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Labor Participation Rate Drops To 36 Year Low; Record 92.6 Million Americans Not In Labor Force
While by now everyone should know the answer, for those curious why the US unemployment rate just slid once more to a meager 5.9%, the lowest print since the summer of 2008, the answer is the same one we have shown every month since 2010: the collapse in the labor force participation rate, which in September slid from an already three decade low 62.8% to 62.7% - the lowest in over 36 years, matching the February 1978 lows. And while according to the Household Survey, 232,000 people found jobs, what is more disturbing is that the people not in the labor force, rose to a new record high, increasing by 315,000 to 92.6 million!
And that's how you get a fresh cycle low in the unemployment rate.
So the next time Obama asks you if you are "better off now than 6 years ago" show him this chart of employment to the overall population: it speaks louder than the president ever could.
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WINNING!
They dont count...
New record.....not bad!
In other news Osama Bin Laden.......is still dead.
They have reprised the old TV show "Welcome back Kotter" and named it "Welcome back Carter"
Its called a Recovery
Job Situation: http://www.dailyjobcuts.com
=
315k more young people to enlist into the US army OR 315k more bodies to get infected with Ebola....either way, it will work for tptb.
Ebola will fix this.
I'm not sure why this is a big deal. Everyone new they would manipulate it down before the elections. I suppose people want to relish in the better scenario of economic collapse to keep their minds off of apocalyptic pandemic.
Just to reiterate from earlier...
off topic, but I don't care...
look at the massive volume that just tanked the paper silver just now and it's under 17/oz once again!
Massive spike in volume over 300,000. Love it. Stack up that phyzz, bitchez!
and FYI, supplies in huge shortage right now and there has been record setting sales of silver Eagles again in the last few days. Premiums have spiked up as well and there are now delivery delays of up to 2 or more weeks.
Get your orders placed now for phyzz. You can wait to see if it drops to 16 or 15 or 10, but at the same time there won't be any supply and premiums might spike to 25% or higher just to off-set the downward paper price manipulation, so don't fucking wait to add to your stacks.
Hey dude, we get it....I already bought some and down big.
Anyways, BACK TO TOPIC.....I think by next quarter the EBOLA INFECTION RATE will be MUCH higher than the Unemployment rate.
Down the road these unemployment statistics will be seen as 'the good ole' days'
You are looking at it all wrong, the tribe has never been richer.
I don't know - I think it's serious this time around.
The CIA is even laying off staff:
New York Times Plans to Eliminate 100 Jobs in the Newsroom
Who needs 'reporters' or 'newsmen?' All you need are a handful of trolls dreaming up fictional "Better then Ever" stories or fake Horatio Alger success stories to keep the hoi poli tame, passive and full of hope.
Aw c’mon;
Unemployment (likely because of .gov hiring, fast food and dollar stores) is down to 5.9 pct.
Happy days and prosperity is here again.. right before an election.
..and not to be a Debbie Downer, but I would not be surprised if the global Ebola death count is over 20 million by sometime next spring (the decay of old life and the fruition of new life).’
Keep in mind it’s coming up to Hajj time and the SWHTF then.
..you are not going to keep a desperate, ignorant (infected) believer from going to his almighty (small caps intended).
..mooslime and liberal red votes welcomed on this post.
.. hey, the highly paid and educated docs and Feds at the CDC have your back, just like they do in Dallas.
Gov keeps people employed doing nothing. A crew used to lay 5 miles of road a day. Now it takes two years to resurface 5 miles.
100% Unemployment would be a good thing!
The Abolition of Work by Bob Black:
http://www.primitivism.com/abolition.htm
BLS 2022 projection.
http://www.bls.gov/opub/mlr/2013/article/labor-force-projections-to-2022...
We're on track, but for different reasons.
Just change the definition a bit. Food stamp or welfare recipient becomes welfare entrepreneur. Homeless person becomes shopping cart dealer.
Now they can all be added to the birth death model as new businesses. Unemployment rate goes negative. Problem solved. More votes for obama.
