This page has been archived and commenting is disabled.
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:
»
- 226625 reads
- Printer-friendly version
- Send to friend
- advertisements -
Can anyone provide a link or tell me who is included the the labor participation rate?
Does this metric factor in "under 18" and retirees? Or does it only reflect participation in the "working age" group?
Post a bitcoin address and I'll send ya a tip for the help.
Now I can share these great charts with my non ZH reading family and actually have a clue what the charts really mean.
When we pass through the singularity, the entity with self awareness may look upon us as we look upon ants. Welcome to Economy Ver.1.0.
90M people have given up on life, now. That's about 10M more people than 5 years ago. The economy must be roaring back.
Work != life
I'm just going to say this, even though it won't be popular.
Those people actually started having a life.
They gave up on corporations and 80 hour / no benefits 'lives'.
As many people are in the labor force today as when I was 4 years old?
Why look for work, as long as the gubmint checks don't bounce...
And yet the serfs complain about the cost of keeping TBTF open for the "business as usual" of allowing those serfs to use an EBT card to move digital dollars from one customer account of TBTF to another customer account of TBTF. Funny how that "money" never actually leaves the banks anymore... PROGRESS!
welfare, it's the new american way of life!
Not for long!!!
STARVE THE BEAST!!!
Should we be surprised by this?
Rather than trying to create policies intended to stimulate the environment for new businesses, we have elected morons obsessed with prying into our civil liberties and enabling bankster capitalism and we have a genuine numbskull setting monetary policies designed to protect the privileged.
They shoot horses don't they?
it would be so much easier if I was privileged.
And we have a self important vacuous bloviator as our National CEO.
more like stuff shit heads in paper bags, light it on fire and see who is dumb enough to try to put it out!
All current government policies are designed for only one end. That is dependency on government, whether it be through direct payments in entitlements, welfare, disability, unemployment, green jobs, government jobs, or financial jobs dependent or QE. And its working. Hell, even ZH is dependent upon a corrupt and evil govenment.
No, that is half of the picture. The full picture is government dependence as a form of crowd pacification to protect the plutocrats against the violence of popular insurrection. When the juice finally runs out, it will be all up to Homeland Security and the millions of rounds of ammo being bought up daily.
I believe that is "Billions" of rounds of ammunition. DHS alone has close to 2 billion. Enough to shoot every American man, woman and child 6 times over. They must be really bad shots. Janet "Don't Call me Annie Oakley" Napolitano is Reinhard Heydrich - Head of the Gestapo
Hey Mr Banzai7;
It would be real interesting to see a graphic of how big billions of rounds DHS ordered looks like against a skyscraper, like the dollar illustrations ZH uses.
That may wake a few people up. :)
All your jobs are belong to us.
FORWARD!
What you mean is: "MOARWARD!" Right? RIGHT?
http://bearingdrift.com/wp-content/uploads/forward.gif
Baaahhhh!
What we need is a really good crisis! Koreans are presently loading dead Chinese chickens into warheads aimed at America.
Silver up only 20 cents on the news that US growth is fiction and US will never repay its debts, let alone the Fed reversing its QE ever.
Meanwhile debts and unfunded liabilities increase faster than $8.2 trillion a year.
Silver should have been up a couple of dollars and gold about $50.
Drudged. Again.
Will some Obama stooge blow it and name ZH to their enemies list driving millions to the site? Hold onto your hats.
Nice to know that he visits on a reqular basis. Hey Matt, hows it going? Nice hat, BTW....
Let's see.........they get rid of the uptick rule in '08 and now they change the circuit breaker to trip at 4k+ ?? I must say my paranoi is setting in.
There's not a recovery now, there won't be at DOW36k. Amazing how these stupid fucks think.
In 79 I was getting handjobs in the back seat of my vega. Now I have an Audi and wish I could go back to the vega and get another handjob....
Buy a vega and give yourself one.
Well, they do say that self help is the American way.....
Your Vega was still running in `79?
The only things people are buying are guns, ammo, booze and lotto scratch off tickets. We live in interesting times.
Mayhem, Maybe 22LR ammo if I could find it but that is a good response to my question. Thank you.
just got a brick from "cheaper than dirt"
very expensive, like 30 cents a round for 40 grain hard nose bullets
0hedge leads on Drudge Report! Nice
I'm hoarding my Nuka-cola bottle caps since they are backed by Bitcoins....
