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Labor Participation Rate Drops To Lowest Since 1978; People Not In Labor Force Rise To Record 92.3 Million

Tyler Durden's picture




 

It is almost as if the Fed warned us this would happen. In a note released yesterday, a Fed working paper titled "Labor Force Participation: Recent Developments and Future Prospects", looked at the US labor force and concluded that "while we see some of the current low level of the participation rate as indicative of labor market slack, we do not expect the participation rate to show a substantial increase from current levels as labor market conditions continue to improve." But don't blame it on the greatest recession/depression since 1929: "our overall assessment is that much - but not all - of the decline in the labor force participation rate since 2007 is structural in nature."

Well that's very odd, because it was only two months ago that the Census wrote the following: "Many older workers managed to stay employed during the recession; in fact, the population in age groups 65 and over were the only ones not to see a decline in the employment share from 2005 to 2010 (Figure 3-25)... Remaining employed and delaying retirement was one way of lessening the impact of the stock market decline and subsequent loss in retirement savings."

So yeah... sounds like most of the decline in the participation rate is not structural in nature and is merely a response to what everyone but the 1% sees as the biggest - and ongoing - economic devastation perhaps in history, papered over conveniently for the 1% with trillions in liquidity injections.

In any event, no matter how you spin it, today's data was bad: because not only did the headline data disappoint, the labor force participation rate dropped once again to 62.8% from 62.9%, matching the lowest since 1978, as a result of the people not in labor force rising once again, and hitting a new all time high record of 92,269,000, up 268,000 from the prior month. In fact, in August the number of people not in the labor force increased by nearly double the number of people who found jobs, which as we reported previously, was only 142K.

 

Putting it another way, since the start of the depression in December 2007, the number of people not in the labor force has increased by 13.0 million. The number of jobs added: 768,000.

 

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Fri, 09/05/2014 - 09:06 | 5183945 Hal n back
Hal n back's picture

household survey shows only 16k more people working in August and birth death plus 102

Fri, 09/05/2014 - 09:10 | 5183983 GetZeeGold
GetZeeGold's picture

 

 

Oh sh1t......let's hope Joe Kernen doesn't find out this!

Fri, 09/05/2014 - 09:14 | 5184013 Sudden Debt
Sudden Debt's picture

Relax, we've just returned to the age where woman didn't have to work...

 

Fri, 09/05/2014 - 09:17 | 5184036 negative rates
negative rates's picture

And the only one complaining is the tax man.

Fri, 09/05/2014 - 09:23 | 5184062 Headbanger
Headbanger's picture

CNBS trying not to look like idiots they are:

http://www.cnbc.com/id/101974605

Fri, 09/05/2014 - 09:53 | 5184180 Latina Lover
Latina Lover's picture

Memo from Fed Reserve to Obama:

Pull your dick out of Reggie's ass and get to work:

Need.another.war.to.kill.off.excess.labor.

Fri, 09/05/2014 - 10:15 | 5184301 CuttingEdge
CuttingEdge's picture

Its a case of starting a war via proxy somewhere far away on an inferior opponent, not getting too involved until its well under way, and then pile in the conscripts to give the good old "US cavalry to the rescue" effect - that one that hasn't worked out too well since 1941. Oh, and like you say, substantial body bags to get that non participation rate down...

...and they pick Russia???

Go very long body bags.

Fri, 09/05/2014 - 10:48 | 5184459 Soul Glow
Soul Glow's picture

Fighting Russia would be today's Little Bighorn.

Fri, 09/05/2014 - 11:05 | 5184571 aminorex
aminorex's picture

More like Normandy.

Fri, 09/05/2014 - 15:21 | 5185971 froze25
froze25's picture

That fact is the fighting men for the most part do not want to follow Obama.  The people that would support the fighting men do not want to follow Obama.

Fri, 09/05/2014 - 09:58 | 5184203 rccalhoun
rccalhoun's picture

the market has alaways been to try and judge human/machine behavior to a given set of circumstances....in the past those may have coorelated to economic data....currently it appears to coorelate to the reaction of people/machines to fed and government policy.   there is no law that says EPS guides a market.  i don't really understand these coorelations, so I don't play too heavily.....underperforming most, but making a modest profit.  this isn't rocket science; its much more difficult---trying to guess at humnan behavior.   good luck!

Fri, 09/05/2014 - 10:09 | 5184271 813kml
813kml's picture

The Beatles are better than ever...

https://www.youtube.com/watch?v=ZqK97av7I3s

Fri, 09/05/2014 - 12:16 | 5185021 Jannn
Fri, 09/05/2014 - 09:17 | 5184038 Divided States ...
Divided States of America's picture

And Im sure a lot of those women are reporting they are employed via self employed/consultancy and selling Fraud-a-life healthcare products to clueless sheeps.

Fri, 09/05/2014 - 09:24 | 5184070 LawsofPhysics
LawsofPhysics's picture

Are you talkling about "Advocare"?  I recently saw one of their company pitches.  Based on the Amway model.

Yep, when bitches don't like the old ponzi, they always start a new one.  Some will be successful, most won't.

Fri, 09/05/2014 - 09:34 | 5184111 Grande Tetons
Grande Tetons's picture

I think there will be alot of scams developed to rip off retiring boomers.  

The Fed has been a great role model. 

Fri, 09/05/2014 - 09:40 | 5184132 Chupacabra-322
Chupacabra-322's picture

@ Grande Tetons,

Yea, and its called Ebola. Good way these Pure Evil Psycopath Elite can scrub 92 million + off the face of the earth.

Fri, 09/05/2014 - 09:43 | 5184148 LawsofPhysics
LawsofPhysics's picture

(92,000,000 / 7,000,000,000 = 0.013 x 100 = 1.3 %)  loss of 1.3 % of the world population?  Meh, think bigger.

