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Tag Archive: Labor force


Record 92.6 Million Americans Not In Labor Force

 

 

 

 

 

” 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! “

 

Tyler Durden has more at Zero Hedge

 

 

 

 

 

 

 

 

 

 

 

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Going Galt-Labor Force Participation Rates Decline Across Age Groups

 

 

 

” A phenomena of the Obama economy is that labor force participation rates have been declining. In October 2013, a staggering 1 million people dropped out of the labor force. according to the St. Louis Federal Reserve data (above). It wasn’t due to the government shutdown, because they were still counted as employed in the data. The St. Louis Federal Reserve seems totally stumped at the what is happening in the U.S. economy.

Has it occurred to the brilliant “economists” at the  St. Louis Federal Reserve that key provisions of Obama Care went into effect October 1?  Have they considered the impact of Obama Care and zero percent interest rates on working and saving behavior?

Several theories abound, anything from a rise in stay at home mothers (reverse feminism), more students staying in school, and other hypothesis. However, what no one at the Federal Reserve wants to admit is this:  John Galtism is alive and well in the U.S. economy. They are measuring the John Galt effect.

John Galt was a figure in the Ayn Rand’s book Atlas Shrugged who represented the social protest against socialism. It is a failure to participate in a regime that requires one to work for the betterment of others over the betterment of self. The only way to protest Obama Care is to minimize one’s participation in the economy that is so ordered. In the absence of sane policy responses, such as repealing the monstrosity known as Obama Care, the only recourse is to withdraw from the economy.

It isn’t a strike as such. It is simply a failure to comply, or a failure to launch. Even the website for Obama Care doesn’t want to participate. Why are we, as a nation, engaged in this madness? “

 

 

 

 

 

 

 

 

Real Hope & Change For Obama’s Kool-aid Drinkers

 

 

 

 

” It can be absolutely soul crushing when you discover that the “bright future” that the system had been promising you for so many years turns out to be a lie.  A lot of young people ultimately give up on the system and many of them end up just kind of drifting aimlessly through life.  The following is an example from a recent Wall Street Journal article

James Roy, 26, has spent the past six years paying off $14,000 in student loans for two years of college by skating from job to job. Now working as a supervisor for a coffee shop in the Chicago suburb of St. Charles, Ill., Mr. Roy describes his outlook as “kind of grim.”

“It seems to me that if you went to college and took on student debt, there used to be greater assurance that you could pay it off with a good job,” said the Colorado native, who majored in English before dropping out. “But now, for people living in this economy and in our age group, it’s a rough deal.”

Young adults as a group have been experiencing a tremendous amount of economic pain in recent years.  The following are 30 statistics about Americans under the age of 30 that will blow your mind…

#1 The labor force participation rate for men in the 18 to 24 year old age bracket is at an all-time low.

#2 The ratio of what men in the 18 to 29 year old age bracket are earning compared to the general population is at an all-time low.

#3 Only about a third of all adults in their early 20s are working a full-time job.”

 

 

See The Rest

 

 

Illustration By Marshall Ramsey

 

 

 

 

 

 

 

HOW BAD IS OBAMA’S RECORD ON THE ECONOMY? THIS BAD

 

 

” We are now nearly five years into the Age of Obama, and I think pretty much everyone understands that, economically speaking, the record is poor. If you think unprecedented levels of unemployment and poverty, declining labor force participation, booming food stamp use and so on are the signs of a healthy economy, then you should be satisfied with the Obama administration. Otherwise, not.

It must have hurt the New York Times to report this, but report it they did: “Many Rival Nations Surge Past the U.S. in Adding New Jobs.”

[C]ontrary to the widespread view that the United States is an island of relative prosperity in a global sea of economic torpor, employment in several other nations has bounced back more quickly, according to a new analysis by the Bureau of Labor Statistics.”

 

 

 

 

 

 

 

 

 

1 Government Worker to Every 5 American Working Adults

 

 

 

” Why don’t we just give everyone a guaranteed government job? It worked in the Soviet Union where there was no unemployment and not much of anything else. Also people who didn’t have jobs were deported to labor camps. Or shot.

But until that wonderful Socialist utopia dawns, we can still be reassured that we live in a nation where government employees remain a privileged class, their noble public service rewarded by better benefits and low unemployment rates.

 

Since July, times have been very good for government in the United States, with governments managing to add 618,000 workers to their payrolls.  In March, there were 20,633,000 total government workers in the U.S.  In July the government employed 20,015,000 people.”

 

 

 

 

 

Stocks Slump 1% After Jobs Report, Dow Skids 150; Vix Spikes 10%

 

 

Stock

 
” Stocks dropped more than 1 percent across the board Friday, with all key S&P sectors in the red, following a much weaker-than-expected March unemployment report in addition to ongoing worries over North Korea.

The Dow Jones Industrial Average tumbled more than 150 points, dragged byCisco and Bank of America.

The S&P 500 and the Nasdaq also slumped sharply. The CBOE Volatility Index (VIX), widely considered the best gauge of fear in the market, spiked above 15.

All key S&P sectors were firmly in negative territory, led by techs and financials.

U.S. employers hired at the slowest pace in nine months in March, adding just 88,000, while the unemployment rate notched lower to 7.6 percent, largely due to people dropping out of the work force, according to the Labor Department. The unemployment rate is the lowest since December 2008, while the labor force participation rate is at the lowest since 1979. Analysts polled by Reuters had expected a gain of 200,000.

Earlier this week, private sector employment and jobless claims data indicated weakness in the labor market. Reports on the manufacturing and services sectors also disappointed.”

 

 

 

 

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 73% Of New Jobs Created In Last 5 Months Are In

Government

 

 

 ” The United States government is propping up the dismal labor market by simply absorbing workers into its ranks. As CNS News reports, 73.3% of new civilian jobs in the last five months are due to government hiring:

In the same five-month period since June, the number of people employed by government increased by 621,000 to 20,559,000. These 621,000 new government jobs created in the last five months equal 73.3 percent of the 847,000 new jobs created overall.

Elsewhere on the employment front, the mainstream media are doing cartwheels over news that the unemployment rate ticked down from 7.9% in October to 7.7% in November. The celebration comes as 540,000 dropped out of the workforce, and the labor force participation rate dropped to 63.6%. This is slightly up from the thirty-year low of 63.5% in September.”

 Who said Obama has no accomplishments ? Labor force participation hits a 30 year low . If you are feeling confident because the unemployment rate is slowly falling , don’t be . More people aren’t finding work . More people are ceasing to look for work . 

From Zero Hedge

People Not In Labor Force Soar By 522,000, Labor Force Participation Rate Lowest Since 1981

From the comments :

” Interesting.

Now the comparative years are startng to slide back. All comparisons were to 2005 and 2000 and 1995…..suddenly, we are in 1981 territory?

At this rate of reverse acceleration, we should be at war shortly and then back in the warm arms of Great Depression comparisons within a few weeks?

What goes up must come down…nah, that’s old ways of thinking…. new math, new rules don’t allow for such logic.

What is pushed up can be kept up is the new mantra.”

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