It's going lower, I'm keeping my powder dry...
I bought yesterday. Not interested in trying to catch the absolute bottom. I'll just double up if it drops more.
At this point delivery is what matters in metals. You can get it but the volume of physical being sold is depleting the supply. When deliveries go out to 2 or 3 weeks or a month then you will be glad, even at a dollar or so more, that you hold it.
Cash and carry at the LCS - no delivery, no records.
lets see what numbers can we falsely juice then revise?
the economy is so good people dont have to work
It's all bovine doody - there are plenty of jobs if your a naturalized citizen from an NES (National endowment for sedition), ... err NED (Nation Endowment for Democracy). Always thought democracy meant no controlling outside forces. Member one time, when ole Larry King was still gate-keep-shilling on CNN, and his guest was smiling Jimmy Carter's CIA honcho. Larry asked him what the purpose of the CIA was, and the ex CIA chief ripped a hole in the fabric of time and space with the "truth". He said, with some measurable protuberance in his voice, and unequivocally, that the, " .. job of the CIA was to buy treason" (like we already didn't know.
Now Larry King is on RT asking those in Power, like the Jonus Brothers, really important questions. lardy lardy lar, or asking RT commentator, Abby Martin, if she's single - really important stuff - pablim formula current events to comfort the sheeple.
But back to topic - JOBS: If your a naturalized citizen from a country being targeted by NED or the CIA, there's plenty of work. If ya wanna be a bag man for the CIA or NED theres plenty of work. like Hong Kong, and those fondly remember hot spots of not so long ago,like Syria, Egypt, Libya, Ukraine, Algeria etc etc etc.
Like the pole tuggers in Reagan's administration used to fart from their mouths them mighty helpful dictums for the US gentry, "if ya can't find a job where you live, MOVE".
Jobs will come around - the US will need plenty of BBQ chefs when the commons finally says "jesus fucking titty christ - no fucking more", and decides to put all them white shoed CSPAN dandies on a spit to slow roast over the embers of a recently hatched Phoenix.
you write real perty but...what meaneth "buy treason"?
think in third person terms - it mean to pay some local yokels, in a targeted nation, to ferment seditious acts, like Maiden in Ukraine, ot the Free Libyan Rebels, or the Free Syria Rebel Army
Have not been watching the tube or nosing the news, but as soon as I saw it, in a lame-stream story `bout "occupy central" in Hong Kong, I knew, sure as a terd smells like shit, that it be an NED sponsored /CIA sponsored bunch of ex pat Taiwanese incorrigibles on the dole from US tax payers doing dirty deeds real cheap.
The NED is a gaggle of banker colonization tug jobbers of big US flagged multinationals like Goldman Sachs, Mc Donalds, Big Energery and Big Defense
Ya gotta love the chutzpa og Goldman Sachs, especially in Greece and Libya.
Of course in the US, they bulldozed, gassed and sprayed Occupy wall street protesters, but in Ukraine - US said "No NO - only we can can murder citizens of other countries.
Even way back when Yeltsin, who shared with a CBS new gal, that he used to bang his old lady on the kitchen floor, and Russia became capitalist, the terms of the IMF placement required that Russia use the money for things like Mc Donalds and Coka Cola plants (Ford Foundation / CIA).
Right Now Communist China is more capitalist then the US. The US is running on a shadow set of secret "laws" perpetuated by neo liberal socialist fascists.
Call you congressman, ask if wor she or itor whatever would bring a bill to the floor to fund the Free American Rebel Army. They do it for every other place on this rock.
you guys crack me up. There is no delivery problems. Get off the crack. This has been the same smack people have been duped into for a long time now. Its crazy.
Tune in, turn on, drop out.
Saving in PM's is great, if you have steady income, then stock some away, sure.
But for the almost NINETY-THREE MILLION out there who have no reliable source of income, silver does not help anything. It just traps one's money in a nice and shiny store of value.
Some of us need liquid currency, in order to purchase goods and services, and to save for doing real things other than preparing for the apocalpyse that never comes.