Fri, 09/05/2014 - 09:56 | 5184196 Chupacabra-322
Chupacabra-322's picture

I just crapped my pants. Did ypu figure in the loss of like via Nuclear exchange?

Fri, 09/05/2014 - 10:42 | 5184432 Son of Loki
Son of Loki's picture

"Trickle Down Fraud," is the new buzz phrase .... it's all part of modern economics here in merika.

Fri, 09/05/2014 - 09:35 | 5184114 Divided States ...
Divided States of America's picture

I know there is a new defying aging cream called Nerium that is gaining traction amongst the sheeps...I know sales are booming right now.

Age defying products surely definitely didnt help Joan Rivers face or her health.

Fri, 09/05/2014 - 09:38 | 5184125 Grande Tetons
Grande Tetons's picture

I rub Nerium on my change purse every morning. I am pleased to report that I  have the nutsack of an 18 year old. 

Fri, 09/05/2014 - 09:53 | 5184185 toady
toady's picture

Do you keep it in a jar by the door?

Fri, 09/05/2014 - 09:41 | 5184137 LawsofPhysics
LawsofPhysics's picture

There is some okay science behind Advocare's nutrition products.  In addition, they seem to be targeting and being sold by older (have money) people who are excercise and health-nuts.  May have some staying power, still just another ponzi, but everything is when it comes to humans.  It is and always has been about picking the ones that will grow and selling just before they "correct" as nothing lasts forever.

Fri, 09/05/2014 - 09:18 | 5184040 eclectic syncretist
eclectic syncretist's picture

By now everybody is starting to get pissed at BO

https://www.youtube.com/watch?v=IaX0KBhPcG4

Fri, 09/05/2014 - 11:06 | 5184584 aminorex
aminorex's picture

They still have to work (even Grandma, now) they just can't.

Fri, 09/05/2014 - 09:15 | 5184014 Raoul_Luke
Raoul_Luke's picture

I don't see how we can get "gains" month after month from birth/death when the ratio of businesses opened to businesses closed remains under water.  I mean, I understand how the numbers could potentially work out that way, but it just doesn't seem like the odds would favor it.

Fri, 09/05/2014 - 09:36 | 5184088 Blues Traveler
Blues Traveler's picture

Take symantics, throw in greed, lies, corruption, indifference, an agenda and remove the human heart. Part time jobs is the driver, not career jobs, just meet monthly obligations w/no upside.   Obalo created the part time economy with oblundercare, at 29.5 hours, he doubled the amount of part time jobs positions.

Fri, 09/05/2014 - 10:19 | 5184318 The Wizard
The Wizard's picture

There are lies, damnable lies and there are statistics. (Benjamin Disraeli)

Fri, 09/05/2014 - 10:23 | 5184332 The Wizard
The Wizard's picture

But the unemployment rate is dropping. There are lies, damnable lies and there are statistics. (Benjamin Disraeli)

Fri, 09/05/2014 - 09:15 | 5184025 max2205
max2205's picture

10,000 baby boomers retiring per day adds up to a lot hitting these numbers

Fri, 09/05/2014 - 09:23 | 5184061 himaroid
himaroid's picture

Now up to 12,000+

Fri, 09/05/2014 - 09:32 | 5184103 GetZeeGold
GetZeeGold's picture

 

 

As opposed to 92.3 Million?

Fri, 09/05/2014 - 09:47 | 5184162 Oldwood
Oldwood's picture

Why be greedy, why not just all of us "retire"? They want fucking dependents, lets give them some fucking dependents! They worry about a few minimum wage burger specialists picketing, lets show them some REAL hungry mouths to feed. These fuckers think they can make us pull their damned wagon, lets all just climb into the back for a while and they can see the "final solution" up front and personal like.

Fri, 09/05/2014 - 10:35 | 5184383 toady
toady's picture

That's what, I believe, is happening. Sure, a lot is made of the 65+ crowd working at McDonald's, but those are only the ones stupid enough to not save.

On the other side, everyone over 40 who did save is cashing out and heading for the hills. I did, and I know at least 30 of the guys I used to work with did. Sure, more than half of them were retirement age, but at least 10 were 45-55, and either had rentals or hobby farms (or both, like me).

The system is fucked. Find something outside the system, or you'll be fucked too.

Fri, 09/05/2014 - 10:48 | 5184470 boattrash
boattrash's picture

My dear ole dad, turns 78 this week, quit his job last year.

Reason: They told him he had to be paid by Electronic Deposit.

His reply: "No, I don't have to. I've been earning and receiving a pay-Check since I was 11 and I see no reason to change it now".

Their loss...

Fri, 09/05/2014 - 09:55 | 5184190 Hal n back
Hal n back's picture

10,000 more boomers taking medicare and social security each day but I bet many are not retiring.

Fri, 09/05/2014 - 09:19 | 5184048 LawsofPhysics
LawsofPhysics's picture

Yep,  as more people fall from the middle class and find themselves poor.  They will do what poor folks do...   ...drink and fuck.

Fri, 09/05/2014 - 09:27 | 5184080 rubiconsolutions
rubiconsolutions's picture

Unemployment numbers are calculated using common corpse math.

Fri, 09/05/2014 - 09:06 | 5183946 NOTW777
NOTW777's picture

how can any person breathing believe the MSM about the "booming" economy - we have a welfare state

Fri, 09/05/2014 - 09:08 | 5183967 Dr. Engali
Dr. Engali's picture

Roughly 38% of the iSheeple will believe anything this administration says. 

Fri, 09/05/2014 - 09:17 | 5184039 intric8
intric8's picture

tribal chicanery

Fri, 09/05/2014 - 09:18 | 5184045 ShrNfr
ShrNfr's picture

Not so oddly, that is Obama's approval rating from Gallup yesterday.

