This morning's August jobs report brought us news that, once again, labor force participation dropped.
The rate fell to 63.2% from 63.4% the month before. That's the lowest since August 1978. So as the unemployment rate steadily drops, it's important to keep labor force participation — arguably a better indicator of real employment — in mind. What good is a decreasing unemployment rate (now at 7.3% from 7.4% last month) if it's a result of a mass exodus from the labor force?
Read more: http://www.businessinsider.com/american-labor-force-in-one-chart-2013-9#ixzz2gDqBotlO
Angie,
ReplyDeleteThe Kenyan born, Muslim, Marxist is doing exactly what he said he was going to do back in 2008. "Fundamentally transforming America" into a socialist slum third World country where the slackers, druggies, welfare queens, and SNAP recipients will forever vote for a democrat and now get free health insurance at the cost of the producers.
If this guy isn't shut down in the 2014 elections, prepare for an all out collapse of America as it used to be.
November 2014 , we may not last that long.....
DeleteIt's only 47% as stated by Mitt Romney. Leaves 53% and ya still can't beat him.
ReplyDeleteBeat who? Obama, he's lame duck, beaten already, weak foreign policy skills, even weaker leadership skills.
DeleteFive Economic Truths: "1. You cannot legislate the poor into prosperity by legislating the wealthy out of prosperity. 2. What one person receives without working, another person must work for without receiving. 3. The government cannot give to anybody anything that the government does not first take from somebody else. 4. You cannot multiply wealth by dividing it! 5. When half of the people get the idea that they do not have to work because the other half is going to take care of them, and when the other half gets the idea that it does no good to work because somebody else is going to get what they work for, that is the beginning of the end for a nation."
DeleteNo TD he is an unbeaten lame duck. But really is he a lame duck? He has one more election cycle that may just may put him in the drivers seat for his last two years. Time will tell. Hey Friend I like what you got going on here, glad to be back amongst ya'll
ReplyDeleteWhat of "weak foreign policy skills, even weaker leadership skills." Where are "we" being "led"? He is by far the worst foreign policy (ies) President in history, is there a reason for all the push back to OCare, perhaps more than 1, 2...? Why do all the unions want out, why are companies all over the nation reducing payrolls (if they can) to less than 30 folks... ???
DeleteAs far as workforce participation, let's put some things in perspective. Right now, today about 10,000 baby boomers retired. That about 310,000 or so per month. Also have you ever heard of a company called Public Consulting Group? What PCG does is help states move people from the public welfare rolls into a federal disability program(s) programs you and I are paying for. And what's the top states using PCG. South Carolina headed by that big mouth republican Nikki Haley, Georgia headed by Republican Nathan Deal, Tennessee headed by Republican Bill Haslam and his 78% repub rubber stamp legislature, and the most Republican state in the Union Oklahoma, Headed by Repub Mary Fallin and a state legislature of 150 reps and sens than contains only 41 democrats. So while the conservatives are telling you all this bad stuff they are, behind your back, causing a lot of it.
ReplyDeleterick,
DeleteHow does moving individuals from public welfare rolls into federal disability programs change the fact that we are paying for? And how is being in one program worse than being in another?
Jean
As far as workforce participation, let's put some things in perspective. Right now, today about 10,000 baby boomers retired.
DeleteAnd non working age retired baby boomers effects the labor participation rate .... how?
I gather it means that 10k that were counted as part of the workforce yesterday no longer count today. The implication is that 300k jobs per month may open as Boomers continue to retire helping long term employment prospects.
DeleteThe formula counts the participation of 'eligible workers' only. The participation rate counts only eligible workers against available jobs. If anything, if the jobs held by retires were still available and filled by unemployed, the participation rate would rise... not fall. What we see is less jobs and more eligible workers..... has nothing to do with the number of retires... except, with one caveat... those who retire before 65 years of age...
Delete@ Jean, how does it matter? Jean if I move 10 people from a state welfare roll, a state you don't live in, to a Federal Disability Program, I believe that they just got somewhat out of my wallet and moved further into yours.into yours.
Delete@ the Scott. Boomers are eligible workers until they retire. When you retire what do you do? Ah yes you leave the work force. I can't believe that none of you except Pfunky gets that concept.
DeleteTo me, the Boom generation is the 800lb gorilla in the room that no one on this site seems to talk about (maybe cuz most of you are Boomers?)
DeleteMost of our budget/economic issues are directly or indirectly related to the fact that we got a population of 70 million + that are at or near retirement age. Do you think it's coincidence that health care costs began to skyrocket in the mid 90s when the Boomers began hitting their 50s? Older people consume more healthcare. Higher demand = higher costs. Econ 101. And, of course, the biggest hole in our budget is rapidly becoming soaring healthcare. We got 70 million people on or about to be on Medicare. Do the math.
The thing is, this is no surprise. Credit Reagan and O'Neill for recognizing the budgetary strain that the Boom generation would enivitablely cause when they worked to extend Social Security's viability back in the 80s. It was known that 70 million people retiring at about the same time could cause soaring deficits. This should be a shock to no one. Throw in an economic meltdown, and the effects are magnified.
Funny, during the '12 campaign, I questioned Romney's claim that 12 million new jobs would be created during his presidency. I gasped at that claim. Then I happened on an article from some business publication about how they estimated that 12 million jobs would open over the next 4 years due to retiring Boomers leaving the workforce. A-HA!!!
Ok. I'm done.
And Pfunky you are right on the nose.
ReplyDelete