Be diversified, but be realistic, too. Not everyone can afford to "STACK PHYZZZ" to the fucking moon.
It's an insurance policy - little more.
This is absolutely great...I just bought a couple of ounces of gold today at a bargain. I'll wait if it goes down more I'll excahnge more of my 401k for PM.
so i am expected to believe according to these graphs that for 35 years the labor participation rates has remained within a steady 5% window,, averaging around 62% +/- 2.5%
i call horseshit on these statistics. total fucking horseshit.
The fake 5.9% has nothing to do with the upcoming elections. Its sole purpose is to give the Fed cover to start raising rates, which is what the big banks now want the Fed to do. The exact same purpose behind the surprise 4.6% GDP print last quarter.
I hope you're wrong.
But considering that 4.6% GDP from the previous quarters' -2.9% fall constitutes a 7.5% RISE IN GDP OUT OF THIN AIR...
I think you may have a point there.
No, it's about the election this always happens during election year. It's to push the Democrats to the top and get elected. You did noticed that in 2012, right? When all of a sudden the unemployment rate fell below 7% and Obama claim he has improved the economy and got re-elected.
I disagree. The Fed and the Oligarchs they serve don't care who is elected because both parties support the Oligarch agenda. Just watch, in a couple of months the Fed will raise rates and they will point to GDP and the unemployment rate as justifications.
Bullish!
Watch for those Ebola smears on the unemployment checks and EBT cards.
5.9% unemployment = 92,000,000 not in the labor force...
Common Core at its best!
DaddyO
how about a chart that shows male participation in the labor force? a key goal of our owners has been to destroy traditional familiy structures, including by strangling men from their traditional role as family leader and provider.
In war on prosperity, many citizenry is enlist in FSA, so cannot participate in labor force. This is well known phenomenon in time of conflict.
I swear I would prouldy wear that as a tattoo on my back. Sounds like it should be attributed to Sun Tzu.
It's not war on prosperity Boris, it is war on white, middle class families in the US... TPTB want obedient brown people with an IQ of 76 as the future of America...
Fuckin' lulz!
Middle class White folks (WITH fuckin GUNS) are lying low but its the brown people who are docile!
Lulz ... yup we can see how well that played out in Ferguson. Meanwhile angry armed white suburbanite, watching dancing with the stars, are down voting the State with their teevee remotes.
I've been an active unemployed "SAHD"...or I prefer "father" for 4 months now. Fuck working and paying $16K/year to have some dumb cunt to "watch" and take care of my baby girl. The jobs offers I do get on the phone are fucking pathetic. Usually from some "Tech" recruiting company who says I have the "perfect" position for you and then they offer me $15/hr to do it when I have 20+ years in the field.
I obtain more satisfaction changing diapers. Fuck em all! I'm staying home. Bitches.
"Mr. EBT Mom" ?
EBT? No thanks. I grow my own food.
The only difference between us is that I'm changing diapers for a baby boy. One engineer who is no longer feeding the beast, and one less Mexican nanny crossing the border for a job. No unemployment checks and no EBT....I saved for 20 years to get my freedom. Winning at life, Bitchez !
Amen!
Oh relax, look at it on the bright side!!
IT WILL GET A LOT WORSE AND THESE WILL BE KNOWN AS "THE GOOD TIMES"!
Pretty fucked up to consider this the good times, but I have to agree with you...
The world is long "dynomite".
Think about it....If NO ONE AT ALL is working, the unemployment rate would hit ZERO! No Jobs, No work, No unemployment, problem solved! :)
Brilliant strategy, must admit!
To those chumps whom are still out front pulling the cart, thank you. Me, I have gone Galt, neither pulling or riding on the cart.
If this keeps up the unemployment rate will be 0 by next year
You do realize that zero is the ultimate 'going Galt' outcome, right?
I estimate that at least 25% of the 'out-of-the-workforce' number are those who have dropped out of the system. They aren't living the good life but they are doing a helluva lot better than those in the workforce because they aren't paying business taxes, income taxes, SS taxes, etc.