Fri, 09/05/2014 - 09:19 | 5184047 negative rates
negative rates's picture

So at this moment 62% don't believe anything this administration states, fixed it for ya.

Fri, 09/05/2014 - 09:36 | 5184120 GetZeeGold
GetZeeGold's picture

 

 

I think I've just found my peeps......and we are quite a large number.

 

I'll organize them....and get back to you.

Fri, 09/05/2014 - 10:29 | 5184352 yogibear
yogibear's picture

" iSheeple"

Wait in line for days to get F'd.

Fri, 09/05/2014 - 10:02 | 5184233 Oldwood
Oldwood's picture

If you still have a job and are making your rent payments, then you can assume everyone is just doing a little better than you and that you are the outlier. We only see macro when it is illustrated for us, something the media WILL NOT DO. For all of these fucks, the ends absolutely justify the means, even if millions die in the process. As it has always occurred in the past. History is useless for anything other than to maintain a grudge and seek revenge for real an imagined past wrongs. Historical facts are nothing more relative to most than random integers if they are not put into context. Politicians and the media try to pick and choose these "integers" to create their own history to promote their own agenda.

Fri, 09/05/2014 - 09:07 | 5183950 Divided States ...
Divided States of America's picture

Labor Participation at its lows means Warfare Participation will soon be at its highs.

Fri, 09/05/2014 - 09:10 | 5183973 Grande Tetons
Grande Tetons's picture

True. However, after awhile there is no more meat on the carcuss to fead all the buzzards. Something will have to give. 

Fri, 09/05/2014 - 09:17 | 5184035 LawsofPhysics
LawsofPhysics's picture

"unofficial" economic activity is at an all time high.  It's really that simple.  "Full faith and credit".

Fri, 09/05/2014 - 09:23 | 5184063 intric8
intric8's picture

we may soon see unemployed blacks fighting seagulls for a chicken bone on the boardwalk

Fri, 09/05/2014 - 09:51 | 5184178 RattNRoll
RattNRoll's picture

Where I live, I had an older black friend dig in the dumpsters for dead raccoons from restuarant onwers that would shoot them. I hear they make a tasty dinner.

Fri, 09/05/2014 - 10:42 | 5184426 toady
toady's picture

Gotta be careful with the coons. I heard there's a new disease in'm that'll fuck you up.

Fri, 09/05/2014 - 10:04 | 5184241 Rouge Trader
Rouge Trader's picture

What a scenario. We are all fucked. 

Fri, 09/05/2014 - 09:07 | 5183952 Dr. Engali
Dr. Engali's picture

"Many older workers managed to stay employed during the recession"

 

Yeah, like the depression ever ended.

Fri, 09/05/2014 - 09:11 | 5183984 Divided States ...
Divided States of America's picture

For the clueless younger generation, they will never experience the true feeling of a REAL economic expansion maybe until a few decades later....but of course when Apple keeps coming out with new phones every year or so, they can obliviously cling on to that to continue their subsistence.

Fri, 09/05/2014 - 09:52 | 5184182 RattNRoll
RattNRoll's picture

My old mangy dog has a batter chance at the future than these kids in high school today, talk about being fucked.

Fri, 09/05/2014 - 09:58 | 5184207 Civilizedworm
Civilizedworm's picture

It makes me sick man. I am part of that younger generation, and we are so fucking clueless. The problem, like you said, is that the younger people don't see that there's a problem and thus will make no effort to fix it. When obama says the s&p is higher than its ever been they think it actually means something, while I'm working a full time salaried job and can hardly make ends meet, even though I do absolutely zero frivolous spending. They don't understand the concept of purchasing power, or just about anything else to do with economics.

Fri, 09/05/2014 - 10:08 | 5184268 Oldwood
Oldwood's picture

Things are most definitely harder than in the past, but the thing I think makes the difference is perception. In my youth I was faced with the same circumstances of today in that there were plenty of low pay, no advancement type of jobs available, but there was a sink or swim mentality, where there was little doubt that if you did not really kick ass, you wouldn't make it. Today the headwinds are stronger than ever but we also have indoctrination in the belief that you shouldn't have to bust your ass to get ahead, that the state should be your proxy in forcing opportunities into existence and if all else fails the state supports you. When things are tough, the last thing we need is more incentive to do less. Yes, it is the progressive, caring thing to do, but is misguided and ultimately destructive.

Fri, 09/05/2014 - 10:16 | 5184306 overmedicatedun...
overmedicatedundersexed's picture

oldwood, might I say a plan has been in place for decades, the circumstance today is result of success of that plan, wealth/power concentrated in.01%..your youth it was never like this, much as you wish it was..for example i worked in 1971 a 2nd shift at a integrated circuits production line, 3000 jobs good pay jobs, 10 yrs later gone overseas. what politician who was loyal to his voters would have let that happen?? the plan and your not in it.

Fri, 09/05/2014 - 12:36 | 5185113 Oldwood
Oldwood's picture

Why did not the consumer of those electronics demand American made circuits? For sure the manufacturer wasn't advertising the fact, and the politicians were only celebrating globalization, but we could have asked...if we really wanted to know. Nothing happens without our participation and while we may have been lied to and tricked and manipulated, we still have responsibility. The few politicians who spoke openly about what we were to face were derided as crazy old coots who were simply resistant to change and "progress". So off of the cliff we go. Pray the roadrunner effect holds as long as possible because once we actually look down...and focus, it over.

Fri, 09/05/2014 - 15:18 | 5185958 KnightTakesKing
KnightTakesKing's picture

I was a dumb ass back then also and bought into the notion that 'we were not being globally competitive.' And the Unions were this and that... Basic divide and conquer strategy.

