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Labor Participation Rate Drops To 36 Year Low; Record 92.6 Million Americans Not In Labor Force

Tyler Durden's picture




 

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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Fri, 10/03/2014 - 09:12 | 5284161 NoDebt
NoDebt's picture

No.

Fri, 10/03/2014 - 13:09 | 5285216 wwxx
wwxx's picture

Yes of course they are in the labor force, so are volunteers,  house wives, illegal aliens, children over 15 yrs. old, slaves, waitesses and anyone that performs work.  But of course they are not counted because this country is determined to cut it's own throat.

 

How many illegal aliens that work are in this country?  Prisoners?  Housewives? children over 15, slaves, and don't forget those damn 'do gooders' that have nothing better to do with their time than cut someone else job/throat.  Has this government in years past and to this day endorsed such cut-throat activity...absolutely.  

 

This is the bottom of the ditch, when you are required to 'volunteer' 30 hrs./month just to get $157 on your EBT foodstamp card.  Divide it out $157 by 30 hrs., not even minimum wage.   Prisoners are required HEAVY labor might get $2-3/hr.   The national minimum wage for waitresses has always been abhorrent, currently it is around $2.35/hr.  How about your migrant type farm workers...paid by the piece, and lucky to make $40/day, that is a very long hot day.  I could site all kinds of proof, this is the direction the leadership has legislated, and continuously 'looks the other way' to avoid prosecuting the business owners that employ cut-throat labor.

 

How about the ship yards in Alabama, you would think a welder makes decent money......until his job/throat is cut by immigrants from India...the 'catch' the company holds their passports/papers and required the shipwrights to work for less than $3.00/hr.  Did the state of Alabama do anything to the 'the company'    ~~~hell no~~~

 

Meat packing out in Des Moine IA, or the chicken processing in Fayetteville, AR, or the Dell computer in California...cut-throats every one of them, and all those Pilgrams are proud of it.

 

And let me not forget the worst cut-throat of all time, trucking industry, several 'el cheapo' companies come to mind, Walmart, JB Hunt, Schneider, not a union in site, and why???  Because of the cut-throat wages for these dumbass truckers that actually think they are making good money at $1000.oo/ week, they never quite get around to figuring out that they worked 70+ hours in that week, no overtime is involved...same pay for the first hour as is the seventyith hour, piece work again much like farm worker.

 

Need I say Airline industry, sorry kids but your union AFL-CIO sold you down the river 30 yrs ago.  And please...pay the daNg nurses LPN's and such...minimum wage to start, that is everywhere a nursing home can beat the hell out of their employees.  Teachers same way and they have a remnant of a union contract.

 

'Work with a contract, or don't work at all' went by the wayside with the likes of Ronald Reagan, M. Thatcher, and Milton Friedman paving the way and the American public swallowed it hook line & sinker.

 

wwxx

 

Fri, 10/03/2014 - 09:08 | 5284144 the not so migh...
the not so mighty maximiza's picture

FUCKING WINNING!!!!!!!!!!!!!!!!!!!!!!!!!!!!!

Fri, 10/03/2014 - 09:13 | 5284166 ifishivote
ifishivote's picture

I'm one of them.

 

When Obama gives amnesty to all. What will happen to the unemployment rate?

Fri, 10/03/2014 - 09:24 | 5284240 orangegeek
orangegeek's picture

it goes negative

 

"today's unemployment rate was -2.3%....blah blah blah..."

Fri, 10/03/2014 - 12:21 | 5284977 Doubleguns
Doubleguns's picture

That occurs when folks have more than one job. ie two or three part time jobs will really get it going negative.

Fri, 10/03/2014 - 09:14 | 5284179 Racer
Racer's picture

"GLOBAL MARKETS-Stellar U.S. jobs data boosts dollar and stocks

* U.S. non-farm payrolls jump in September * U.S. futures rise, dollar hits 4-year high * Europe bounces but equities globally head for big weekly loss * Dollar bulls had been counting on a pick-up in hiring * Oil, gold fall, extend losses after recent plunge By Anirban Nag LONDON, Oct 3 (Reuters) - A strong improvement in the U.S. jobs market lifted the dollar to a four-year high against a basket of currencies on Friday while stocks also extended gains, taking heart from more evidence of a sustained recovery in the world's largest economy."

There you go, 'stellar' data! A reporter who clearly does no research beyond the headlines put out by the Bureau of Lie Shovellers


Fri, 10/03/2014 - 09:17 | 5284193 Franktastic
Franktastic's picture

Count me as part of that chart and proud of it. Gold panning or barter works fine, tho bad for the tax man (fuck him) caused am on a mission.

Fri, 10/03/2014 - 09:18 | 5284205 yogibear
yogibear's picture

Get it to rally. Get the market high just before the November election.

It's pure politics. 

Just keep  that ebola in the red states and away from any Obama party members.

