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People Not In Labor Force Soar By 663,000 To 90 Million, Labor Force Participation Rate At 1979 Levels
Things just keep getting worse for the American worker, and by implication US economy, where as we have shown many times before, it pays just as well to sit back and collect disability and various welfare and entitlement checks, than to work .The best manifestation of this: the number of people not in the labor force which in March soared by a massive 663,000 to a record 90 million Americans who are no longer even looking for work. This was the biggest monthly increase in people dropping out of the labor force since January 2012, when the BLS did its census recast of the labor numbers. And even worse, the labor force participation rate plunged from an already abysmal 63.5% to 63.3% - the lowest since 1979! But at least it helped with the now painfully grotesque propaganda that the US unemployment rate is "improving."
People not in labor force:
Labor participation rate:
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actually, the ratio of male to female hours worked has stayed pretty much static, and the earnings gap (females make roughly 77% of what males earn for the same task).
Women in the Workforce (gov pdf.)
what has changed is that more females are getting bachelor's degrees (pages 9, 10), which are pretty much mandatory for anything but minimum waged p/t employment, and females in management positions, which show a notable rise since the 70's (page 11).
most likely this is where the anger comes from, as "management" traditionally provided the most jobs for the boys.
1979 was the closest thing we had next to the Great Depression (at that time) - Stagflation anyone?
"The entire 1980's / 1990's boom has now come off."
And all we have to show for it is the DEBT.
Fan-fucking-tastic .... the music .... yessssss!!! Can't wait. Great times to be head..... (yeah right)
NO MOAR JOBS!
NOA MOAR JOABS!
Yeah, but the old songs have new meaning when this much time has elapsed. Take, for instance, Foghat: "Slow Ride".
"Slow ride..... take it easy....."
When you're 20 you KNOW what this means. When you're 70 it literally means slow down, you're driving too fast and my diaper is slipping!
Think of the gold we can hide in our elephant bell bottoms.... Of course Canada will build a fence to keep out the third worlders (Americans) soon.
Bring Disco back PLEEEEEEEASE.......
I just threw up in my mouth a little bit.
And so the Carter-Obama years dovetail across the decades. Another Anti-Semitic, Islamist, socialist yields the same economic and dishonorable results. Rand Paul anyone? He could complete the circle by echoing Reagan. But could he succeed where Reagan failed? Destroy the Republican Progressive elite?
"But could he succeed where Reagan failed? Destroy the Republican Progressive elite? "
Only if he can avoid having a Bush or a Clinton as VP.
"We're back in the 19-fucking-70's." I'd dig out some ole Bell-fucking- Bottom jeans, but i don't think i could squeeze my fat ass into 'em now! We'll all be doin some Disco in the soup line before this shit is over:)
bullish for big hair and cuban heels
Bullish for terrycloth fashion sets.
The 70s fucking sucked, I was there and I remember. It was some cheesy, nasty shit in fashion, entertainment, TV, music, cars, home decor, economics.
you name it, it was piss poor. Except for Daisy Dukes legs. And that, people, is what brought us out of the 70's at last. That and Victoria Priciples awesome fun bags. And maybe Charro. That wasn't all bad.
what about ether washed
mother of pearl crystals
93 % pure...
the 70" were cool..
Does that mean bell bottoms and platform shoes are coming back?
Remember, 1979 was a good year. It is when Gold and Silver finally went parabolic... Being back to 1979 might not be such a bad thing after all. The goons at the Fed won't be able to keep it all together for much longer. There are cracks appearing everywhere.
Cue the Bee Gees...
Bring back the music of the 70s!!
Back in the 70's ?!?!?!
Shyattttt - time to break out the Leisure Suits and disco balls bitchezz
Pretty soon, it'll be 1973 and all our kids will be in Vietnam again.
229 countries (Out of 242 recognized countries) have populations that are LESS than the people out of work in the US. That is progress!!!
FUCKING PROGRESSIVES ARE IGNORANT TO UNDERSTANDING THE DESTRUCTIVE NATURE OF CENTRAL PLANNING AND CENTRAL ECONOMICS!!! FUCK THE PROGRESSIVES (Economically speaking of course).
They know EXACTLY what they're doing
Dr. Paul "I Will Break Your Fucking Window" Krugman has just lamented that the printing of money is not the problem, rather unemployment is the problem. I would say it is strange to see how this man refuses to see the connection of capital being created out of thin air suppresses capital going to more productive activities in our econmony. The floating of non-productive corporate losers direclty correlates to unemployment. Fuck off Mr. Krugman. I will ad hominem attack you next.
Oh yeah, be careful now. Drudge has linked to this article. Server overload to hit in 3,2,1......