I know better now. It's the 0.01% versus the rest of humanity. We're all in this together. Red versus Blue is a false paradigm. I'm out of the matrix now the past few years....

Fri, 09/05/2014 - 10:39 | 5184404 Divided States ...
Divided States of America's picture

Good luck civilizedwormy, you maybe one of very few young ones to make it to your middle age.

Fri, 09/05/2014 - 09:27 | 5184077 corporatewhore
corporatewhore's picture

Agree.

Every person who uses the bs expression "recession" should be quickly reminded that this is a fucking depression.  Reporters, talking heads, uninformed.

Fri, 09/05/2014 - 09:07 | 5183953 Kaiser Sousa
Kaiser Sousa's picture

"i dont believe it...."
Love,
Mark

Fri, 09/05/2014 - 09:08 | 5183959 NOTW777
NOTW777's picture

will we get a victory obama presser - celebrate

Fri, 09/05/2014 - 09:07 | 5183960 Xibalba
Xibalba's picture

It's not working!  Needs MOAR!!!!

Fri, 09/05/2014 - 09:08 | 5183968 AdvancingTime
AdvancingTime's picture

The longterm implications of poor job creation are massive. The biggest may be that a huge number of people are dropping from the work force. Often these people have little in the way of savings, this means that the burden of caring for them will be transferred to society. If to many people shift into this category we will slowly wear down through attrition.

Finding a fair way to share and balance the work load that goes on every day may be one of the most important problems facing our modern world. Not discovering a solution to this dilemma bodes poorly for our consumer driven economy and adds to the toxic problem of inequality. More on the implications of unemployment in the article below.

http://brucewilds.blogspot.com/2013/09/implications-of-poor-job-creation...

Fri, 09/05/2014 - 09:47 | 5184161 FLHRS
FLHRS's picture

Step number one, make the poor uncomfortable being poor.  Political correctness hurts us again.

Fri, 09/05/2014 - 10:05 | 5184244 dontgoforit
dontgoforit's picture

It seems obvious to me that this has been obumbles plan all along.  He's taking revenge on a perceived ill played against his tribe 200 years ago.  The people who helped elect this anti-amerikan freak should now be wondering why they shot themselves in the foot, no?

Fri, 09/05/2014 - 10:12 | 5184283 Oldwood
Oldwood's picture

What is it that people do not understand about "equality'?

To achieve these goals it is much easier to bring the top down than the bottom up, especially if your goal is not prosperity but revenge.

Fri, 09/05/2014 - 10:36 | 5184382 pinky lee
pinky lee's picture

Step number 1. Stop blaming the victims of this killer economic system. The disparities are too great between the rich and poor to not see this unfairness that is eating us alive. When one sees routinely shoes that sell for 4 grand and 2 bedroom apartments that sell for millions of dollars (and thousands of dollars maintenance fees each month), where some 50% of our kids are routinely going hungry, then it's not too far a stretch that we live in a damned selfish out of balance society owned and operated by the wealthiest looking out for themselves. And to hell with everyone else.

Fri, 09/05/2014 - 13:09 | 5185281 Oldwood
Oldwood's picture

The fact that we are lied to and manipulated to enhance our dependency, does not relieve us of our responsibilities. The plan always has been to make it as easy as possible to choose poorly. No one will save us from ourselves except big brother, at the cost of our liberty, which plenty of people are happily surrendering every day. If cattle maintained a severely independent nature, a cheeseburger would cost considerably more. We, as a society, are going extremely cheap.

Fri, 09/05/2014 - 09:09 | 5183969 Kaiser Sousa
Kaiser Sousa's picture

so let me see -
when i look at Gold and Silver today they should be shooting for the moon - right???????

keep stackin'...

Fri, 09/05/2014 - 10:21 | 5184320 Oldwood
Oldwood's picture

Anyone who thinks they will be left a back door or escape route to safety from this mess is confused. There are only so many life boats and they were spoken for some years ago. Gold and silver may just be another lead weight that sinks you to the bottom faster than being naked. Ultimately our government's power over us is financial. We complain but do little as we do not want to put at risk the limited "perceived" assets we may have accumulated. Having nothing, owning nothing but whats between our ears may ultimately be our best hedge. We must understand that while they seek our dependence, they are reliant upon our "greed" to stay in the game. They firmly believe that there is no limit to the load they can place on our backs as our greed, our need to possess or succeed, is mental and incurable. They have attempted to train us like work animals to respond upon command, even and especially when done subliminally. The need to buy gold is likely little different. At this point we must question our every motive and response as to if it is truly in OUR best interest or if it actually serves their cause.

Fri, 09/05/2014 - 10:46 | 5184447 Apply Force
Apply Force's picture

Oldwood - agreed, your ability to think and reason are primary, and there is never true freedom without economic freedom. 

AND - escape routes and safety are only found through the front door - you are responsible for your own clean water, nutritious food, warm clothes, and dry home.  A way to defend that all as well (whether booby traps, illusions or weapons).  Modern conveniences like a faucet should be viewed as the redundancy, even if that is what we use most often now.

Less is the theme, and a finite energy supply combined with increasing population goes with a collapsing economy.  Fight for the scraps or make your peace and live off the land as best you can.  Health and happiness do not generally involve money.

Fri, 09/05/2014 - 09:08 | 5183970 whirling tword ...
whirling tword freedom's picture

recovery... my ass.

Fri, 09/05/2014 - 09:10 | 5183975 sheikurbootie
sheikurbootie's picture

I'm shocked!  The surprise will be that it's going to get much worse.

Fri, 09/05/2014 - 09:14 | 5184007 GetZeeGold
GetZeeGold's picture

 

 

I think worse is easily doable.

