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Labor Force Participation Rate Drops To Fresh 25 Year Low: 64.1%
This chart needs no commentary. At 64.1%, the Labor Force Paritipcation rate just dropped to a fresh 25 year low: the civilian labor force declined by 272K from 153,693 to 153,421. And tangentially, the employment to population ratio also slumped to a multi decade low of 58.2%.
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Full retard on the way. Got physical?
No.. NO.. NO.. This is only because the massive jobs being created are paying enough for 1 person to support an entire family of 4 with, thus negating the previous need for 2 working adults like before.. Come on man.. Get with the program.
Austin Goolsbee is about to start the spinfest. Translation: This number is just because 35.9% of the people are lazy.
Well of course.. I love when people complain about the number of people not working and say "they just don't want a lower paying job".. What bullshit.. We all know for a fact there are 6 people seeking every 1 job available. They want to ignore math and put the blame on some kind of human nature that propels all the lazy people to suck off the teet.. I guess it makes them feel better about themselves..
That's why I left the country Max Hunter. The jobs are overcompeted-for and menial - no thanks.
There is a little bit of legitimacy in the comment of "lazy people don't want to work". But that's more of a cultural issue, not something that drastically changes over 3-5 years.
As an example, look at some of the aboriginal situation in Canada, or some issues with welfare recipients that we have (or issues with seasonal employment in NL&Labrador). Best you can do is keep that sub or counter culture to a minimum.
The good news:
It takes decades and generations to change people to give up hope and not want what their neighbours have. To change them not to aspire.
The bad news is that the more you prolong the "pain" the more you're forcing hardship on those who have lost jobs + are making it so they cannot get out of their situation, nor will they want to (or think they can). Go slave labour, or beaten wife syndrome...
not to mention that 6 would be an average over all education levels. in no skill jobs it's more like 300+ per job.
There was a job opening at our local K-Mart about a year ago. Four hundred people applied for the position.
Don't worry no jobs needed in Amerika.
All problems can be solved with printing fresh $dollar and/or cheeseburger/beer lifestyle can be subsidized by 14 year old worker in far east working 18hr day so average american (and other western economy) joes can sit idle and/or party.
God bless america.
sit idle and/or party, and/or flash mob!
There! Fixed it for you!
I am sure am glad that we are in the 21st Century, where jobs are no longer necessary to boost asset prices.
Let's complete the thought:
Therefore, jobs are not an important indicator of economic health.
Taking this a step further, beginning in, say, the 1980s, when outsourcing started in earnest, it could have been assumed that the US would have fewer jobs.
It must have been contemplated that the US was to become a society where work was less important. That is what getting goods for cheap from WalMart really means; namely, you can buy what you want for low cost. The only problem is that what you buy will be manufactured elsewhere than here.
This is 'cause and effect'. We have become a society where work is simply not available, but cheap goods are.
This is a dip, right?...so I should buy? <sarc off>
Ponzi see, Ponzi do.....that will be the response of TPTB
...or maybe <sarc> not off???...
Nice head and shoulders formation.
Currently we are slipping down the musculus deltoideus.
Government cut 911,000 jobs over 13 months -CNBC
Jesus.. and we hardly even notice.. That just means they must be employing 50 fucking million..
And probably re-hired most of them as higher paid contractors.
labor force drops and the UE rate still climbs? this is just too good.
Good point!
HOPE AND CHANGE! YES WE CAN!
Music to their ears..how else can they pretend the rate is 9.2? So what are we upto 1.9 million jobs since 09 from BD model?
Think carefully - QE7 is absolutely guaranteed and the U.S. dollar is going to crash. Everything denominated in FRN's is going to go UP. Sell Cash, short cash - you are shorting the U.S. dollar by jettisoning CASH. so yes - you have to BTFD! Just bought a few more September 38.00 silver calls at $1.20.
Why would anyone continue to participate in the labor force in the US? No job=no mortgage payments for a year. BRILLIANT!
There are two kinds of people defaulting - those who can't pay, and those who won't. Unfortunately, the supposed cure for either is the same, although the latter is more problematic. Those of us who paid, and played by the rules, must now subsidize those that won't. They are no better than the i-banks/squids that "cheat" referencing an earlier ZH article this morning. We are a country plagued by selfish deadbeats.