Fri, 10/03/2014 - 09:20 | 5284211 Leraconteur
Leraconteur's picture

Feb 1978, Junior in hs. This has wiped out all economic labour growth in my lifetime.

Doomers claimed back 2004-2009 that it would all revert to 1978, and I think that this counts as them being correct. 

Good thing that I am not in North America.

Fri, 10/03/2014 - 09:22 | 5284225 Moustache Rides
Moustache Rides's picture

Lies! CNN just told me the jobless rate has now fallen below 6%

 

lmao

Fri, 10/03/2014 - 09:43 | 5284343 GetZeeGold
GetZeeGold's picture

 

 

CNN.....stuck in the airport?

Fri, 10/03/2014 - 17:38 | 5286546 Moustache Rides
Moustache Rides's picture

I always check CNN to see what the sheeple are being fed.  It's usually frightening.

Fri, 10/03/2014 - 09:23 | 5284228 jubber
jubber's picture

Gold getting another smash here Dow back up to HOD 17k nailed on I guess, European Indexes no choice but to be dragged up by this POnzi dogshit US indexes

Fri, 10/03/2014 - 09:23 | 5284229 himaroid
himaroid's picture

commodity longs and tbond shorts capitulation coming right up

Fri, 10/03/2014 - 09:26 | 5284242 himaroid
himaroid's picture

Such good numbers makes you want to rush on down to the polls and vote for these great leaders.

Fri, 10/03/2014 - 09:30 | 5284253 falak pema
falak pema's picture

92 million PROBABLY includes the BB and children. So that includes the demographic bulge of the BB generation.

Lets not get side tracked by irrelevant statistics.

What is more important is to know how many people in the 20-65 year bracket, aka the EMPLOYABLE segment, are unemployed.

That would probably be a better metric to compare over the decades. 

Fri, 10/03/2014 - 09:36 | 5284264 Smegley Wanxalot
Smegley Wanxalot's picture

92M does not include kids.  In fact I think it is the 16-65 (or maybe 67) bracket, thus excluding kids and retirees.  The comparable stat over the decades is the 40% not working ... which used to be in the mid 30s.  Literally 5% of the working age population has completely given up on life thanks to the fucking assholes in govt. 

Fri, 10/03/2014 - 10:18 | 5284463 new game
new game's picture

it won't happen! cause the manipulators need us seeing what they want us to see. an acurate metrix to measure employment, fuck yea just like cpi. ignore the numbers and let your eyes observe, think as you observe the faux world

created for your eyes only. ha, like the glass bubble with white snow simulation-turn it upside down and shake, see everything looks wonderfull!

Fri, 10/03/2014 - 09:28 | 5284255 youngman
youngman's picture

This was the political number they wanted..you will hear this in every Democratic speech....its just politics....the worst kind

Fri, 10/03/2014 - 09:29 | 5284256 Smegley Wanxalot
Smegley Wanxalot's picture

What a fucking joke.  But ... some assholes need talking points (aka lies) to tell during campaign speeches, and the BLS naturally delivers.

Fri, 10/03/2014 - 09:29 | 5284263 gwar5
gwar5's picture

All the unemployment numbers are still meaningless, just like the GDP numbers, Obamacare numbers, Ebola numbers, and the numbers of Wall Street bankers convicted.

Luckily Shadowstats keeps real numbers for us.

Unemployment= 22%

GDP =  (-)1.8%

Inflation = 5% to 8%  (1990 vs 1980 methodology)

 

Fri, 10/03/2014 - 09:33 | 5284282 studfinder
studfinder's picture

There is a ton of help wanted signs around this area; only problem is they are almost all retail or customer service. 

 

If you want to earn a little more the only option is healthcare(everyone always says nursing is where its at...). 

 

Even government jobs pay crap for the new guys starting out...plus the perks are disappearing (cheap insurance/pensions costs).  I saw a local newspaper article showing starting salaries for teachers in the area...they were as low as $30K/year to start...shit money when you think of it.  I know a guy who was making decent money driving a truck for a local company ($18/hr or so) and applied at for the local city government thinking he was going to land a gravy job.  Offered the job... Pay was $14/hr to start and the benefits were shit...he passed on the job offer.

 

The problem I see with all of it is that we can't all be millionaires or RNs, doctors, lawyers (as much as the media would all like us to think), someone has to shovel the shit, spray the Ebola puke off the streets.

Fri, 10/03/2014 - 09:35 | 5284298 RattNRoll
RattNRoll's picture

SHit I can make more than 30k a year just drivin around looking for junk in the streets and on heavy trash days to sell...

Fri, 10/03/2014 - 09:56 | 5284388 Peter Pan
Peter Pan's picture

Perhaps that is the problem. America is full of junk.

Fri, 10/03/2014 - 14:03 | 5285486 JRev
JRev's picture

Garbage in, garbge out.