Fri, 09/05/2014 - 09:28 | 5184082 Chupacabra-322
Chupacabra-322's picture

"Things are going to get worse before they get a lot worse."

- Lilly Tomlin.

Fri, 09/05/2014 - 09:41 | 5184139 GetZeeGold
GetZeeGold's picture

 

 

The future ain't what it used to be - Yogi Berra

Fri, 09/05/2014 - 09:11 | 5183990 sergeibell
sergeibell's picture

And yet the S&P500 is at all time highs and the USD soaring like if there was no tomorrow.  Ms Yellen now sure has reasons to stay dovish.  Hawks must be scratching their bald head.

Fri, 09/05/2014 - 09:11 | 5183992 leaklover
leaklover's picture

Don't forget to add back in 90 million who work under the table for CASH...

Fri, 09/05/2014 - 14:38 | 5185761 Its_the_economy...
Its_the_economy_stupid's picture

When the regulatory burden is to high to officially enter the workforce, then the entry will be unofficial.

Fri, 09/05/2014 - 09:11 | 5183995 venturen
venturen's picture

That is enough for a large army....hmmm?

Fri, 09/05/2014 - 09:12 | 5183998 vicorjh
vicorjh's picture

Corp2Congress: Clearly we need an additional 768K H1B visas to fill the jobs since there are no qualified US citizens available...

Fri, 09/05/2014 - 09:12 | 5184001 venturen
venturen's picture

Is this a surprise....this is how democrats run every city they control!

Fri, 09/05/2014 - 09:14 | 5184009 venturen
venturen's picture

must be all those .com millionaires retiring?

Fri, 09/05/2014 - 09:14 | 5184012 LawsofPhysics
LawsofPhysics's picture

So, 97 million not working who still need to eat and only 47 million on food stamps.  The underground economy is much much larger that then "official" market folks.

Awesome.

Fri, 09/05/2014 - 09:20 | 5184054 ekm1
ekm1's picture

Rule of thumb:

 

Each job report has at least 100k fake jobs added to the report by White House order.

Fri, 09/05/2014 - 09:14 | 5184015 papaswamp
papaswamp's picture

An interesting nugget table A-9. Self employed, both incorporated and unincorp., both well below last years numbers. At some point, the BLS will have to revise their birth death model.....it is way off ( as ZH has stated before)

Fri, 09/05/2014 - 09:15 | 5184017 intric8
intric8's picture

WTF. Almost a third of the nation is considered irrelevant in terms of what they would consider a viable workforce. Its an outrage and a total sham. To hell with their contrived data already.

Fri, 09/05/2014 - 09:17 | 5184031 Shizzmoney
Fri, 09/05/2014 - 09:17 | 5184037 ebworthen
ebworthen's picture

I knew it.  More and more unemployed not being counted.

This is how you go from unemployment of 6.2% to 6.1%, and NEVER show that labor force participation rate chart!

Fri, 09/05/2014 - 09:17 | 5184041 sheikurbootie
sheikurbootie's picture

Warner Bros. Entertainment chairman and CEO Kevin Tsujihara has told Warner Bros. employees  that layoffs are coming at every level across the studio.

Shocking!  What a surprise!  When people are broke they don't go to the movies.  Especially, when they can rip it from Pirate Bay.  Sporting events is next.  Who the fuck can afford $100+ ticket to a pro game?  It's going to get much, much worse.

Fri, 09/05/2014 - 09:28 | 5184081 intric8
intric8's picture

movies have been sucking lately. so many plot lines are being regurgitated. we've seen it all. would you guess in real life too? russia vs usa once again, go figure

Fri, 09/05/2014 - 12:23 | 5185069 Otto Zitte
Otto Zitte's picture

The lamest propaganda ever made in USA, but they are PC and thats all that matters, citizen.

Fri, 09/05/2014 - 10:34 | 5184368 oudinot
oudinot's picture

Actually, historically, movie going is counter cyclical; when people can't afford to go out for an expensive dinner during a recession,  they go to the movies because its a cheaper form of entertainment.

Fri, 09/05/2014 - 10:54 | 5184513 toady
toady's picture

It WAS a cheap date, until they raised the prices. Now we go to the $2 Tuesday movie screening movies just before they come out on DVD.

Fri, 09/05/2014 - 09:21 | 5184057 q99x2
q99x2's picture

No wonder Obama got rid of the US/Mexican border. First blacks, now whites, nobody wants to work in this fucking country.

Fri, 09/05/2014 - 09:48 | 5184159 overmedicatedun...
overmedicatedundersexed's picture

q99, "nobody wants to work"?? your sarcastic side is on target. in a no jobs economy why you bring in lower cost labor it's only fair why should americans or west EU have high paid workers, it's only fair.

Fri, 09/05/2014 - 12:21 | 5185050 Otto Zitte
Otto Zitte's picture

Nobody wants to work for pittance while all the profits of their labor are confiscated & used to enslave them more permanently, train & reward the prison guards and importing more slaves, to escalate the subversion.

Fri, 09/05/2014 - 09:23 | 5184066 hotrod
hotrod's picture

SALUTE,    I am one of them.  54, college educated, big Corp. experience and FREE.  Was in good shape until my gold stocks crashed.  Now  Well

I'm sittin' on the dock of the bay
Watchin' the tide roll away, ooh
I'm just sittin' on the dock of the bay
Wastin' time

Fri, 09/05/2014 - 09:23 | 5184067 Atomizer
Atomizer's picture

Perhaps you haven't heard, SNAP INC. No shareholders, just taxpayer funded corporation. Send in your resume and apply today. No work involved, just collect a check. 

/ sarc 

 

 

Fri, 09/05/2014 - 09:24 | 5184071 trillion_dollar...
trillion_dollar_deficit's picture

I think part of this is lack of demand and part of this is simply shitty potential employees.