Oh yeah, one more thing: they ain't coming back into the system no matter what.
What I "realize" is the more people that say "fuck it" and stop pulling the cart, the cart will slow or stop and the people on the cart won't know what the fuck to do. They will be pissed that the Santa Clause Party can't support the FSA anymore. When more producers wake up and say "fuck this", there will be blood or some real reform.
Biden: ISIS is alive, and GM drivers are DEAD!
Handlers: (takes Joe aside - "Joe, we're trying to win re-election here. We've f-ed with all the statistical numbers to convince them this thing is turning around. Do you think you can pull your head out of your ass please.")
Joe: "Be glad you have Obama-care, cuz ebola and some polio offshoot and some other respiratory pandemic is coming, and We're flying tuberculosis ridden illegals to your neighborhood. I'm keeping the healthy young ones though. Me and the secret service sure do love us some tiny latinas"
I haven't seen bin Ladens body ,, and his organization is thriving.
Who, the CIA or Mossad?
In other news Osama Bin Laden.......is still dead.
Which one?
simple math, 20k E. cases (massive under reporting), doubles every 15-20 days, 60% death rate. Ok by Christmas 400,000 to 1 mm E. cases w 200,000 to 500,000 dead. 10,000+ cases in US. Hospitals will be center of E. transmission. Doc. hospitals close due to risk. Only death camps open. Merry Christmas!!
LOL Tempo. The coming pandemic will make all of this reporting a moot point anyway. Killing off the population will lower the unemployment figures even further.
I knew this was coming to the good ole America. Back in the day flights were not allowed in the USA if they had an outbreak in Africa or any other country of the world until the outbreak was under control. Now D.C. does not give a rats ass about any of us.
Although harsh, if you were dumb enough to head into a disease outbreak you were on your own and had to rely on the coutry you were in for medical care.
I laugh so hard when they state Ebola is not transmitted thru the air. Last time I checked sneezing, coughing, and sweating is all about body fluids. If they were not so worried about the outbreak why did they close several schools in Dallas and the surrounding area and then the CDC head in the decontaminate the places.
Soo..... S&P 2100?
They said 10'000 per day are retiring....sounds like it adds up....strong headwind if hiring drops off.
They will have to refuckery the formula when that happens....happy as a unicorn
10,000/day... based on... what? Computer projections?
'cuz... I don't know many folks who can afford to retire when they'd originally planned.
10k people signing up for Social Security isn't the same as 10k retiring. Just whole lot more people drawing a government check.
Now... 10,000/day applying for SSDI nationally - because they're either "too depressed", "too chronically fatigued", "too obese" or "too mentally challenged to work due to past drug abuse" - yeah, that I can believe.
How any a day heading across the border to Mexico?
My 54yo sister just got her SSDI backpay and first month check a couple weeks ago. Guess she was added to the list of "not in the workforce".
You betcha!
My 300lb.+, fifty something neihbor just had her ankle replaced (already had a hip and both knees), plus still smoking with COPD draws her monthly SS disability check. And yes, the $500,000.+ in her medical care over the past ten years has been paid for by chump taxpayers and out of thin air Benny medicaid bucks.
If one pays attention to the BLS figures, the only demographic that has seen an increase in employment since Barry the Bewildered took office is the group 55+. It only makes sense because with ZIRP how can one afford to retire?
One does not simply hide 5.9% in a BLS Unemployment Chart...
at some point they will only count the working and unemployment will be 0. Keynesian Utopia
Gee, I mean after that study from Rutgers indicating that over the last five years ONE-FIFTH of the American workforce had been laid off (that's one out of every five workers), and the Brookings Institution study that almost one-half of these so-called newly created jobs President Obama touts CANNOT BE VERIFIED, it should be obvious by this time to one and all!
http://heldrich.rutgers.edu/sites/default/files/products/uploads/Work_Trends_September_2014_0.pdf
http://www.brookings.edu/~/media/research/files/papers/2014/07/aging%20america%20increasing%20dominance%20older%20firms%20litan/other_aging_america_dominance_older_firms_hathaway_litan.pdf
Let's see- 92 million not working. Let's say 1/2 are retired. That leaves 46 million@ 240,000 per month finding jobs= 15.9 more years and we will have full employment notincluding all the new ones added to the job market. FORWARD
Compare this to '78 when dual income families hardly were needed or existed compared to today.