Fri, 10/03/2014 - 13:31 | 5285339 wwxx
wwxx's picture

That is real nice you can turn a profit from trash, but your part of the Fucking problem.  You must live in a good size city to find much stuff of value to collect.  And I 'get it' it is fun tracking down some decent stuff to turn a dollar.  You probably live in town, and you somehow have a place to sell the junk, or several places.  Now did you account for your junk, like most companies and self employed are required to do?~~hell no, because it is junk~~  So you didn't pay any tax, or have any license for the junk dealing, and yet any auctioneer of 'junk' has to account for all that crap.

 

Pull your own weight and try pulling your junk scavenging off as a business, and your gross income should become less than $0.oo...(if your expensing your taxes right).

 

I don't blame a guy for making a little hustle, even on trash day, but don't think it compares in anyway to 'working it like a job'.

 

Next pile of trash, I hope ya find a purse full of cash!  Now do ya turn it in??? or say "more for me".

 

wwxx

Fri, 10/03/2014 - 16:12 | 5286189 Bunghole
Bunghole's picture

Somebody has to take this fridge off my property.  I sure as hell aint paint some green weenie to reclaim the freon.

 

Fri, 10/03/2014 - 10:03 | 5284415 corporatewhore
corporatewhore's picture

most lawyers don't make the big bucks.

Fri, 10/03/2014 - 09:36 | 5284312 numapepi
numapepi's picture

The Wikileaks scandal showed, unreported by the unbiased media, that the BLS numbers are as reliable as Chinese GDP figures. This theory was strengthened by the fact that one year before O's last election, Jack Welsh said if Obama needs less than eight percent unemployment to win the election, that is what it will be. That man was attacked unmercifully by the unbiased media. When it turned out he was right the silence was deafening.

Here is a Zero hedge story from that day; http://www.zerohedge.com/news/2013-11-18/october-2012-pre-election-jobs-...

The unemployment rate went right back up after the election.

On the other hand, such good employment numbers (sic) should give the hawks at the FOMC cover to drop the last five billion per month of QE. ;)

Fri, 10/03/2014 - 09:37 | 5284323 Atomizer
Atomizer's picture
The Nine Most Terrifying Words

http://m.youtube.com/watch?v=xhYJS80MgYA

 

Fri, 10/03/2014 - 09:38 | 5284326 Peter Pan
Peter Pan's picture

Like I said on a post on another article:

I look at all these figures and I confess to being almost indifferent in view of the seasonal adjustments, the definition of what constitutes employed, the falling participation rate, the aging population, the record food stamp recipients, the hundreds of thousands of military personnel stationed overseas, the slide in real wages for those lower down the food chain and the record number of adult kids living at home in the basement.

But yes, the new jobs figures are good. Too bad the reality of America is not so good.

Fri, 10/03/2014 - 09:42 | 5284341 Castillo174
Castillo174's picture

Once again who is cookng these numbers? 

Fri, 10/03/2014 - 09:46 | 5284350 SethDealer
SethDealer's picture

so, only 95,000,000 americans work. Id bet that 50 million dont pay over $5000 a year in taxes. This leaves 45,000,000 that pay for 310,000,000 population.

Fri, 10/03/2014 - 09:46 | 5284351 blakeist
blakeist's picture

Muh Recovery!!!

Fri, 10/03/2014 - 09:46 | 5284352 blakeist
blakeist's picture

Muh Recovery!!!

Fri, 10/03/2014 - 09:55 | 5284382 F.A. Hayek
F.A. Hayek's picture

Si se puede!

Fri, 10/03/2014 - 10:02 | 5284404 SMC
SMC's picture

The joke continues...

The puppeteers controlling the US Government could care less about employment, disease, borders, truth, finance, domestic infrastructure, etc... Their focus is on continuing the charade of profitable war, profitable famine, profitable fresh water shortages, etc...

Perhaps, he who has said that he is good at killing people, has figured out that eliminating 90 million or so would be a good start on correcting the "optical" imbalance.

Fri, 10/03/2014 - 10:07 | 5284422 Dre4dwolf
Dre4dwolf's picture

If you are going to fudge the numbers this much, you might as well make the unemployment number a Negative Number like -9% , "the recovery is SOO GOOD that we actually have Ghosts working", the dead have actually hopped out of their graves in order to chip into to the "booming" economy.

If we are going to base all our statistics on Fairy Tails, they might as well be a little more exciting stories.

 

 

Whatever, let them spew the bullshit they want to spew, everyone here knows whats really going on and everyone is preparing accordingly for the socio-economic-ebola-zombie-emp-collapse-alien invasion-nibiru-yellowstone eruption-new world order-revelations-obama antichrist-apocalypse!

 

 

Fri, 10/03/2014 - 10:23 | 5284494 new game
new game's picture

nice rant and plus 1 - lol, spot on...