Look out for the Quantum-, Quartz- and Victory-Caps, since they are much rarer than the ordinary nuka-cola. And you also need to search for Sunset Sarsaparilla star bottle caps ... ;)
You sound awfully familiar.
I hope so
For the shills out there, the labor force for those 55 years of age and over, dropped
Jan to Mar
33136k to 33038kThats -98k.
The labor force under 55, dropped
Jan to Mar
-528k
No people. Its not because of retirees.
oh messy little facts, progressives don't worry about such trifle...
You know the Progressive vs Conservative puppet show is there to distract you from the real Oligarchs running things right?
It's party because of retirees. Partly other causes. I think the favorable taxation of capital versus labor is pushing down participation also.
According to the numbers, only 20% of the labor force participation rate is falling due to people over the age of 55. The rest, 16-54, make up the remaining 80%.
Yeah, I think you're right. Looks like not much due to retirements. Participation rates in all segments over 55 years of age are rising.
Does anybody actually know why?
My guess at the reasons: A) structural - people retiring, more kids in school rather than holding jobs; b) cyclical - wages suck (because taxes favor capital).
Why would a tax rate that favors capital negatively affect employment?
Because it's cheaper to build plants and buy equipment than to pay people. It's a theory, but the peak in participation is at about the same time that capital gains tax rates were lowered by a much larger percentage than wage tax rates. Maybe just a coincidence. I don't know.
I just don't buy that argument. Who is building those plants and machining, assembling, testing, and delivering that equipment? What happens if higher tax rates on capital make those purchases unattractive/impossible in the first place?
But whatever, let them raise taxes on whatever they want. Take it all if you'd prefer. We're heading that way anyway and we're in the midst of a grand experiment as it is. Weeeee...
My preference would be to equalize the taxation of capital and labor in a revenue neutral way.
You're right, you don't know. Try again, or not....
The taxes people have to pay on wages make them demand higher wages for work, and choose to earn money from capital if they don't get those wages. Potential employers find it cheaper to invest in capital equipment rather than pay the higher wages demanded.
You really think wager-earners just up and decide to invest in capital if they can't find wages that suit them? You're going off on a line of thought here I can't really follow.
Taxes went up 2%. That's 2% less money to buy stuff. That's also why the retail sector took the biggest hit in job losses... which is also why the 20 and 30-somethings keep losing jobs. the 40 and 50-somethings aren't letting go of the good paying jobs. They're haning on with dear life while Jr. lives in the basement and applies to McBurgerFlipper jobs with his Bachelors Degree. Oh, and the economy still sucks. That's "Why".
No that's not it. Taxes just went up this year. Participation rate has been dropping a long time.
"Screw this, I'm going fishing."
"So long, and thanks for all the fish!"
Dolphins are only the 2nd smartest animal on the planet. It's the mice that are truly the smartest.
Oh, and the answer to the meaning of life is 72.
Is that how many roads a man must walk down, before you call him a man?
42
You didn't catch those fish on your own
Obviously, the labor participation rate is dropping because so many people are getting rich in the stock market that they don't have to work anymore!
Sell More cars SUBPRIME and no doc mortgages FHA loosen those credit lending guidelines,
PRINT ANOTHER TRILLION FED, DO IT,... for the children. heh heh.
Good thing the governmint's hiring or we'd be in real trouble.
Looks like Woodstock recycled. People are not willing to work for the man. :)
We lack good alternatives, so no real change will happen that could change our path. The dream of the bigger home, the new car and the really cool vacation are really hard to abandon for a frugal lifestyle demanding sacrifice and hardships, simply to ensure survival. There looks to be plenty of people who would likely rather die than even downsize their home, much less give up credit card purchases. After spending 40 years observing employees, I can tell you that outside of natural disasters, peoples lives are pretty much what they make them. Married people with kids living a realitive debt free life while single people with no dependents living paycheck to paycheck, every day on the verge of financial collapse if not jail time. WE are our greatest enemy. Obama just puts a face on it.
If WE ever decide to stand together on matters economic, alternatives will emerge through very necessary changes.
First up is foreclosing on those who've claimed the deed to the planet, assessing the true damage done and sending those fuckers the bill for the remediation.
Next up is banishing war for profit. I'm sure some reparation is due there too.
Two things to start with.
I'm sure there's more.
PM shorts need to cover now and go long.
Open the link below.
Click on the 'D' (or day) time frame and back out until you can see 2011 to today.
Then select the volume bar chart to show.