 

Ive been looking for whats essentially a second level marketing specialist for two months now. Weve interviewed about a dozen people. None of them have been what Im looking for. But, even more disappointing is the overall quality of all the resumes Ive received. Its been absolutely shocking at the derth of talent Im seeing. Talking to others I know theyre seeing the same thing. Its awful out there.  

Fri, 09/05/2014 - 09:36 | 5184113 Atomizer
Atomizer's picture

I'll bet they underscore Facebook and Twitter skills. Probably holds the highest point ranking on Angry Birds.

Fri, 09/05/2014 - 09:40 | 5184136 surf0766
surf0766's picture

That is the result of 40 years of progressive education.

 

Ask them to say " Would you like fries with that?"

 

Fri, 09/05/2014 - 10:25 | 5184339 hardmedicine
hardmedicine's picture

What the hell is a "second-level marketing specialist"?  And is that something that pays well enough for a "good" candidate to be able to support himself on?

 

Fri, 09/05/2014 - 11:32 | 5184738 Skiprrrdog
Skiprrrdog's picture

My guess would be no, and it is probably difficult to get all worked up at the prospect of working for someone who does not know how to spell.

Fri, 09/05/2014 - 17:01 | 5186444 KnightTakesKing
KnightTakesKing's picture

I agree. I have several positions open that top out just north of $100K and I can't find good project managers that really understand Information Technology.

Fri, 09/05/2014 - 09:25 | 5184075 Chupacabra-322
Chupacabra-322's picture

No worries for the beer drinking unemployed males. The NFL officially kicked off yesterday. Mericka, fuck yea. Pass the chips dude.

Fri, 09/05/2014 - 09:48 | 5184160 Atomizer
Atomizer's picture

Good thing Sam found work with the Cowboys 

Beers, Steers, and Queers. - An old Revolting Cocks hit. 

http://m.youtube.com/watch?v=HyGp98Xoq9g

Fri, 09/05/2014 - 09:26 | 5184076 jarana
jarana's picture

Economic activity is being prohibited as money is prohibited (only the GodFather's money is "legal" i.e., only GodFather's money can be used without knowing GodFather's non-rejectable offer).

 

Fri, 09/05/2014 - 09:28 | 5184084 yogibear
yogibear's picture

11 more illegals flooding into the workforce competing for jobs should help the matter.   Any day now Obama will give ethe executive order and another 11 to 12 million will backfill those given amnesty. Just like last time.

ISIS has plenty of work to do in helping bring down the US. Come on in and join the destruction of what was once the great US!!

Free medicaid, EBTs, Obama Phones, section 8's  for everyone in the world. The US is giving.

 

And time to double up on the $17.7 trillion in debt to pay for it.

 

 

Fri, 09/05/2014 - 13:03 | 5184208 Whoa Dammit
Whoa Dammit's picture

Yep. The Colonel Kurtz Plan (Apocalypse Now) of setting oneself up as the leader a pack of ignorant savages be it corporately or politically is not a sound business or economic model. In fact, it is quite insane.

Fri, 09/05/2014 - 09:31 | 5184101 NoPension
NoPension's picture

This is a new paradigm. Population, around the globe is at an all time high,obviously.
Mechanization globally, off shoring of manufacturing here at home, and the financialization of the economy has set up a tenuous situation.
We are producing as much here at home, as ever, but without the labor component. What labor that is required, has been driven to the lowest denominator, immigrants, who, compared to a native born, work like slaves. But in truth, these immigrants have never had it so good. That's why they come. At one time, this served our country well. But there was " room" up the ladder. Now, not so much.
I'm 52. This is a unique situation. Unless you are plugged into .gov, local gov, a legacy job with a public utility or sit at the top now, your kinda pucked.
It seems to me,the play book in was taught, is just thrown away. It just keeps getting harder and harder .

Fri, 09/05/2014 - 10:11 | 5184279 Comte d'herblay
Comte d'herblay's picture

As a coronary to that premise, the European populations of the EU are purposely not having children because they are further and better educated about the no-growth possibilities of their generation and the  ones preceding and following.  They don't want to have children who have little to no hope of a decent life, decently compensated. 

It is a new paradigm, though it has been aborning for 40 years. 

Some occupations will benefit in the Trades like welders, and other skilled labor, as the 70 yr olds leave the w/force or die off.  But finding a niche for one's children if they are not among  the top 10% will be more and more a fool's errand. 

 

Fri, 09/05/2014 - 10:39 | 5184411 plane jain
plane jain's picture

See Idiocracy.

We have one and know several couples that have none.

Fri, 09/05/2014 - 09:34 | 5184109 SidKhadak
SidKhadak's picture
Obama’s second term Plans for India 

Launch a “U.S.-India Job Creation and Skills Building Partnership” 

Given that India’s economy could become the world’s third largest by 2030, and the U.S. economy is placing emphasis on retraining workers to meet the labor demands of the twenty-first century, a bilateral initiative should be launched to capitalize on the vast human capital in both societies, by linking the expertise and abilities of our community colleges and worker training programs. India’s Ministry of Human Resource Development has plans to focus on vocational training, but a concerted bilateral initiative, including public-private partnerships, to train and employ millions of workers for a modern economy is needed.

Obama’s Second Term Plans for India

Unlocking The Full Potential Of The US-India Relationship

 

However the real picture is that 8.5 Million Americans Left Labor Force In Obama’s First Term

Obama’s second term Plans for India 
Fri, 09/05/2014 - 10:24 | 5184331 Oldwood
Oldwood's picture

So are Americans going to be immigrating to India for vocational work now?

Globalization is a bitch.

Fri, 09/05/2014 - 09:36 | 5184119 The Carbonator
The Carbonator's picture

I remeber when Bush had 150,000+ prints.  The media spun it as if we were in the middle of nuclear winter.