Fri, 10/03/2014 - 10:07 | 5284427 jubber
jubber's picture

DOW up 300 points now from yesterdays low, ...just blatant manipulation day after day

Fri, 10/03/2014 - 10:25 | 5284496 silentboom
silentboom's picture

Stop that, everything that I've heard from the experts tells me that stocks are cheap.

Fri, 10/03/2014 - 11:06 | 5284669 combatsnoopy
combatsnoopy's picture

Yeppers.  The fortune tellers at Goldie Swaps needs you to open long positions on the latest bubbled ticker on margin so they can borrow it to open their short positions.
It's that fake punt, I can't believe you still fall for it.  :)

 

I spent an entire 15 minutes just trying to explain it to a thousandaire investor.  I don't think he listened.  

Fri, 10/03/2014 - 10:07 | 5284429 Kill the Bank J...
Kill the Bank Jackson's picture

The charts themselves are not bad, it is really about who is taking home the bacon.  In other words, all the higher labor productivity over the last 30 years should accure more to workers - by allowing less of them to work and less to capital - which is having all time high profits.

The problem of the 21st century is really about how we reorganize society given th= huge productivity gains worldwide. We should all be able to enjoy a good life with less work....but how do we get there ? Right now only a few at the top are taking all the loot.

One idea is to revery back to having more women stay home and take care of their families, we would get better results in family well-being as well as higher wages for those remaining. This might still apply to tradition cultures as in China and India as they grow, but probably not in the US and most of th west as the culture is toast.

Fri, 10/03/2014 - 11:16 | 5284728 JetsettingWelfareMom
JetsettingWelfareMom's picture

You can't consume more endlessly...at some point you have enough to eat, to drink, to live, etc. Productivity gains mean that less of the population needs to work at traditional jobs...this really is the elephant in the room. And some of the labor force dropout is women who chose to stay home with their children...if you do the math on a near minimum wage job, commuting costs and childcare it does not make sense to work. That's before considerations of taking care of your own offspring (breastfeeding babies), which presumably the biological mother can do best. America has absolutely no safety net for women who have just given birth--six weeks of UNPAID leave. We need to place a value on things that in the current economy are given no value. 

Fri, 10/03/2014 - 10:07 | 5284432 Iambic PentaMaster
Iambic PentaMaster's picture

Obamanomics = The Rise of the Dependency Class

Fri, 10/03/2014 - 10:10 | 5284443 headhunt
headhunt's picture

True 'dat - 0bamanomics is dependency

Fri, 10/03/2014 - 10:21 | 5284481 silentboom
silentboom's picture

Not really the rise but definitely the acceleration of.

Fri, 10/03/2014 - 10:16 | 5284466 F.A. Hayek
F.A. Hayek's picture

Putting aside the lies that the BLS publishes, let's put some shame back into collecting gov't benefits - no more 'debit cards', direct deposit of cast. Make them stand in line for a check, for food etc. This would at least weed out the deadbeats who are collecting because we've made it so convenient for them.

Fri, 10/03/2014 - 15:26 | 5284864 cornedmutton
cornedmutton's picture

Fuck you. Some of us are here due to circumstances beyond our control. In many cases, due to the ruinous policies of the FedGov. We're all trying to survive, just like you.

You can't throw blame at the feet of the FedGov and then comment as to how "slackers" are bringing you down. It's not your money anyway, it belongs to the Fed Reserve, slave.

Fri, 10/03/2014 - 11:49 | 5284866 cornedmutton
cornedmutton's picture

Dupe

Fri, 10/03/2014 - 10:23 | 5284492 vegas
vegas's picture

Thank you President Goebbels for your policies leading to McJobs; as with all government reporting agencies the Bureau of Lies & Statistics will do anything to make sure the print is fronting for the Dems come 5 weeks from now. Wonderful economy my ass.

 

www.traderzoo.mobi

Fri, 10/03/2014 - 10:25 | 5284501 limacon
limacon's picture

Leisure Consumption 101 is not optional . Everything not optional is compulsory .

We have ways of making you do nothing .

"Joy through Leisure , and Strength through Joy"

"Leisure sets you free!"

"Freizeit macht frei "
Fri, 10/03/2014 - 10:29 | 5284516 q99x2
q99x2's picture

That's what I'm talking about. Those Central Americans and Mexicans see figures like these and they say to themselves. I'm going to the US and I'll never have to work again; like that Q99X2 F'ker.

Fri, 10/03/2014 - 10:34 | 5284544 q99x2
q99x2's picture

Relief rally Gold down 22 dollars.

Arrest the FED

Fri, 10/03/2014 - 10:38 | 5284558 Emergency Ward
Emergency Ward's picture

Believing that work is unfair, President Obama unveils the next phase of his War On Jobs...

Fri, 10/03/2014 - 10:38 | 5284565 robertocarlos
robertocarlos's picture

God bless people who work for a living. I don't know how they do it.