This is global silver trading volume; enormous over past two weeks.
http://netdania.com/Products/live-streaming-currency-exchange-rates/real-time-forex-charts/FinanceChartPopUp.aspx?symbol=XAGUSD|netdania_rta&name=Silver,%20cash
What part of "Fundamentally change the United States of America" did you not understand?
Welp, nothing here about gays or guns, so I really don't know what to think. Did anyone else see the thing that happened to that person who is famous??? INSANE!!
Yeah, I know. Its really sad the passing of Roger Ebert.
Parade at 10am, followed by the 5 minutes hate promptly thereafter.
Bring your party membership badge(s)!
Congrats on making top billing on Drudge!
From Jan to Mar
All workers employed: 143322 - 143286 = -36k
Over age 55: 31164 - 31206 = +42k
So those over age 55, 42k people got jobs, everyone under 55...
Well thats a -78k there for you.
obama has brought us 'hope & change' in his golf game?` but,... the burnak' & co. have brought the country to its knees-- for more on this story, go to 'frb', bailing out european tbtf's in ussa... because its the right thing to do?
That 70s show. Ashton Kuster can play Ben Bernanke.
the employment numbers are all bullshit so the participation rate is also a bs number...IT IS ALL MADE UP...! how can any real analysis be done with bad numbers. it is almost a waste of time to even write about this......
You may want to read some Austrian economics.
Let me get this straight, more the people stop looking for jobs, the lower is the unemployment rate.
So all we have to do is wait till no one is looking for a job because no jobs are available, then according to the current method of calculation we will have full employment. The fact that participation labor rate will go through the roof will have no consequences whatsoever on the economy.
Politicians are best at barking crap. Economic calculations and interpretations are not exactly their strong points.
http://www.marketoracle.co.uk/Article35345.html
www.letstalkmoney2012.in
When NYC is buried under a mile of ice like in the movie AI toward the end, the ET explorers will find a humming Algo server trying to front run a market long before abandoned.
And roachcicles frozen while negotiating twinkie wrappers.
Damn sequester... If it wasn't for those stingy republicans this economy would be rolling right along. Seriously though.... The stupid fucks fell right into Obummer's trap again. Anybody with 1/2 a brain could see this one coming.
Yeah - that 85 billion dollar decrease in the rate of spending increase is a real economy killer. Second derivatives, anyone?
If they were smart they would have just let him spend it so that he doesn't have a foil to blame his failures on. Shit it's only one month's worth of printing for the Bernank.
as the Banksters laugh all the way to the hills safe from angry voters..
Who wants to be in the laborforce anyway: delivering pizzas, flipping burgers and pouring drinks for people other then yourself
Who wants to be in the laborforce anyway: delivering pizzas, flipping burgers and pouring drinks for people other then yourself
I do!
I do!
;-
Show me what democracy looks like, this is what democracy looks like.
And these results are based on rigged up algos. That means reality is so much "better".
Hey, we're not far from Japan in labor force participation!
http://news.yahoo.com/wanted-mcdonalds-cashiers-college-degrees-20434474...
That can't count.
Don't count..
Or was that a Wall Street ad?
I thought 48M Americans on food stamps was bullish.
START EXPLAINING KRUGMAN!!!!!!
His standard comeback is 'we didn't stimulate enough'. Just like when I come back from Vegas and tell my wife I lost because I didn't gamble enough money.
The Babyboomers have started to retire. The labor market will continue to dwindle as more and more retire. That might sound good at first until the entire picture comes into view. As they retire their desposable income dries up. With low interest rates their returns on their retirement savings also dwindles. They Babyboomers begin to receive Social Security and Medicare.
The Babyboomers drove the largest economic advance in history and as they leave the working world and enter into retirement they will fuel the healthcare and some service industries. They other industries will contract and some may be decimated.
If that was all that we had to worry about we would be able to eventually adjust after some hard economic times. Now we have money printing by The Fed and huge deficits to also worry about. This will not be a soft landing, folks. The printing pumped the balloon up for a little while longer and just brought us up higher so that the fall will be worse when it finally pops!
Prepare!
No...
Those over 55+ labor force...
Jan to Mar
33136k to 33038k
Thats -98k.
The labor force under 55, dropped
Jan to Mar
-528k
This does not prove whether retirement is contributing to the reduction in participation rate.
Do you believe many people retire before 55?
i have...but i prefer to call it "dropping out" with a hat tip to the 60's!
i am spartacus
Me too.
Retirement? What the fuck is that?
