Labor Force Participation Rate Drops To Fresh 25 Year Low: 64.1%

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Fri, 07/08/2011 - 08:52 | 1435758 jmcadg
jmcadg's picture

Full retard on the way. Got physical?

Fri, 07/08/2011 - 08:56 | 1435795 Max Hunter
Max Hunter's picture

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.

Fri, 07/08/2011 - 09:27 | 1436018 johngaltfla
johngaltfla's picture

Austin Goolsbee is about to start the spinfest. Translation: This number is just because 35.9% of the people are lazy.

Fri, 07/08/2011 - 09:33 | 1436060 Max Hunter
Max Hunter's picture

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..

Fri, 07/08/2011 - 09:38 | 1436085 Cash_is_Trash
Cash_is_Trash's picture

We all know for a fact there are 6 people seeking every 1 job available.

That's why I left the country Max Hunter. The jobs are overcompeted-for and menial - no thanks.

Fri, 07/08/2011 - 09:48 | 1436136 badameli
badameli's picture

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... 

Fri, 07/08/2011 - 14:08 | 1437493 knowless
knowless's picture

not to mention that 6 would be an average over all education levels. in no skill jobs it's more like 300+ per job.

Fri, 07/08/2011 - 15:50 | 1438035 MisterMousePotato
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There was a job opening at our local K-Mart about a year ago. Four hundred people applied for the position.

Fri, 07/08/2011 - 08:53 | 1435765 FunkyMonkeyBoy
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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.

Fri, 07/08/2011 - 08:56 | 1435782 MrPalladium
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sit idle and/or party, and/or flash mob!

There! Fixed it for you!

Fri, 07/08/2011 - 09:13 | 1435920 midtowng
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I am sure am glad that we are in the 21st Century, where jobs are no longer necessary to boost asset prices.

Fri, 07/08/2011 - 09:58 | 1436208 jplotinus
jplotinus's picture

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.

Fri, 07/08/2011 - 08:54 | 1435775 Lady Heather...UNCLE
Lady Heather...UNCLE's picture

This is a dip, right? I should buy? <sarc off>

Fri, 07/08/2011 - 08:55 | 1435781 Caviar Emptor
Caviar Emptor's picture

Ponzi see, Ponzi do.....that will be the response of TPTB

Fri, 07/08/2011 - 08:56 | 1435788 Lady Heather...UNCLE
Lady Heather...UNCLE's picture

...or maybe <sarc> not off???...

Fri, 07/08/2011 - 08:56 | 1435793 Franken_Stein
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Nice head and shoulders formation.

Currently we are slipping down the musculus deltoideus.


Fri, 07/08/2011 - 08:56 | 1435794 Caviar Emptor
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Government cut 911,000 jobs over 13 months -CNBC

Fri, 07/08/2011 - 08:58 | 1435807 Max Hunter
Max Hunter's picture

Jesus.. and we hardly even notice.. That just means they must be employing 50 fucking million..

Fri, 07/08/2011 - 13:07 | 1437274 CH1
CH1's picture

And probably re-hired most of them as higher paid contractors.

Fri, 07/08/2011 - 08:57 | 1435801 101 years and c...
101 years and counting's picture

labor force drops and the UE rate still climbs?  this is just too good. 

Fri, 07/08/2011 - 09:08 | 1435891 Bob
Bob's picture

Good point!

Fri, 07/08/2011 - 08:58 | 1435803 ads56
ads56's picture


Fri, 07/08/2011 - 08:58 | 1435808 John McCloy
John McCloy's picture

Music to their else can they pretend the rate is 9.2? So what are we upto 1.9 million jobs since 09 from BD model?

Fri, 07/08/2011 - 08:59 | 1435816 MiningJunkie
MiningJunkie's picture

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.

Fri, 07/08/2011 - 09:00 | 1435820 Jendrzejczyk
Jendrzejczyk's picture

Why would anyone continue to participate in the labor force in the US? No job=no mortgage payments for a year. BRILLIANT!

Fri, 07/08/2011 - 09:08 | 1435881 RunningMan
RunningMan's picture

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.

Fri, 07/08/2011 - 09:28 | 1436023 j0nx
j0nx's picture

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.

Fri, 07/08/2011 - 09:34 | 1436065 trav7777
trav7777's picture

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.

Fri, 07/08/2011 - 10:12 | 1436302 RunningMan
RunningMan's picture

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.

Fri, 07/08/2011 - 14:53 | 1437698 ElvisDog
ElvisDog's picture

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.

Sun, 07/10/2011 - 17:16 | 1441915 BlakeFelix
BlakeFelix's picture

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.....

Fri, 07/08/2011 - 09:29 | 1436036 Max Hunter
Max Hunter's picture

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.

Fri, 07/08/2011 - 09:44 | 1436122 Cash_is_Trash
Cash_is_Trash's picture

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.

Fri, 07/08/2011 - 10:22 | 1436360 RunningMan
RunningMan's picture

Give the house back. But then move the hell out.

Fri, 07/08/2011 - 10:36 | 1436438 Max Hunter
Max Hunter's picture

So we can have 8 million more empty houses?.. What for?  Who benefits from that??

Fri, 07/08/2011 - 13:10 | 1437284 CH1
CH1's picture

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.

Fri, 07/08/2011 - 13:26 | 1437315 CH1
CH1's picture


Fri, 07/08/2011 - 09:02 | 1435837 youngman
youngman's picture

This statistic will be overlooked..but it is very showing how the USA is becoming a third world country...sure everyone has an I-????..but only one working in the household...

Fri, 07/08/2011 - 09:04 | 1435851 Caviar Emptor
Caviar Emptor's picture

Ah yes but as Europe and Asia sag, we are all third world countries this morning

Fri, 07/08/2011 - 10:56 | 1436591 trav7777
trav7777's picture

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.

Fri, 07/08/2011 - 09:02 | 1435838 Caviar Emptor
Caviar Emptor's picture

That's nothing compared to the black market participation rate. 

Fri, 07/08/2011 - 09:03 | 1435841 Everybodys All ...
Everybodys All American's picture

CNBC just has no way to spin this.

Fri, 07/08/2011 - 09:03 | 1435842 RunningMan
RunningMan's picture

Plot labor force participation against obesity rates. 

Fri, 07/08/2011 - 09:05 | 1435865 NOPOMO
NOPOMO's picture

Ben believes he can create more MAC daddy jobs for the economy if only the obese consume more.  Good times are here again.


Fri, 07/08/2011 - 09:03 | 1435847 Sudden Debt
Sudden Debt's picture



IT'S TO HOT TO WORK! (or is it to cold?)


Fri, 07/08/2011 - 09:30 | 1436042 j0nx
j0nx's picture

No, but it might be TOO hot or TOO cold.

Fri, 07/08/2011 - 09:03 | 1435848 NOPOMO
NOPOMO's picture

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!

Fri, 07/08/2011 - 09:03 | 1435852 Tense INDIAN
Tense INDIAN's picture

we should be resuming the BEARISH trend  in NIFTY:??:

Fri, 07/08/2011 - 09:06 | 1435870 Caviar Emptor
Caviar Emptor's picture

Full-time employed to population ratio would be interesting

Fri, 07/08/2011 - 09:06 | 1435872 Cassandra Syndrome
Cassandra Syndrome's picture

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.


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