Fri, 10/03/2014 - 10:40 | 5284568 A82EBA
A82EBA's picture

Gasoline ETF UGA broke 200 week MA

Fri, 10/03/2014 - 10:45 | 5284593 HYPERTlGER
HYPERTlGER's picture

Sorry kids.

 

But real economics is the supply of power to the demand for power by fantasy economics.

 

Currently in the USA and all the 1st world countries.

 

20% of the population are net producers or slaves = power plants

80% of the population are net consumers or masters and servants = light bulbs.

 

It's why yield rates have been dropping for 33 years.

 

The net consumers of yield or created out of thin air fantasy have been implodiong the net producers or fractional reserve of reality down towards the absolute 0 point of eternal death to power the explosion of the net consumers of yield or created out of thin air fantasy up towards the absolute 1 point of eternial life.

 

When the net producing slaves choose to stop or reach their maximum potential to supply the demand of the master and servants.

 

It's game over.

 

The FED and the rest of the commercial banks are followers...not leaders.

 

When a master invests 1 US dollar into a slave and demads a return on investment of 1.05 Dollars or a 5% return...but the slave can only supply 1.04 dollars back or 4%.

 

The master is forced to drop their demand for yield down from 5% to 4%.

 

This is what has been going on for the past 33 years...and of course the master makes up the difference on volume.

 

Until of course the volume dries up...which is what happened in 2008.

 

So supply has been cut in relation to demand...It's why you see economies imploding all over the world.

 

The supply of US dollar inflation is being cut off...causing their bubbles to pop to sustain the one bubble that rules them all...The USA bubble.

 

 

 

 

Fri, 10/03/2014 - 10:59 | 5284632 QQQBall
QQQBall's picture

HyperTiger.... a blast from the paSt...

Fri, 10/03/2014 - 10:46 | 5284601 JonNadler
JonNadler's picture

2008 138 million working            2014 138 million working
2008 80 million not in labor force 2014 93 million not in labor force

 

and this is what they are celebrating?

Sat, 10/04/2014 - 07:48 | 5288091 SmallerGovNow2
SmallerGovNow2's picture

and the percentage of the 138 million who are working that have full time jobs is down drastically...

Fri, 10/03/2014 - 10:52 | 5284625 madcows
madcows's picture

what would the UE rate be if the participation rate was what it was back in 2007/2008?  I'm betting it's not getting any better...

Fri, 10/03/2014 - 10:55 | 5284629 venturen
venturen's picture

what percent vote democrat?

 

Can we claw back Obama, Pelosi and Reids salaries?

Fri, 10/03/2014 - 10:55 | 5284634 rbianco3
rbianco3's picture

What percentage of the non-participating employees would you guess are John Galts'? I'd guess five to ten percent but that might be high- then again we have some pretty bad leadership and racism is running warm.

Fri, 10/03/2014 - 10:57 | 5284643 limacon
limacon's picture

Labor wages sky-rocketed during and after previous bad plagues .

See

What to expect as derived from past occurrences of bad plagues :

1.Indifference switches to mass hysteria . 

2.A big Hysterical Focus forms . See http://andreswhy.blogspot.com/2014/06/the-quiet-revolution.html )

3.Controlled Geographical Areas (CGA's) will form . Basically , fenced quarantine areas .

Join one of the saner churches . Insanity was a najor killer , especially in the Black Death .

 

See  http://andreswhy.blogspot.com/2005/11/birdflu-survival-update-5.htmlThe critical bit :

"5 Some consequences:


a During the pandemic , the more successful CGA’s will be under severe volkewanderung pressure . Tough times .

b Initially , the global trade system will collapse . Decreased population leads to decreased demand . Highly automated production systems are little affected . Massive deflation results . The cost of labour (especially in the highest mortality low-skilled labour brackets ) rockets (like in Black death) .

Nation-States collapse , as they are perceived as not keeping the intrinsic contract of protection and not starving their people regardless of the level of taxation. It is a massive tax-revolt .
It is analogous to the anti-church movement that swept Europe after the Black Death . The Church did not keep it’s part of the bargain and the populace voted with their feet(and pockets) . In general , surviving people all over will feel very , very pissed-off and betrayed .

Betrayed by Science , Church and Leaders . A deep revulsion against anything Big , Scientific or For Your Own Good . Small-scale warfare will become endemic , with the present trend to condottieri accellerating sharply ."

 

Carry a good spade .

Godd luck .

Fri, 10/03/2014 - 11:00 | 5284654 Atomizer
Atomizer's picture

This event is a stealth attempt to create a North American Union. Open borders from Canada to Mexico. 

We kicked them in the nuts, last time this was tried during Bush administration. 

The key word to understand is Union. One currency order. Then the labor aspect. 

 

Fri, 10/03/2014 - 11:06 | 5284679 foodstampbarry
foodstampbarry's picture

Americans better learn to start working for 9-10 bucks/hr or they will never work ever again.