Alas it is more complicated than that. There are many people out there like me whose neighborhoods went to shit when the RE market crashed and are now filled with illegal aliens and section 8 losers who don't follow the rules and generally make life miserable for the original owners who are now underwater and stuck in a rapidly declining and unsafe neighborhood. I am one cunt hair away from purposely defaulting for that very reason as there is no other way out. Get off your high horse there sparky.
you're just a RAYCISS
Diversity is OUR STRENGTH, ok? And you're here saying that it's not, that makes you an Enemy of Everything. Look, we just got a 30 foot tall MLK statute on the mall. I think they should tear down all the other monuments and replace them with MLK because MLK is literally the most significant person in the history of people. I mean, gfdit, he HAD A DREAM, ok? And that's special because nobody ever did that before.
I will concede that you are a victim of the times. And you do have a free option to default. But I do have a problem with people that default and then simply squat in their homes. That is a clear breach of contract both legal and social. So I'll stay on my high horse thanks, since I lived well within my means and bought a home I could afford when everyone else was living large.
I don't think there is any legal obligation to pay most mortgages. You can pay if you choose to, and if you don't the bank has the right to foreclose on your house and kick you out. I wouldn't blame the squatters, I would blame the banks and the government that are intentionally letting people squat.
Then fine the squatters, tack the fines on to the mortgages that they aren't paying, along with the interest, and call it profit on their balance sheet. If you don't have to mark to market and you can borrow operating expenses, a squatter is more profitable than someone up to date on their payments. At least as far as your balance sheet is concerned, and you never actually sell the house and take the loss.....
People do what's best for them, not their neighbor. Don't give me the moral hazard bullshit. Especially when it only applies to people living check to check being told they are fucking the world if thy look out for themselves and make a decision to give the house back to the bank. It's a contract, nothing more. I love those that complain their house value is declining because of foreclosures. This is not true, their house value is declining because it was never worth that much to begin with.
Well there's an illusion of prosperity when most crap is paid with credit.
Just look at the bubbles in education due to easy credit, same as the bubbles in housing.
Give the house back. But then move the hell out.
So we can have 8 million more empty houses?.. What for? Who benefits from that??
Those of us who paid, and played by the rules....
The guys who keep the rules ALWAYS get screwed. Give it up.
You don't need their idiotic rules to be a decent, moral person. Actually, you'll be a lot better without them.
Duplicate.
This statistic will be overlooked..but it is very important...it showing how the USA is becoming a third world country...sure everyone has an I-????..but only one working in the household...
Ah yes but as Europe and Asia sag, we are all third world countries this morning
no, europe is not 3rd world...they haven't imported significant enough 3rd world demographics to get there yet. Give them time. They want to have the strength that is our diversity.
The greatest achievements in history were only possible through diversity. Think about it...Columbus sailing to the New World. Tons of diversity. The Apollo Program...diversity everywhere. Manhattan Project...diversity. I mean I watch the Hollywood depictions of these things and I see a rainbow of colors, it looks "just like America," and just like all the audiences they select to stand behind the President for any speech. I mean, even the Norse Gods are diverse.
That's nothing compared to the black market participation rate.
CNBC just has no way to spin this.
Plot labor force participation against obesity rates.
Ben believes he can create more MAC daddy jobs for the economy if only the obese consume more. Good times are here again.
IT'S BECAUSE OF THE WEATHER!!
IT'S TO HOT TO WORK! (or is it to cold?)
No, but it might be TOO hot or TOO cold.
Buuut wait...isn't equities the cheapest they have been in 25 yrs.
This administration is a bunch of charlatans. As I have said before....they need to go and go NOW!
we should be resuming the BEARISH trend in NIFTY:??:
http://markettechnicals-jonak.blogspot.com/
Full-time employed to population ratio would be interesting
U6 Unemployment has increased from 15.8% to 16.2% Seasonally adjusted, non adjusted it has increased from 15.4% to 16.4%.
The drop in employment was a massive 445,000 as a lot of people left the Labour Force. Shocking jaw dropping figures.
The Shadow Government Statistics figures should be interesting later.
The WH gang will release raising the debt ceiling comprimise over the weekend to push equities higher. Never thought the WH were gambling junkies. Just need a few more dollars to keep playing...crack open those pension accounts so we can continue the next hand.
'Keep pushing equities higher, someway, somehow'....good I hope they do the higher they prop this crap the faster and further the worthless bubble falls and the more my PM's will go up. Great.
PM's don't go up, fiat dollars come down, eventually come crashing down.
Dollars = Assignats
Anyone who currently has a job (an actual job, not a desk job at a WS firm) could have told them the job market it shit. They either want years of experience for 1/2 the pay or will pay minimum wage to flip burgers and mop floors.
Wonder what the numbers would look like if the government wasn't sanitizing them?
