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Labor Participation Rate Drops To Fresh 38 Year Low; Record 92.9 Million Americans Not In Labor Force
Another month, another attempt by the BLS to mask the collapse in the US labor force with a goalseeked seasonally-adjusted surge in waiter, bartender and other low-paying jobs. Case in point: after a modest rebound by 0.1% in November, the labor participation rate just slid once more, dropping to 62.7%, or the lowest print since December 1977. This happened because the number of Americans not in the labor forced soared by 451,000 in December, far outpacing the 111,000 jobs added according to the Household Survey, and is the primary reason why the number of uenmployed Americans dropped by 383,000.
And another chart that will not be mentioned anywhere: the Civilian Employment to Population Ratio: at 59.2%, it is now unchanged for 4 months in a row.
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I believe you are right on the money. That's why I said we had a "silent coup".
Yaaaay! More work for me!!
Hey, wait a minute!
The FED the most profitable carrt trade bank of the US ?
http://www.marketwatch.com/story/fed-hands-record-987-billion-to-treasur...
At least Yellen can yell : I made some money!
"record 92.9 million not in force"
SMH Zero. That is NOT a headline. As you can see from the chart EVERY year is a new record as people live longer into old age. Guess what? I bet you tomorrow will be a new record. And then the day after will likely crack THAT record. The Labour Participation chart is the real story.
How fer we've come on Work since Maynard G. Crebs
http://www.vidoevo.com/yvideo.php?i=cHF6cFFQcWuRpRFNyMnM&dg-maynard-g-kr...
You can't really talk about the labor force participation rate in a meaninful way without reviewing what is included in each bucket. All unemployed people are considered "participating" while retirees under 65 and students- even high school students- are counted as "not participating." If you want to get a more complete picture of it, I suggest considering this graph as well as the one above that just presents the bare LFPR- http://politicsthatwork.com/blog/labor-force-participation-rate.php