Fri, 10/03/2014 - 11:42 | 5284834 rejected
rejected's picture

Nothing wrong with that so long as the prices fall with it as they normally would in a non manipulated economy due to the increase in purchasing power. But bankers and government know that people feel better when their wages and assets rise even though purchasing power declines. Nothing better than plucking dollars from happy marks.

What were seeing today is wages stagnating with asset prices increasing due to the central bank inflating. This never has and cannot end well.

Fri, 10/03/2014 - 11:07 | 5284697 boeing747
boeing747's picture

UE rate was 5.4% when last bubble popped. We are closer and closer to another one.
The new life style is working for cash (i.e. collecting scrap metals) while collecting EBT among other free stuff.

Fri, 10/03/2014 - 11:21 | 5284747 pupton
pupton's picture

Nice.  ZH makes front and center on DRUDGE!!!

Fri, 10/03/2014 - 14:08 | 5285513 JRev
JRev's picture

It's times like this I'm glad ZH doesn't allow guest commenters, spare us all the Republicrat mouth-breathing fucks.

Fri, 10/03/2014 - 14:49 | 5285778 PresidentCamacho
PresidentCamacho's picture

I was teh down boat, because the bipolar political people that view drudge will soon begin their infiltration and destruction of this community if given the chance.
1st rule and 2nd rule apply here.

Fri, 10/03/2014 - 14:34 | 5285684 pupton
pupton's picture

Down arrow for that, really?  Zerohedge is becoming mainstream.  The ideas being expressed here are being accepted are legtimate and not "fringe".  Getting exposure like this is good for ZH, and good for America.  ZH is part of the new media that is being relied on to replace the BS government control media.  Good for ZH!  Take that down arrow and shove it up your ass.

Fri, 10/03/2014 - 11:31 | 5284784 p00k1e
p00k1e's picture

The Euthanization program is very important, yet overlooked.

Fri, 10/03/2014 - 11:32 | 5284786 AdvancingTime
AdvancingTime's picture

 Few Americans ever really work through the numbers but fact is if you can get enough from the Government in disability, unemployment, or some other kind of welfare why even jeopardize that income by thinking about taking a job. For all the moaning about how it is not enough and those living on the dole are forced into a life of poverty in fact those that suffer greatly often do so because of poor spending choices rather then the amount they receive. The article below delves into why people often choose to live a life as unemployed in America.

http://brucewilds.blogspot.com/2013/06/living-on-dole.html

Fri, 10/03/2014 - 11:41 | 5284835 theyjustcantstop
theyjustcantstop's picture

i know it's infuriating, but it was predictable, oct. 2010 bls, it took a year of adjustments to get it where they wanted for the election, and a year after of adjustments to get it back up to the previously outragous adjustments.

i made enough on bets to buy a tube of silver ounces, if it would've hit 5.8, i could have bought a gold oz..

my next bet is long sanitzier makers, short pretty much all fast food, and all you can eat salad bars, with spiteful workers earning min. wage, who would  give you a littlt ebola, because it's your fault their there.

 

Fri, 10/03/2014 - 11:48 | 5284861 limacon
limacon's picture

Artificial Intelligences lack experience . 

Artificial Intelligences are already here .

http://memeburn.com/2014/09/amelia-is-the-artificial-intelligence-comput...

If humans insist on competing with AI's , they will lose. Losing here means "extinction" . That is a permanent loss of job for everone .

It also depends on Ethics .

See http://andreswhy.blogspot.com/2012/04/god-and-ais.html

 

Cooperation here is much better than competition .

See http://andreswhy.blogspot.com/2009/04/competition-and-co-operation.html

 

See what is happening where Neo-Luddites play :

http://andreswhy.blogspot.com/2014/05/nova-luddites.html

 

See what is in store :

http://andreswhy.blogspot.com/2008/12/smallest-ai0.html

 

Fri, 10/03/2014 - 12:13 | 5284955 hardmedicine
hardmedicine's picture

How can anyone believe this????

I'm so sick of the shit!

total complete shit!

I'm sorry I know this wasn't constructive....... I feel better now......... just slightly

Fri, 10/03/2014 - 12:23 | 5284985 Otto Zitte
Otto Zitte's picture

60 million illegals not paying taxes

15 million legal aliens not paying taxes

80 million government "employees" eating taxes

seniors (displaced from care providing by technology)

minors (displaced from light work by aliens and pinko policies)

...92M is a conservative bullshit guestimate

Fri, 10/03/2014 - 13:16 | 5285269 MeelionDollerBogus
MeelionDollerBogus's picture

Better off if NO ONE paid taxes, just draining productive work to pay for wars at this point.

It should be if they want a war they should fund it some way that's not from tax-payers.

Fri, 10/03/2014 - 14:50 | 5285785 Otto Zitte
Otto Zitte's picture

This is a replay of the Carter farce.