Ouch.
Perspective...
1960 to 2000
US population grew by 102 million and jobs grew by 77 million
Or 75.5 jobs for every 100 new citizens
2000 to present
US population grew by 38 million and jobs grew by 8 million
Or 21 jobs for every 100 new citizens.
Wouldn't be so sure of that 8 million figure:
http://www.brookings.edu/~/media/research/files/papers/2014/07/aging%20america%20increasing%20dominance%20older%20firms%20litan/other_aging_america_dominance_older_firms_hathaway_litan.pdf
I want you to talk to my wife. She thinks I caused the economic meltdown and we are the only family in America that is hurting.
Let her know that most of the folks in suburbia just hide how in the hole they are and how many debt collectors are ringing their phone off the hook. Every now and then when the folks in my hood get together for some drinks and billshitting, someone will let it slip on how close they are to moving back home or being on the streets, meanwhile the new car is in the driveway and the kids are wearing all the latest shit.
Not to mention how many suburbanites squatted in their houses for years without any real repercussions. We know some folks that we're not paying on their mortgage for 3 years. Then they finally worked out a 'deal' with the bank...the new 'Murikan squattersvilles. The big banks don't want to flood the housing market with foreclosure inventory that would drive prices down. We don't live in a free market any longer. How long can these delusions of low UR, and recovery go on? Not much longer - but they're hoping through November I guess..
Isn't it amazing how they can't stop spending as long as someone will let them slide.
The disease of our times...
Thinking that there is some sort of magic formula that everyone else has figured out except us.
Totally unreal. Straight up 2+2=5 BS. Adults with near zero mental capacity or desire to deal with the truth.
Jobs lost, tax base eroding, cops confiscating properties "civil forfeiture" to fund their pensions. Check out this bullshit. http://guerillatics.com/?p=40208
Ohio too.
Joe the Plumber is on it.
Golly gee whiz just look at all the low wage, part time jobs being created, America is saved!
CNBC pricks ejaculating over this headline figure...sigh
with their ratings, they'll end up being the only unemployed people in the US pretty soon :)
But what I'm wondering if it's possible to have negative unemployment numbers?
NIRP & NUR - why not?!
one word: beaners
https://www.youtube.com/watch?v=LLqqZmNFa_A
So, 92.6 million working age americans "CHOOSE" NOT to look for a job
Did they choose .........NOT TO EAT..........also?
Participation Rate is simply propaganda, nothing less, same as other propaganda terms like 'aggregate demand', 'deflation pressure' etc, etc, etc.
What does working have to do with getting money?
Exactly, so long as those EBT cards keeping working anyway...
nothing changes otherwise.
1.1 million jobs "created" since 2007 and 13.3 million ..."chose" not to work, hence not counted
Total 12.2 million jobs lost
https://www.youtube.com/watch?v=DqTWfuw4TzE
hilarious
EKM1 - 12 millions jobs lost wouldn't be a surprising statistic if that is accurate. Consider the debt overhang by 2008 was 40%. How much of that supported jobs that wouldn't have existed or stopped existing a long time ago based on the debt overhang?
This all looks like a repeat of the Roaring Twenties overleveraging and Great Depression but this time with far more of the money printing going overseas and into reflation of assets. The labor market is going to remain impaired for a long, long time now and less workers with lower wages being paid means less consumption, that will result in a steep correction of assets. I doubt wages will rise enough in time to avoid a nasty popping of the asset bubble.
https://twitter.com/zerohedge/status/518023787980533760
I'll rephrase that as 12.2 million lost jobs uncounted
If Ebola spreads outside Dallas, you'll see much less shopping, etc and that is very Bullish for the BLS.