I heard the other day that the only growth industries are dope, porn and prostitution.
Why do people have to keep bringing politics into discussions?
"the only growth industries are dope, porn and prostitution."
I can see growth in supply but not in demand. Only banksters have enough surplus income to snort coke and service hookers.
And I don't know about you, but after a while the novelty wears off of watching people fucking for money.
It will merely involve a change in scope and scale for the poor or inured folks.
Drugs for the richman: cocaine.
Drugs for the poor man: stovetop.
Sex for the richman: pay for several young things to stay over night.
Sex for the poor man: a quick blow job in an alley downtown.
Porn for the newly single: watching a gigilo fuck a whore.
Porn for the innured perv: a woman being tortured and gang-banged while being simultaneously forced to orgasm repeatedly.
Nothing ever really changes in its nature, but only the scope and scale change.
When its reached its final progression Nature does a reset.
In theology this is called a 'Period of Divine Judgement'.
There is zero growth for porn, it is a sunset industry. The internet drove a stake through the heart of the porn business, I honestly don't see how it could still be profitable.
pornography has been with "civilisation" (ohhhahahahhahaha) since time began, there will always be a market for hard dicks.
they'll just continue to up the stakes, snuff 'n' torture, debase, degrade, use, abuse, younger victims, add new fancy "drugs" consumed, yeah, this can never go away, it just fascinates so. . .
Fuck Krugman, Fuck Bernanke, end the Fucking Fed and put an immediate end to the nightmarish farce of unbacked credit ruining the entire world of its peace, prosperity, tranquility and intellectual progress.
I have a solution for unemployment since am really smart ...
We can print jobs, and we will solve the problem...
Thanks for reading
lol
Or create printing jobs!
...but only 50 million of the 90 million are participating in the SNAP market. That needs to grow moar faster.
Remember for every $1 spent on SNAP it generates $2 into the economy.
It's government alchemy I say. It's a miracle!
But they borrow over 40 cents of each of those dollars they spend, which then creates many dollars in compounbd interest. Great fucking system!
Mein Fuher, I can walk! I can walk!
He'll be back soon enough. Always just waiting in the wings for his chance on stage.
Everyone is in JAIL....Incarcerated Welfare is not fun. Plus, look at 'productivity' and all of the jobs GONE via computers and automation, never mind all the jobs that the Rich White Boyz shipped overseas. I don't see this as surprising at all. All we have now are crappy Service Jobs...'Want fries w/ that?'
88,000 "new jobs" in March.
385, 000 "initial unemployment claims" just last WEEK.
A 4 week avg. initial claims of 354,000/week.
That's 1.4 MILLION jobs lost in March (88,000 gained).
Unemployment goes DOWN???? From 7.7% to 7.6%???
life was so much better in 79' than today......i cant wait till we get to the 60's.....
Gonna get me a Cobra. :)
pods
As long as acid comes back everywhere it's all good.
What makes you think it ever left? Congress has been tripping for decades now.
+1
If Congress was tripping, there might actually be creative good things coming out of it. Maybe they got the brown acid?
+1
How Much things cost in 1979
Yearly Inflation Rate USA11.2% Year End Close Dow Jones Industrial Average 838 Interest Rates Year End Federal Reserve 15.25% Average Cost of new house $58,100.00 Average Income per year $17,500.00 Average Monthly Rent $280.00 Cost of a gallon of Gas 86 cents
http://www.thepeoplehistory.com/1979.html
Shadowstats..
'79 ... had just sold my Bandit TransAM .... stick too .... :-)
I was still suckling my mom's teet and shitting my diapers in 79.
I was eating cambells fucking soup and watching Little House on the Prarie after doing my fucking gradeschool homework. Why? Because it was the only fucking thing on TV. The other two channels had even worse shows on.
Bring back the Quaaludes!
+747 fuu da Man......................
Have a whiff on me!
http://www.youtube.com/watch?v=iIwcEDxS6TM
Back to the 60ies? Oh, yeah, oh, yeah, please! I wanna hear that again:
http://www.youtube.com/watch?v=xNSsAZN2zYs
Sadly, Mike Hailwood won't be around this time, but I can live with that ...
Here they come, PPT, knocking down GOLD
I wonder what the real numbers look like... you know the ones in the White House shredders!
I can see Krugman doing the Safety Dance
Seriously what the hell do you expect with that massive 3rd world immigration?
@malikai
Anything priced in USD will fall in relative value during a Depression. If you want the value of gold, you have to hold physical. Paper gold will fall in value during a Depression.
I'm sorry to break it to you, but the price of politicians has not yet gone down. And frankly, it's really starting to piss me off.