Which table are you looking at for those numbers?
http://data.bls.gov/pdq/querytool.jsp?survey=ln
employment level and labor participation can be seperate by age groups
"reality"
We now exist in an illusion. Imaginary liquidity is created and pumped into the economy. This replaces the actual production of value, by labor, materials and capital.
How long can we pretend that this formula is functional?
The alternative to this fanasy which we all take part in, Is horrific.
The boomers slowly turned socialist and let the scum run wild their whole lives and now they get to see what that got them. Fucking keeping up with the jones greed, never saying a word about the lies everyday. The real "Me" generation. Let it be? Let it be?
Some number jockey at the BLS unwound that "extra" seasonal adj a little too hard this morning. I guess that's okay as long as we're not just ahead of a fed meeting.
Some number jockey at the BLS unwound that "extra" seasonal adj a little too hard this morning. I guess that's okay as long as we're not just ahead of a fed meeting.
Well at least on an average basis....Wall Street is making trillions off the printing presses at the FED.
Hey guys, let's go buy some houses!
Then hire an army of pro. arsonists or let the owners move back in (you can become Shizzmoney Bank). Somebody's has to fix it, it might as well be Shizzmoney Bank..
................................................
JOBLESS MEN
KEEP GOING
We can't take care of our own
.................................................
When the labor participation rate hits zero we'll know that the zombie robot android workforce is doing all the work. I look forward to the day.
Clearly, the norks and chi-coms recognize that Hussein Obama is more or less on their side.
And the day before all work is done by robots, there will be only one workplace in the country, so if there is one worker to do said work, the participation should be shirley 100 %, right?
The fuckers will start a war. You can do all kinds of bullshit while the population is captivated by wholesale slaughter.
It's all doubleplusgood! All hail Doublethink!
It's all part of the five year socialist plan. Give 'em what they want...more welfare! How else would the Kommies secure future votes if not buy them? When people go on welfare, they tend to stay there as fewer than 5% ever leave the comfy government goodies program. Socialists certainly can't depend on their sterling record of creating growing economies and rising wealth to generate future votes. How are these people living? Must be the underground economy creating most of the jobs.
Ha! Yeah, that's fucked up. I can't wait for the welfare calls to start telling me they can save me $1000's if I go on welfare and quit working. Those poor bastards that have to work at the welfare office, they should go on welfare....lol
Don't buy into this. The DOW will rally 100+ pts Monday and totally erase today's losses. Happens every time.
I'm not saying World War 3
But World War 3 or a Biblical disaster or Krugmans Aliens are the only things that will make a dent in that slump.
Or equalizing the taxation of capital and labor.
That would be real helpful when labor has almost nothing to tax. Taxes should be levied in proprotion to wealth. better yet just print the damn budget and kill taxes all together.
Another wave of mortgage and credit card defaults coming. Maybe it's time Barrak Ceasar grant his subjects a jubilee!
Abe is bluffling. The Bernank should call and raise him to $2 Trillion and call his Bluff!
QUOTE of The Year award.... Rick Santelli, when you have "Conterfit Growth" you understand why demand for bonds is still there.
Time to stop QE.
It's harmed the economy way too much.
ekm, they don't care about the economy at this point. qe cannot stop. who'll pay for the budget deficit otherwise?
Need more immigrants ... ~cough~
I got a couple hammers and I know where there is a parking lot full of cars. I'll create some fucking jobs.
Create jobs? Perhaps if it is a Goldman Sachs parking lot. If it is a FED parking lot you must use a golden hammer.
Next thing you know they'll be paying people a lump sum to kill themselves.
Like Elvis- good career move!
Soylent Green?
Temp jobs replacing high-wage jobs
http://www.mesirowfinancial.com/blog/economics/2013/04/05/dswonk/cold-ma...
so mesirow says that part time workers aren't in the labour force? what does ds wonk stand for!!
sooo... 70's, where ya been?
http://silverdoctors.com/tungsten-silver-fake-ases-discovered/
Apparently this is bullish because the slow melt up ensues...just like always. Ugh.
A single blog post illustrates why there is no "recovery"
http://www.whitehouse.gov/blog/2013/04/05/employment-situation-march
The political class actually inhabits an alternate reality.
Agree that was a good quick link to quickly see a starkly dillusional view from the political class. An awsome disconnect from reality. Like ignoring flatulance in a stalled elivator.
1984
Serious question: With damn near 1/3 of the population not in the workforce, what are tax revenues going to look like? And, who are they going to borrow from? When does this come to a head in the real world? Just asking.
Research QE, ie. "Money Printing"
Pff who needs tax anyway?