Should drive the stawk market to new highs and the GDP over 8% next report!
Old Sicilian proverb: "nobody ever got rich in the daytime".
Nailed it: "Getting money", not "earning money".
Biggest problem we have today.
Brilliant, simply and purely brilliant
"....tried working for a living but there was no money in it."
ebt bitchez
welfare cases make more than people who work
Come on you're smarter than that. The only propaganda number they need is the 5.9% unemployment rate. That is what will be heralded in the press. The only people who pay attention to the real numbers are us. The 92 mill non working Americans are either getting snap, making a living on their back, or dumpster diving.... probably all of the above.
Problem is, it's not JUST those 92M getting SNAP, or any of a hundred other federal handouts on the 'to' side of the wealth redistribution spigot.
No doubt that a significant number of those figure we're in "recovery" as long as their monthly State and federal checks don't bounce.
Are you high? Participation Rate is one of the very few non-propaganda, non-bullshit economic statistics out there. It is an easy to measure, entirely objective statistic, and it's message is indisputable. There's no "seasonal adjustments", or bullshit fudge factors like the "birth/death model". And unlike subjective stats like GDP or inflation, it cannot be easily politicized by changing the measurement criteria.
It is purely propaganda
Nobody chooses not to eat. Those people are simply unemployed and have to be added to unemployment number
Where ever did you get the idea that you have to work to eat? Never heard of EBT, SNAP, WIC, food stamps, disability, or any of the hundreds, if not thousands, of govco programs to feed the chronically lazy?
stupid me
Precisely...
precisely
You're making assumptions. I'll bet a lot of those 'lazy unemployed' are making more money than you are...they just aren't doing it officially, if you get my meaning.
And they are paying their way...not everyone who isn't officially counted is taking govt. bennies. I'm sure not, though I haven't been a workforce participant for over 4 years now.
And I don't need any taxpayer assistance, I'm doing ok on my own. What I'm NOT doing anymore is contributing to this rigged, diseased system.
Truth is Treason....it's days of being reported are numbered.
Are you retarded?
Work is for us suckers!
we don't need no steenking jobz
Everyone gets a corner office.....after the layoffs.....we've got plenty of them.
Those Damn Robots!
The ATMs stole all our jobs!
Obviously the answer is more illegals.
THANK YOU!!!
Expect many more store closings. In many towns across America, jury duty is the only job available.
Where is the soup kitchen participation rate.
found it.
http://www.nytimes.com/2014/06/28/nyregion/rations-reduced-as-demand-gro...
Why do the ‘Help Me’ ads always feature light skinned folks handing food or medical supplies to dark skinned folks?
Because hunger, over time, turns you darker
Keynesian medical textbook explanation
When will we see zero unemployment rate?
zurp then nurp?
when everyone quits looking...
These people all retired early because they bought the fucking dip and are now popping little blue pills on some far off beach drinking margaritas and fucking bodacious natives. El Presidente fixed everything. Hope and change bitchez! The recovery is grand.
i like the way you talk [/slingblade]
I hear Liberia is nice this time of year.
Word is that if you just get there you'll get a free first class flight back.
Too many kids to tag along with me. I'm waiting for my ebola to come to me.
I stand guity as charged, except I drink Sangsom and Coke with the ocassional shot of Lao Khao...
Count me as part of that non-participating rank. Over 5 years intentionally unemployed, I refuse to support this plowing of the bottom of the ditch whenever possible.
wwxx
The last report before elections...This was a total goal seeking bunch of BULLSHIT.
i am trying to participate but not particitating; does that count me as unemployeed, emplyable or underemployeed?
i am self employeed and not sure if they count us....haha, fucking joke...
We are going to rally today....love it!!
Place your bets, the horses are coming to the gate...
Market now had time to digest this but is still rallying...
Know at least 3 companies that have outsourced several hundred jobs to India in the last 3 months.
If your not on unemployment insurance you not unemployed. So once you exhaust it, your not counted.
Are people in prison in labor force?