Could be that is just because you are not familiar enough with paying them in LEAD ...
Unfortunately, the price of lead has gone up too.
Gunbot.net
@malikai
I'm not sure there was any breaking news in your response. The political class will always be with us, so it's best to deal with it.
Yeah, now get back to work.
@ Malikai
PREDICTION:
BITCOIN will be confiscated before GOLD will.
Well, one can always try. And shut down the low-hanging fruit, like major bitcoin and bullion exchanges perhaps. But the vast majority of distributed private bitcoin or gold will not be confiscated. Also it is way way WAY easier to obfuscate and hide bitcoin than gold! Ever hear of steganography?
Gold was being confiscated before fiat even existed. Let alone computers, or even BTC.
That race was won millenia ago.
Bullshit.
I can print my wallet off onto a CD and put it away and take it back out when the governments are no longer trying to suppress the future.
The same criminals that use BTC today and that the governments cannot control will ensure that my hidden BTC will not become worthless.
Good luck with that........
All they have to do is outlaw it. Then you will never take that CD out and it is therefore worthless.
Yep, in 2007 the US gov stole my silver out of the NORFED warehouse and have not returned my property nor given any indication about them returning it from me, contacting the judge of the case and the AG.
Below is the link to Federal Reserve Bulletin April 1933.
H/T Tom Woods...
80 year anniversary, horray.
The way the fed talks about Gold Hoarders
seems like a scene out of Atlas Shrugged.
http://fraser.stlouisfed.org/docs/publications/FRB/1930s/frb_041933.pdf
Sincerely,
Johnny Utah
Ohio State Buckeyes All-Conference, remember? Number 9
dbl post removed
@tarsubil
Your understandable sarcasm not without standing, the participation rate will continue to fall for years to come.
Really, no need to visit a third world country anymore.
Forget the Americans with Disabilities Act-
Time for the Americans with No Abilities Act...
But let me expand this:
Last month:$85,000,000,000 in QE/88,000 jobs= $965,909 per job,
so 965,909x90,000,000 without jobs=$86,181,818,181,818. till full employment
at the current rate it is only 1022 months away! or 85 years.
Let me tell you now, QE is NOT about jobs.
Funny how that 86 trillion is the same as the total unfunded liability of the Goobermint- wow simple math.
I will gladly do a different job for $965,909. Where do I apply?
Fuck work, swipe yo EBT!
The bloodline: https://www.youtube.com/watch?v=2FEtlO6_ulQ
Its' free, swipe yo EBT..
http://www.youtube.com/watch?v=xLTTX35LNJo
We just have to get those factories running again and the boys will build America back to greatness. Oh, wait! That's right, never mind.
What's a "factory"?
Sounds like a cool app.
I don't need no steenking job- Bathhouse Barry's got my back
No jobs. No economy.
That is a great wish to hold on to, but I fear I may never live to see that day.
There is a cancer in this nation today, it feeds on government dependency.
When that changes, so will the fate of the Republic.
Who is John Galt?
Some of this is to be expected. After all, the Baby Boomers ARE in retirement mode.
When 50% the nation stops being dependent on government, our national cancer might go into remission.
In the mean time, I'm not holding my breath.
Who is John Galt?
Eeventually that dependent population will start working rather than starve or the nation will break up becausse the federal government wont have the funds to keep paying states to stay part of the union.
I don't know Jim, most of the ones I see would suffocate rather than work to breathe, they're lucky respiration comes naturally.
And dont forget all those people who are now self employed or "freelancers". When the guberment adds them back in the unemployment rate might go down to 6.51%, just shy of the 6.5 needed by ben shalom to cut the morphine drip. DAMN we were so close
A CANADIAN analyst states the US is booming..His name is Garth Turner the man of disinformation. Another Krugman
Party on Garth!
Yes, but despite all the grim news, everything is good right?
I mean despite no jobs, stagnant wages, soaring food prices, soaring food stamps and EBT'ers, millions of underwater home owners and millions of shadow inventory.... and so on...despite all this the rumor is, "the economic recovery is on track" they said on TV this morning.
I just bought fannie mae because the pumping is going to continue. And Rush Limbaugh just mentioned this article on his show.
How do I get invite to this cool central planning party??!!!!
Polish yer stinger watching CNBC in full view of a drone.
Pretty soon they will count being unemployed as having a job.
The people working for the Federal Gov. don't realize they are on welfare and the people on welfare think it's a job.
Hey now AssFire, counting TURDS is IMPORTANT!! Since most .gov jobs are little more than turd counters.
The vastmajority of federal workers are good people, hard working and idealistic.
The ones who are not so honest tend to go higher up the management ladder for some reason.
