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

[Geaux4it]

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.

 

[Zander]

Good times!!

 

[Geaux4it]

At least I'm doing my share. I have a 'handy man' working at the house today. Only downside, is I noticed he has an 'Obama 2012' sticker in the window of his truck. I may have to release him as obviously his judgement can not be trusted

-Geaux

 

[Mr. H.]

With incentives like this, why work...

 

[Missouri_Mike]

Let's not call them "out of the labor force".

They are liberated from working remember?

 

[deltex1]

At least I'm doing my share. I have a 'handy man' working at the house today. Only downside, is I noticed he has an 'Obama 2012' sticker in the window of his truck. I may have to release him as obviously his judgement can not be trusted

-Geaux

Make sure you deduct his income tax and social security...and check to see if he has obamacare....

 

[deltex1]

Let's not call them "out of the labor force".

They are liberated from working remember?

Part of the Pelosi recovery plan.

 

[Missouri_Mike]

Let's not call them "out of the labor force".

They are liberated from working remember?

Part of the Pelosi recovery plan.

And people just don't fell the recovery according to o'idiot. I wonder why?

 

[NYcarbineer]

You should read up on how it's determined that people are not in the labor force:

AmosWEB is Economics Encyclonomic WEB pedia

 

[EconChick]

Great thread, G!! Drives libs nuts to point out why the U-3 numbers are superficial.

 

[Geaux4it]

You should read up on how it's determined that people are not in the labor force:

AmosWEB is Economics Encyclonomic WEB pedia

No thanks, I'll pass.. Just look to everyone with their hands out. Get those disability claims filed already

-Geaux

 

[Rikurzhen]

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!

The low in February 1978 was 62.7 but when we disaggregate that figure we find only 49.2% of women were in the labor force compared to a high of 60.2% in March 2001 and the present day figure of 56.9% and that in that month 77.8% of men were in the labor force compared to a high of 87.4% in October of 1949 and the present rate of 69.1%.

As we can see men have been hit massively since 1949. Even looking at Feb. '78, men have lost 8.7% while women have dropped only 3.3% since their high water mark. Looking at an aggregate number which combines men and women leads to ambiguity because the past is not the same as the present in terms of women's role in the labor force.

 

[Geaux4it]

Great thread, G!! Drives libs nuts to point out why the U-3 numbers are superficial.

Indeed- And this from Bloomberg

-Geaux

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

Workforce Participation at 36-Year Low as Jobs Climb

Even the strongest job growth in two years isn’t enough to entice more people into thelabor force, one of the biggest conundrums of the U.S. economic expansion.

he share of the working-age population either employed or seeking a job declined in April for the first time this year, helping drive the unemployment rate down to 6.3 percent, the lowest since September 2008. At 62.8 percent, the so-calledparticipation rate matches the lowest since March 1978.

A shrinking workforce saps the U.S. of the manpower needed to boost the expansion to a higher level, keeping the world’s largest economy merely plodding along. It also undercuts the theory that sustained growth alone will be enough to attract more Americans, from students to people discouraged over employment prospects, back into the hunt for jobs.

Workforce Participation at 36-Year Low as Jobs Climb - Bloomberg

 

[NYcarbineer]

Great thread, G!! Drives libs nuts to point out why the U-3 numbers are superficial.

U-6 is down to 11.8 which is the lowest since October of 2008.

 

[Missouri_Mike]

You should read up on how it's determined that people are not in the labor force:

AmosWEB is Economics Encyclonomic WEB pedia

Of course. People working as a percentage isn't about people not working it's all in how you formulate the numbers.

BTW- Why is military not included in working people but cops and all other government agencies are? By the definition given military can't be counted on for production. Yet the rest of the government that actually produces nothing is considered employed.

 

[Rikurzhen]

You should read up on how it's determined that people are not in the labor force:

AmosWEB is Economics Encyclonomic WEB pedia

Of course. People working as a percentage isn't about people not working it's all in how you formulate the numbers.

BTW- Why is military not included in working people but cops and all other government agencies are? By the definition given military can't be counted on for production. Yet the rest of the government that actually produces nothing is considered employed.

Sarge, I quit. I got a better job and I'm giving my notice two weeks from Monday, that should give you enough time to hire a replacement for me.

 

[rightwinger]

Been dropping for 15 years

Never seemed to matter when it dropped during 8 years of Bush. But since unemployment dropped below 6% today, Republicans need a new economic factor to harp on

 

[RandallFlagg]

Let's not call them "out of the labor force".

They are liberated from working remember?

Exactly....according to the idiot Pelosi, they are now free to follow their "passions". God almighty I wish we could be free from that stupid bitch.....

 

[Billy000]

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.

Labor participation is a complex and dynamic issue. To suggest all or even half of these people are "discouraged or dead beat" people is completely wrong and is only an attempt to find new things to complain about it when it comes to Obama.

 

[Billy000]

With incentives like this, why work...

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