 

Now its called "sub par".

 

Fucking bastards.

Fri, 09/05/2014 - 10:35 | 5184376 The Carbonator
The Carbonator's picture

Don't get me wrong.  I don't have a love for G Bush.

 

 

I just hate the fact that the so called 'media' has chosen TEAM Democrat over truth in 'reporting' and has become nothing more than a propaganda machine.

Fri, 09/05/2014 - 09:38 | 5184123 the not so migh...
the not so mighty maximiza's picture

we will all become unpersons, uncounted

 

Fri, 09/05/2014 - 10:41 | 5184421 p00k1e
p00k1e's picture

We became unpersons back there when the Supreme Court decided a presidential election. 

(Even in grammar school a run-off election would have been initiated.)

Fri, 09/05/2014 - 11:26 | 5184699 InflammatoryResponse
InflammatoryResponse's picture

P00k1e,

 

You are quite incorrect.  THERE WAS A RECOUNT...  using the gore team criteria, and you know what?  down there in Florida BUSH WON that recount.

 

Not that it was widely reported.  the dems didn't want to lose the selected not elected MEME they suddenly got so fond of.

 

THe newspapers paid for it.  the article I saw that reported that result you ask?

 

it was 2 columns square.  in section B, and the end of the section.

 

GORE is STILL A DOLT AND HE LOST TO BUSH!

 

Fri, 09/05/2014 - 09:39 | 5184135 mayhem_korner
mayhem_korner's picture

 

 

By year end, there will be more people not in the labor force than there are miles between Earth and the sun.

Fri, 09/05/2014 - 09:50 | 5184175 Temerity Trader
Temerity Trader's picture

Could this be the day ZH permabears have been waiting for?  The end of the myth of perpetual growth.  Trees don’t grow to the sky. Limitless debt, limitless money creation. The party is over and all it will take is for the lemmings to see the Fed has used up all its ammo and fear will take over quickly. When faith in Fed ends, look out below. New I-Phones models every six month won’t help at all. The fools have all spent ahead with plastic.  “Borrow and buy, the job you save may be your own!” People with low paying jobs all driving brand new vehicles…that will work.  An economy based on wild consumption and reckless debt creation. Good luck with that.  Could get real ugly.

Fri, 09/05/2014 - 10:06 | 5184257 Comte d'herblay
Comte d'herblay's picture

TT, are you willing to put evven #$5.00 on that possibility?  $500, 5,000, 500,000, 5,000,000?  Several connected traders do that routinely.

No, it's not the day.  The Hyperion tree in Sequoia has been growing 'to the sky' for nearly 400 years and it's not stopped yet.

Could it be that we are only 'looking at a tree' that is only half- grown?

It's as likely and more so than the day of infamy.

 

 

 

Fri, 09/05/2014 - 10:09 | 5184275 hardmedicine
hardmedicine's picture

Are we in a depression yet??  No?

Seems to me if you don't work for government or someone who depends upon government for your payments then you don't have a job...... outside of retail and fast foods of course.......... minimum menial and degrading........ or you work for government.  I don't see much choice there.

 

My soul lies dead on the floor of my business I had to close.  I think disabled vet said it really well: " Sucess in this country is being able to get the hell out of the rat race" . 

Searching, hopefully, for my 3 acre farm..............

Fri, 09/05/2014 - 10:11 | 5184277 wagthetails
wagthetails's picture

Excellent news. Just two years after 1978 we started a massive 20 year bull market. All we need now is a couple years of massive inflation and then we are off to the races. Waahooo!!!!!!

Fri, 09/05/2014 - 10:10 | 5184278 hotrod
hotrod's picture

Many of my friends left early due to stock market gains in 401ks and IRAs..  If that ever crashes like the gold stocks did it will create a national nightmare.  I basically had enough to retire but the crash in the gold stocks ruined that.  So beware all you retirees that are flush with market gains.

Fri, 09/05/2014 - 10:13 | 5184287 FreeNewEnergy
FreeNewEnergy's picture

As of today, I have 15 months until I qualify for social security (yeah, big fucking deal). When I first asked my father (RIP) what the deduction for FICA was when I was 16, and he told me, "it's Social Security, you'll get it back when you retire."

My response was, "I'm never going to see a penny of that money." Obviously, my skepticism for government was well-established, early on. So, I figure that as of December, 2015, the wheels will have been run completely off the federal bandwagon and they'll come up with some BS reason why I don't qualify. Just my take on it.

The economy has never, in my 60+ years, been so fucked up, shitty, uneven, bastardized and faked. We, as a country, are completely screwed. Among the few bright spots for me are the fact that I've been living rent-and-tax free in an inherited home with a CUNTrywide mortgage for over five years and recently lucked into getting free cable (there's a secret to this: you must have Time-Warner cable and internet service, you must cancel cable service and tell them you only want internet service. With any luck, they'll made a record of the canceled cable TV and never bother to disconnect it - they actually have to send someone out to physically disconnect the service from the pole or wherever - but your bill will show only internet service. That's what happened to me, almost two months now and all good.).

Anyhow, other than my good fortune and ability to tell banks, governments and other people of "authority" to fucking shove it, life is pretty sucky and probably going to get worse for lots of folks, but, as I have maintained throughout, it's every man, woman and child for themselves, so screw everybody, take care of yourself, be independent and resourceful and PROSPER FROM THE MASSIVE FRAUD.

NOW, I'm off to go fuck somebody or some multi-national corporation or some other government agency over... and OUT!

Fri, 09/05/2014 - 10:15 | 5184305 Skip
Skip's picture

Well when you have immigrants, legal and illegal, taking ALL the job growth since 2000 then you have all of these Whites no longer able to find work, thus the figures given.

