor force has been affected by the retirement of the leading edge of the Baby Boom generation. (Our colleague Brad Plumer has written extensively on this issue.)
In the first five years of George W. Bushs presidency, the rate fell 1.2 percentage points. (At the time, Democrats might have tried to claim that under the Bush economy the labor participation rate was the worst in two decades.) Five years into Obamas presidency, the rate has fallen 2.7 percentage points.
So clearly the decline has been faster under Obama, though again, demographic factors have played an important role.
The Federal Reserve Bank of Chicago in 2012 concluded that just over half of the post-1999 decline in the participation rate comes from the retirement of the baby boomers. Critically, the research showed that the problem is only going to get worse in the rest of the decade, with retirements accounting for two-thirds of the decline of participation rate by 2020. In other words, the rate will keep declining, no matter how well the economy does.
Barclays economists, meanwhile, say that just 15 percent of the drop in the labor force stems from people who want a job and are of prime working age (25-54). "We view the possibility of a large and sudden return of previously discouraged job seekers to the labor force as remote, they wrote."
How much is Obama to blame for the worst labor participation rate in 40 years?
-------------------------------------------------------------------------------
So, despite protests, the retiring Baby Boomers are having a profound effect on the participation rate. This has been heavily studied. As matter of fact a study by the BLS in 2005 states; ""The baby boomers exit from the prime-aged workforce
and their movement into older age groups
will lower the overall labor force participation rate,
leading to a slowdown in the growth of the labor force"Participation Rate."
http://www.bls.gov/opub/mlr/2005/11/art3full.pdf
Return to Work After Retirement | Monster
More older workers making up labor force - Los Angeles Times
Yup, 1 in 5 is staying in the work force or is looking for work.
Something you left outActually more retiring aged are returning to the workforce
Return to Work After Retirement | Monster
More older workers making up labor force - Los Angeles Times
Yup, 1 in 5 is staying in the work force or is looking for work.
"the highest in almost half a century."
The jobs numbers will be adjusted upward
6.7% ??
Can we get the unemployment rate below 6% by the November elections?
Doesn't look good for the Republicans
Especially since they're the cause of high unemployment.
LOL
Especially since they're the cause of high unemployment.
LOL
perhaps in the view of a partisan hack, but any fair observer has to realize the problem is the Keynesian economic model Obama follows.
Especially since they're the cause of high unemployment.
LOL
perhaps in the view of a partisan hack, but any fair observer has to realize the problem is the Keynesian economic model Obama follows.
If only we had more trickle down....
Especially since they're the cause of high unemployment.
LOL
perhaps in the view of a partisan hack, but any fair observer has to realize the problem is the Keynesian economic model Obama follows.
If only we had more trickle down....
Something you left outYup, 1 in 5 is staying in the work force or is looking for work.
"the highest in almost half a century."
Shit man, I agreed with you but I guess not enough!!!!!!
Something you left out
"the highest in almost half a century."
Shit man, I agreed with you but I guess not enough!!!!!!
Jut wanted to emphasize the highest in a half of century part part