My girlfriend would agree. She got laid off from her salaried job for 6 months and then called back for a lesser HOURLY job at 2/3 the pay. Now they expect her to do the same kind of work for the next 2 weeks that she was doing before she got laid off. Needless to say, she is not a happy camper right now and is taking that shit out on me.
Man you got to show her the pimp hand, thats all.
Indeed. It's her fault for being born a woman.
SEXIST!!!
OK, Ben's got a problem:
He needs a strong(er) $dollar to be able to get away with more QE... trouble is, the $dollar basket is at lows and getting lower on todays NFP figures...
... looks to me like Ben can't print with the $dollar so weak already.
Looks to me like we now DEFINATELY need an 'event' to cause the $dollar to become stronger (Europe collapse, false flag attack is now NEEDED).
Jews set off false flags. Now junk away, monkeys.
-edit- But Funky's post got no junks, although it said the same thing. Wow you junkers are real smart.
You're not supposed to say these kinds of things. You can't say blacks commit crimes or asians are smart or mexicans work hard either even if they are the truth. You sir, are being sent to the political correctness rehash rehabilitation camp.
I've been saying for years that in the future when historians look back on America that they will overwhelmingly agree that political correctness and the inability to do what was needed due to that will be regarded as the SOLE reason for our demise as a country and as a people.
I feel SHOCKED, where'd all the labor force go? Oh right, I forgot we sold off all our jobs to China. Shockedness deleted.
Don't feel shocked SD-1, just look at all the manufacturing equipment for sale on Ebay. A dime on the dollah for it, and we're not going to make it in the US until wages are comparible to the third worlds. Sad, but true.
Mayhem Bitchez.
Behold the disastrous effects of globalization upon the middle class in America. The elites have effectively exported America's wealth and left a chasm in the middle class.
44.7 million Americans on SNAP/Food Stamps in April of 2011.
What a FUBAR economy we have.
It is not that stocks are "cheap"; it is because it will take many more FRN's to buy a share of AAPL when the DX craters to 55. Sell U.S. dollars = buy anything else including stocks.
Yep, but all those who have been stockpiling PM's are now their own central bank. Forget stocks, theyre fake.
Change you can bal'ee in bitches. Obama gone pay mah mo'gage!
Obama he gwan buy mah gas yo!
Don't worry black markets are doing fine. In fact I had a neighbor ask if he could pay me for some water from a well near one property line (all tax free of course). I said sure. Fuck the central planners, many folks getting by just fine. The moral hazard was unleashed long ago. Without prosecuting the fraud, at all levels, more and more people will simply unplug from the centrally planned system. Time to take this paper and buy more physical.
hedge accordingly.
The IPhone, XBox, plasma big screen, and 3 meal per day from fast food USA will just 'unplug' and become Jeremiah Johnson?
People do whatever it takes to survive. Always have and always will. Perhaps you should consider being productive instead of just blogging. Just saying, I see a lot of people keen to identify the problems, but few willing to provide a solution or (gasp) work towards a solution.
Why work? Big Brother will feed you, clothe you, shelter you, and make sure you have little walkin' around money.
Why work?
In a FEMA camp.
Now....take the 272,000 reduction in the work force and add to the Birth-Death adjustment of 131,000 then subtract 18,000 jobs they state were created and you get the real job loss number: -385,000.
No doubt, US is a hollowed out shell. Hopefully people saw the writing on the wall and have gotten out of paper long ago and bought PM's to become their own central banks.
I wonder how they compute Monedas in their statistics ? Category: Chronic unemployed and unemployable with bad attitude and work habits ? Monedas 2011 Good morning my little Hoarder Prinzez ! Countdown on Space Shuttle and New Deal full speed ahead !
Even with these massive tweaks in the numbers they could only just barely eek out a positive 18k.
Serial junker back, maybe its Robo due to his many calls of 'Equities are not pricing in QE3, equities are pricing in a massive consumer and jobs fueled recovery'
There is one seriously cognitively dissonanced person out there. Poor fella. It must be terrible walking around all day junking everything in sight in order to feel better about your own denial.
Make no mistake about it, remaining in denial takes a lot of hard work.
Labor costs BAD!
Corporate profits GOOD!
Banker-be-happy.
Unexpected.
Who could possibly have forseen?
Employment-Population ratio has bounced twice before over the last two years at 58.2. If June 2011 58.2 is breached to the downside, it will be the lowest in nearly 30 years (July 1982).
Cut off unemployment after 99 weeks, and allow idiots to move to north dakota where unemployment is 3%.