Fri, 10/03/2014 - 14:43 | 5285740 edifice
edifice's picture

It's at least 250 million, total "Americans" not working. Yes, this includes babies and grannies.

Fri, 10/03/2014 - 14:57 | 5285821 Otto Zitte
Otto Zitte's picture

Americans stopped "replacement" at 240 million. Depending what phony numbers you accept, more than 60 million unamerican non-americans looking for a sugar daddy.

Fri, 10/03/2014 - 12:25 | 5284998 Gold N Glocks
Gold N Glocks's picture

Thank you president Obola thank you thank you FUCK YOU!

Fri, 10/03/2014 - 12:33 | 5285054 sdmodiano
sdmodiano's picture

So here is a question.  How much of this increase is the baby boomers retiring? How can that aspect be teased out of the data? 

So in 2009

LFPR = 66%

Unemployment 10%

 

Now

LFPR = 62.7$

Unemployment 5.9%

So, of the 4.1% decrease in unemployment, 3.3% came from the drop in the LFPR.

Fri, 10/03/2014 - 13:03 | 5285219 sdmodiano
sdmodiano's picture

That assumes that they share the same deniminator, and they may not.

Sat, 10/04/2014 - 07:40 | 5288085 SmallerGovNow2
SmallerGovNow2's picture

note that over two hundred thousand of the jobs created were in the 55 and over category...  are those boomers retiring?  or just retiring from their career job and then taking an hourly wage job to make ends meet?

Fri, 10/03/2014 - 12:34 | 5285060 kchrisc
kchrisc's picture

Prime time for the "Brownshirts," I mean ReadyReserve.

Young people, see your evangelical Christian recruiter, I mean pastor, for info.

Am American, not US subject.

 

Note: http://www.freerepublic.com/focus/f-news/2485607/posts

Fri, 10/03/2014 - 13:15 | 5285262 MeelionDollerBogus
MeelionDollerBogus's picture

hiring? We can PRINT moar workers!!

Fri, 10/03/2014 - 13:28 | 5285305 Lynn Trainor
Lynn Trainor's picture

What's so amazing to me is that our economic problems could rapidly be fixed if we had wise and intelligent leaders at the helm.  It's no mystery why we are in this trouble - it's perfectly obvious that we need fiscal restraint, balanced budgets and policies that attract manufacturing back to our shores.  But on and on they go, piling mountains of new debt on our backs every single day, edging us ever closer to national ruin.  "The curse causeless shall not come."

Fri, 10/03/2014 - 13:59 | 5285464 F.A. Hayek
F.A. Hayek's picture

The ATMs took all of our jobs!

Fri, 10/03/2014 - 14:46 | 5285753 ToNYC
ToNYC's picture

Economy right on track, removing expensive and slow humans with cheaper and faster technology and efficiently extracting the maximum  profit for the shareholders. What's business not to like?

Fri, 10/03/2014 - 14:51 | 5285787 flowlessflow
flowlessflow's picture

SO Partcipation rate is getting lower, but it doesn't mean actual number of people doesn't work increased.

It might just be number of people retiring is larger than new worker enter in labor force. (Given recent low birth rate and everything)

While Umemployment rate is decreasing showing people want to work is getting easier to find one.

There is a problem. 

Fri, 10/03/2014 - 14:58 | 5285830 Leszek
Leszek's picture

"Record 92.6 Million Americans Not In Labor Force"

 

baby boomers are retiring, that's the cause, isn't it?

Fri, 10/03/2014 - 16:28 | 5286256 insanelysane
insanelysane's picture

It is because we have always counted people in their 80s and 90s as being part of the labor force. </sarc>

Fri, 10/03/2014 - 15:54 | 5286104 rejected
rejected's picture

Dollar up to almost 87. Now there's stupid.

Fri, 10/03/2014 - 18:36 | 5286765 yrbmegr
yrbmegr's picture

Labor is the second best way to earn money in this country.  Capital is the best way.  As long as that is the case, the superior incentive to spend money on capital assets will drive everyone to minimize money spent on labor.  If we eliminate the tax advantage enjoyed by earnings from capital, that incentive structure will equalize.  Many problems will disappear.

Fri, 10/03/2014 - 21:37 | 5287253 talisman
talisman's picture

Le'see now...if you have 100 people working a full time 40 hour work week with benefits, and you cut their work week to 20 hours without benefits, you then go and hire 100 more people working a 20 hour work week (without benefits) to do the same work, then the unemployment rate drops by 100 people.
-----unemployment problem solved !---

Fri, 10/03/2014 - 22:51 | 5287492 harumscarum
harumscarum's picture

"The current period is particularly difficult to analyse. Central bank liquidity injections have hardly any historical equivalent and act insidiously like morphine; the stock exchanges move inversely proportional to countries health; finance and derivatives are completely out of control; the West and the US in particular are trying to hide their disastrous situation through benchmark signals which no longer say anything (like the unemployment numbers)… "

http://www.leap2020.eu/Excerpt-GEAB-81-January-2014-World-political-chao...