The federal government has done a lot to improve all our lives.
But it was not done under socialist policies or a dictatorship.
WTF?
Fuck I am gonna sign up for twitter just to send that one out!
Like Guinness.
BRILLIANT!
pods
Seems the unemployed people printer is keeping pace with Ben's fiat-o-matic.
(maybe Ben had his signs wrong on the money-jobs correlation...)
Hope and Change.
Mister can you spare some change?
There is no hope for you - fucking bum!
Thank you BernanQE! If the elites wanted us to go back to the Stone Age, a simple Soviet-style decree would have been much more efficient.
They're test-marketing the Cypriot decrees for now. Soviet decrees are in the bullpen keeping powder dry.
employment to pop dropped to 58.5% .. from 58.6% last month
recession coming bitchez.. .and productivity growth is crap so there goes your REAL GDP growth.
recession coming
Umm...
...recession continuing?
...depression metastacizing into all out social break-down?
...global financial train-wreck moving to Inception level 3?
...four deja vu black cats just spotted in the CB Matrix?
...main economic stimulus is folks expanding their personal ammo dumps?
This is becoming a joke. How can anyone think with a collapsing participation rate that the economy is anything but terrible?
well MSM and Homie Pres. tells them we're recovering ...
Green shoots, bitchez.
Yeah, the slow-motion implosion is gathering steam. Reality is protruding into the party line's cognitive dissonance.
Well, they could always just lie bigger. Reality doesn't seem to be much of a concern for our sociopathic leaders.
Becoming? Uh? This has been a joke for such a long time ... even I can't remember ... and I am very old in that respect ...
True.
Makes perfect sense. Tell everyone its getting better, and the only people who know the truth are the producers in the economy. Well there is not enough of them to give a fuck a bout. Everyone on the dole says look, its getting better because there life doent change and that is what they hear. And the liberal fucker who works for NPR, or the FEMA or FDA or anything else where they dont give a fuck doesnt understand why the other side cries bullshit.
it's about time for something to blow up so that we can blame it on the North Koreans
Long bingo halls and scratch tickets.
Population
2003 219897k
Today 244995k
= +25098k
Workforce
2003 145301k
Today 154512K
= +9211k
Anyone notice the issue here?
newborns maybe ?
Big numbers make my head hurt. Back to da TV...
Where did you get those numbers? lol
(I will now have Steely Dan's song "where did you get those shoes" Pretzel Logic going through my head for the rest of the day.....http://www.youtube.com/watch?v=Xaw0oDqDFlY)
2013 315 Million
2003 291 Million
http://www.commerce.gov/blog/2012/12/28/census-bureau-projects-us-popula...
http://data.bls.gov/pdq/querytool.jsp?survey=ln
Yeah looks like about only 1/3 of the incoming population was added to the work force
Classic head & shoulder formation on the Labor Force Participation chart!
I noted that too... anybody got a theory on that?
http://curvilinearwaveanalysis.blogspot.com/
Yer young and you got yer health. What do you want with a job?" [/Evelle Snoats]
In 1979 I had a cool paper route. Now I do not. Thanks a lot for that jobs program obama-mama
Obamanomics bitchezzzz.
They figured out how to make Socialism work this time around. :) NOT
Don't be pawns. Resist your instinct to be corralled into a political camp. Obama is a puppet in a system that would gladly swap him out for a puppet from the other party. To think otherwise is to be part of the problem.
It doesn't seem to matter how many times that's mentioned here.
Does this mean that the scheduled COMEX raid program will be put on hold for a few days?
Long EBT, Food Stamps, Section 8's and free cell phones.
I guess today is the day the govt statistics start reflecting reality.
Yeah, it's going to be all the fault of sequestering..... get the goats ready for slaughter...
I'd like a shank, please.
American exceptionalism - why work when you can print your way to prosperity?
Japanese exceptionalism..... why work when you can print your way to prosperity?
(fixed that for ya....)
"the BoJ is monetizing at a rate around 75% of the Fed on an economy that is one-third the size of the US!" Bass
Central Bank exceptionalism. (fixed that for ya...)
lol
Is 305.00 for a 10oz San Fran mint silver bar a good price???
Seems like a bargain to me!!!
See a dealer comparison here:
https://comparesilverprices.com/
Thanks for the link! This will come in handy.
Wrong question. What would you SPEND 305 on today that would be more valuable to you than STORING the purchasing power of 305 fiats.
Saying this is in recovery, is like pointing to a corpse that just farted.
Trololololo
My family now thinks Im insane because of my outburst of giggling that still hasmt stopped.
Haven't bought bars before not sure on % over spot normal pricing in the business.