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Labor Force Participation Rate Drops To 25 Year Low, At 64.5%

Tyler Durden's picture





 

The inverse silver lining to today's jobs report that will be lost in the shuffle of what is perceived as a good NFP (despite consistent initial jobless claims of around 450K, which means that either there is a massive data error, or the rate of job creation has somehow surged) is that labor force participation has now dropped to the lowest rate it has been since 1984, at 64.5%. Assuming a reversion to the long-term average participation rate of 66%, means that the civilian labor force is in reality 157.4 million as opposed to the disclosed 153.9 million, a delta of 3.5 million currently unaccounted for. Maybe someone can ask the president during his imminent press conference what happened to the unemployed population, which would have been 18.3 if this labor force delta was incorporated, resulting in an unemployment rate of 11.6%.

 


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Fri, 11/05/2010 - 09:10 | Link to Comment The Alarmist
The Alarmist's picture

You know, I watched CNBC for several minutes yesterday to see if there was any mention of revision to last weeks claims figures.  Nary a mention, only that things were marginally worse this week versus last.  Seems you only get journalism in the so-called fringe media.  Keep up the good work.

Fri, 11/05/2010 - 10:01 | Link to Comment MarketTruth
MarketTruth's picture

You watched CNBC? Were you trapped with your eyes forced open like in the movie a Clockwork Orange?

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Fri, 11/05/2010 - 09:12 | Link to Comment Azannoth
Azannoth's picture

http://www.trutv.com/library/crime/criminal_mind/forensics/americas_miss... :)

"Reports of missing persons have increased sixfold in the past 25 years, from roughly 150,000 in 1980 to about 900,000 this year."

Fri, 11/05/2010 - 09:16 | Link to Comment etrader
etrader's picture

 "massive data error":>

Look at our primary dealer friends RBS.

When they have to use some form of Normal accounting rules... (Near $2b loss.)

After restructuring costs, amortisation of intangibles and a £825 million charge related to the Asset Protection Scheme (APS), the Group recorded a loss before tax of £1,379 million, compared with a profit of £1,157 million in the second quarter and a loss of £2,077 million in the third quarter of 2009. RBS is required to account for APS as a credit derivative, and movements in the fair value of the contract are taken as non-operating items ....Accounting (non-cash) volatility in fair value of own debt and APS costs is likely to continue. "

Fri, 11/05/2010 - 09:14 | Link to Comment umop episdn
umop episdn's picture

The chocolate ration has increased to 20 grams this week! Of course, please forget that last week it was 30 grams...that was an error.

Fri, 11/05/2010 - 09:32 | Link to Comment Cognitive Dissonance
Cognitive Dissonance's picture

The drip drip drip of Chinese water is very effective. Before you know it, while it may appear to be just some water, to you it's a 20 lb sledge hammer.

Managing perceptions and expectations is all part of the control system techniques used to pacify and satisfy. Always remember that everyone loves to be flattered and to be correct. Combine the two and you have a passive and happy slave work force.

As long as you give me a reason to be happy in my misery, I won't revolt.

Fri, 11/05/2010 - 09:16 | Link to Comment Racer
Racer's picture

People, jobs, earnings, all are totally irrelevant, as long as the banksters can make money that is the only thing that matters and the more money they get from the fed the fatter they become and poor die of starvation

Fri, 11/05/2010 - 09:17 | Link to Comment papaswamp
papaswamp's picture

Size of civilian labor force decreased by 250,000.

Not in Labor Force increased by 462,000.

Participation rate at 25 yr low....

 

...says it all.

Fri, 11/05/2010 - 09:38 | Link to Comment -1Delta
-1Delta's picture

Employment fell 300, pop grew 300, welfare added 538. The self employed are gone lol

Tue, 04/26/2011 - 13:32 | Link to Comment william.smith61
william.smith61's picture

Meanwhile, Iran's Press TV reported that a very large contingent of US ground forces had massed in Azerbaijan, near the Iranian border. The independent Azerbaijani news website Trend confirmed the report. Catalytic Converter

Fri, 11/05/2010 - 09:22 | Link to Comment Sudden Debt
Sudden Debt's picture

Lazy bastards....

Fri, 11/05/2010 - 09:22 | Link to Comment Chartist
Chartist's picture

again, it's not the news, but the reaction to the news that counts....A stronger dollar has traders on edge here, imo.

Fri, 11/05/2010 - 09:29 | Link to Comment Sudden Debt
Sudden Debt's picture

banks are green again, so it will be a good friday

Fri, 11/05/2010 - 09:23 | Link to Comment dpr10
dpr10's picture

great point TD..soon we will have +300k numbers on exactly 450k weekly claims..if you buy it that is.:))

Fri, 11/05/2010 - 09:23 | Link to Comment thrashertm
thrashertm's picture

This story was linked off Drudge. Nice.

Fri, 11/05/2010 - 09:49 | Link to Comment i-dog
i-dog's picture

How embarrassing! Must be a slow news day in Hollywood.

Fri, 11/05/2010 - 09:31 | Link to Comment Implicit simplicit
Implicit simplicit's picture

And I was just starting to feel all safe and warm tucked into the govermetal womb, being fed by the Fed bankster's umbilical cord.

Now you tell me it is really a parasitic scam sucking the life-bloood out of the middle class and their children. What a buzz kill. Who would've known?

Fri, 11/05/2010 - 10:05 | Link to Comment Spigot
Spigot's picture

Can you spell 'FARCE!' ?

If you spelled it "US Federal Government", then you win a prize! ('Federal Reserve System' wins you a prize, too)

Must not let UE exceed 10%!

Find a way to make it so!

And it is so!

Too bad for the lost souls of the minions. You have been "retired" from the government's considerations. And you will never be readmitted.

I suppose if you are unemployeed and a liability and not paying taxes THEN you must not exist!

Can't think of a better way for a truly underground economy to blosom.

Fri, 11/05/2010 - 10:18 | Link to Comment Spirit Of Truth
Spirit Of Truth's picture

When do we get to the Soylent Green part?

Fri, 11/05/2010 - 11:33 | Link to Comment Bob
Bob's picture

Too bad this will no doubt be missed as "news."  It would behoove us to keep up a drum beat on this little statistical convenience.

Fri, 11/05/2010 - 12:01 | Link to Comment Vampyroteuthis ...
Vampyroteuthis infernalis's picture

There are lies, damn lies then there are statistics. -Mark Twain

Fri, 11/05/2010 - 15:36 | Link to Comment austin_817
austin_817's picture

Interesting chart relevant to this article...
US Labor Force Participation Rate

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Wed, 02/23/2011 - 02:27 | Link to Comment shawnlee
shawnlee's picture

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Managing perceptions and expectations is all part of the control system techniques used to pacify and satisfy. Always remember that everyone loves to be flattered and to be correct. Combine the two and you have a passive and happy slave work force.

As long as you give me a reason to be happy in my misery, I won't revolt.

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Wed, 04/20/2011 - 05:50 | Link to Comment shawnlee
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