Sat, 10/04/2014 - 06:55 | 5288052 deerhunter
deerhunter's picture

i went from working a 22 year job making well over 100k a year and managing sales crews in two major midwest cities.  My crews wrote enough business to keep 8 crews of two men installing product 10 months a year.  There were 14 major midwest cities in my company all supporting the same number of legal,,, working,,, taxpaying carpenters making well over 100k a year.  That company went belly up 2010.  A family run buiness since 1978.   100 carpenters,,,,   houses,, kids,,, bills to pay,,, a factory and support team of another 50 people.  The factory sold for 4 cents on the dollar.  How many stories just like mine?   How many people in their 40's,, 50's  ??? Long time faithful employees sailing along smoothly,,, fully planning on working until they decide to pull the plug did this happen to?

Since then I am semi Galt.  I do freelance sales  for 3 companies.  All 1099. My wife and I have had no forms of insurance for over five years.  I paid for cataract surgery for her out of pocket.  That wasn't pleasant but she can now see.   I have made less this year than I paid in  taxes each year the previous 20 years.   Starve the beast.  I pay my mortgage on time.  Other than that I have no debt.  I support the beast through property taxes and tolls and gasoline taxes and that is all.  When i decide to either sell or walk away from my home of the last 17 years I will no longer be paying directly property taxes.  Will SS be there in 3 years when I "retire"?  I don't know and don't care.

We have bought no new clothes aside from underwear in five years.  Tires and oil changes and brakes on two paid for cars.  We eat at a restaraunt only on road trips to visit the grandkids a state away.  That is 14 dollars for cold french fries and shitty attitudes at the drive through window.  What ever happened to hot french fries any way?   They have gone the way of real jobs in America.

America is broken.  The working class of which I am one,,, has been cheated,,, lied to,,, and stolen from.  America as I knew it is not coming back.. There are very few manners,, morals or scruples any longer.   We have become a 3rd world nation right before our eyes.  When I buy firewood my Mexican tree fella wants my personal check made out in his name,, not his business name on the truck.  How many taxes do you think he has been paying for 17 years?  When your wife has her nails done by the illegal Vietnamese immigrants at the mall,, how many taxes are they paying?  When you tip your server for shitty service because 20% is the right amount for a tip,, how many taxes you think they pay.  TIPs used to be paid before service and it meant "to insure prompt service"  hence tips.

I have a tip for all of you still working.  Still riding the Metra train at 5 am and getting home at 8 pm just to not see your kids grow up.  Just fucking stop it already.  Whatever you are chasing you will never catch.  Learn a skill someone needs.  See,,, brakes on your vehicle installed and maintained properly is what helps keep your family alive.  Food is what helps keep your family alive.  A roof on your house keeps the rain from coming in.  Learn a skill.  Learn to smile.  Learn to laugh .  Fuck we are broken.  Look around and fucking wake up America.

I lived in Cincinnati for a number of years and there was a radio personality on the air.   Earl Pitts  Amercan.  He signed off with Wake up America.  Wake up.  Stop feeding the beast.  Stop chasing something that is only an illusion.  See the sandy beach with the hot firm tanned blonde and a BMW on the beach is an illusioin.  Besides if you did catch her you would be like a dog catching the truck he was chasing,, wouldnt know what do with her if you caught her.   For all but a few the "american dream" is just that.

Just stop it already,,, tune out,, fall out,,,, get paid in cash,,,, stop feeding the beast to the best of your ability.  Stop eating at restaurants,, stop buying new vehicles,,, stop spending any money that isn't an absolute necessity.  Even if you can afford it just stop spending until Jan 1st.  You will have someones attention,,,,, stop driving if you don't need to make the trip.  Have I made myself clear?

These numbers are all lies,,, enjoy the sunrise,,, i will be in the deer woods with my bow in half an hour,,,,   time to replenish some venison for the freezer,,,, good day all,,,,,,

 

Sat, 10/04/2014 - 07:34 | 5288082 SmallerGovNow2
SmallerGovNow2's picture

Great rant thanks for that. 

Earl Pitts, now that guy was good...  Pitts Off!

Mon, 10/27/2014 - 10:17 | 5381965 tuhaybey
tuhaybey's picture

The labor force participation rate does not actually mean what many people use it to mean.  For example, somebody in medical school or who retires at 62 after working for 40 years is listed as "non-participating" while somebody who is on public assistance that applies for a job every once in a while is considered "participating."  It is an important stat, but it is not the measure of how many "makers" and how many "takers" our nation has that many on the right suggest it is.

If you break it out in more detail, you see a much more realistic picture.  See the breakout here- labor force participation rate.

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