Now in Tennessee over 68% of the population growth came from Americans yet ALL of the jobs were taken by immigrants.

http://cis.org/all-north-carolina-employment-growth-since-2000-went-to-i...
http://cis.org/all-tennessee-employment-growth-to-immigrants
http://cis.org/all-employment-growth-since-2000-went-to-immigrants

Now how much longer this can go on, with OPEN BORDERS and massive LEGAL immigration is anyone's guess, unless Whites are willing to just go off into oblivion clutching their Iphones and Ipads and Kim Kardashian games. And NFL team mugs

Fri, 09/05/2014 - 10:29 | 5184357 RattNRoll
RattNRoll's picture

Its game over for the white man in the next 5-10 years, thats the window. If something doesnt DRASTICALLY change the whiteman is permanent fixture in the coming history books.

Fri, 09/05/2014 - 10:50 | 5184482 p00k1e
p00k1e's picture

‘immigrants’

I need/needed a bunch of concrete work done.

I called an American (white) owned outfit.  The guy came out and gave an estimate.  I tried to call him back the next day to approve and found his voicemail box was full.   He never returned my calls.

I called a second American (white) owned outfit.  I left a voicemail on a Friday AM.  He called me back late Monday.  I asked him to come-out to provide a quote.  He agreed but never did come out.

I e-mailed an ‘immigrant’.   He and his ‘cousin’ were out that same day.  The one spoke English while the cousin’ with the tape measure did not.  They’ll be doing the work next week.

Fri, 09/05/2014 - 11:43 | 5184814 toady
toady's picture

And at half the price, half the time, and twice the quality!

I've run into a few that are getting "americanized' lately. Time to find some new ones behind the home depot again...

Fri, 09/05/2014 - 10:16 | 5184312 hardmedicine
hardmedicine's picture

HEY........ I know what we need!!!  We need a lot of low-skilled, non-
English speaking people and their ENTIRE family to come to our country.  That will TOTALLY fix it!

 

AMERICA! AMERICA!  Land of the melting pot.  Home of the free! 

 

Fri, 09/05/2014 - 10:47 | 5184461 plane jain
plane jain's picture

Bad news hon, they aren't all low skilled.  A fair number are experienced in the trades or manufacturing.

Anytime you are talking about immigrants you have to figure that the ones who come here have the smarts ,or at least the gumption, to take a risk for their own self interest.

Half the kids in my daughter's talented and gifted class have foreign names...mostly Indian best I can tell.

Fri, 09/05/2014 - 10:22 | 5184322 Obama_4_Dictator
Obama_4_Dictator's picture

It's because you creeps are hoarding money.....start spending! The FED has done it's job, now do yours!

Fri, 09/05/2014 - 10:41 | 5184420 yogibear
yogibear's picture

The Obama tribe election is getting close. Anything to get more of Obama's libtard people in.

Fri, 09/05/2014 - 10:22 | 5184326 Jameson18
Jameson18's picture

None of these charts and stories can be true becuse this morning on the trusted foxcnnmsnbc they said it was all because of Marke tbasket 17000 employees walking out. Market basket only employs 8500 people and 80 percent of those are part timers.

Fri, 09/05/2014 - 10:34 | 5184371 Rikky
Rikky's picture

question for the board.  my wife just started looking for a job again after being home 10 years with the kids.  where would she fall in the surveys?  where does she fall (if at all) in the U1 through U6 measurements?  thx.

Fri, 09/05/2014 - 11:34 | 5184739 plane jain
plane jain's picture

As a wife who has been staying home with the kids I figured I fell into the non-participant category.

Mixed feelings on looking to get back in.  On the one hand I read how all that is out there is low paying part time crap jobs, on the other hand supposedly there are good jobs, but just not good people to fill the jobs.

I worked 20 years before being a stay home mom, most recent positions were as an executive admin/researcher/corporate cashier for insurance/broker-dealer/hospital chain.  All suport at the VP level, but my skills are stale, and admin positions seem to have been cut to the bone.

I can't say I've done it all, but I have done quite a lot, from national/international travel arrangements, to dropping off/picking up the Lexus.  I have arranged meetings, catering, conference booths, RFPs.  Spent a lot of time in service of the rich and the merely well paid.

Fri, 09/05/2014 - 10:37 | 5184400 F.A. Hayek
F.A. Hayek's picture

Even though global warming, global cooling, climate change almost ruined it, it was by far the best recovery summer yet.

Fri, 09/05/2014 - 10:38 | 5184401 p00k1e
p00k1e's picture

ISIS is looking for a few good terrorists –

 

"At ISIS, the quality of service depends fundamentally on our basic belief about ISIS personnel truly understanding the meaning and value of ISIS' mission and values.  Every ISIS employee is indoctrinated through training, evaluations, and a values pocket card that reinforces the importance of our mission and how we intend to get there through demonstration of our behaviors. "

 

https://public.isishq.com/public/about/mission.aspx

Fri, 09/05/2014 - 10:40 | 5184414 esum
esum's picture

obumblercare will kill off the old fuckers and make more jobs for the illegals.......

Fri, 09/05/2014 - 10:45 | 5184441 Otto Zitte
Otto Zitte's picture

When this is over the only ones counted are slaves

Fri, 09/05/2014 - 10:50 | 5184473 BeetleBailey
BeetleBailey's picture

<------NFP Numbers spun and believed by the masses

<------NFP numbers spun and believed by the masses

 

...............hard choice huh?

Fri, 09/05/2014 - 10:52 | 5184491 Winston Smith 2009
Winston Smith 2009's picture

Damn, if we could just get everyone to quit their jobs and not look for another, we could get unemployment down to 0%... according to f'ing insane methodology used to calculate unemployment figures.

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