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Americans Not In The Labor Force Rise To Record 92.9 Million As Participation Rate Declines Again

Tyler Durden's picture




 

For those (very few now, with even the Fed admitting the unemployment rate has become a meaningless, anachronistic relic) still wondering why the unemployment rate dropped once again, sliding from 5.7% to 5.5%, the reason is that while the number of unemployed Americans dropped by 274K thousand while those employed rose by 96K, the underlying math is that the civilian labor force dropped from 157,180 to 157,002 (following the major revisions posted last month), while the people not in the labor force rose by 354,000 in February, rising to a record 92,898,000 (people who currently want a job rose to 6,538K) matching the all time high number of Americans not in the labor force.

End result: the labor force participation rate dropped once more, declining to only 62.8%, which as the chart below shows is just off the lowest print recorded since 1978.

Source: BLS

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Fri, 03/06/2015 - 09:55 | 5860910 Bumbu Sauce
Bumbu Sauce's picture

Not to worry, this is the age of Free Shit™!

Fri, 03/06/2015 - 09:56 | 5860915 Shocker
Shocker's picture

The one graph above, pretty much says it all

Job Layoff List: http://www.dailyjobcuts.com

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Fri, 03/06/2015 - 10:01 | 5860941 GetZeeGold
GetZeeGold's picture

 

 

Hell yes it's a new record!!!

 

We're pretty awesome!

Fri, 03/06/2015 - 10:14 | 5860996 Stuck on Zero
Stuck on Zero's picture

In a land of negative interest rates couldn't the jobless rate go to -5%?

Fri, 03/06/2015 - 10:18 | 5861025 NotApplicable
NotApplicable's picture

It's going to be interesting to see what they do as the number approaches zero, which theoretically should be a limit.

I'm assuming they'll once again adjust the formula in order to reflect the facade they're promoting.

Fri, 03/06/2015 - 10:23 | 5861053 Grimaldus
Grimaldus's picture

We have the most "transparent" progressive regime in history.  I guess in the progressive dictionary transparent means lying.

Grimaldus

 

Fri, 03/06/2015 - 10:59 | 5861196 surf0766
surf0766's picture

Communist regime... They are just starting to show their hand

Fri, 03/06/2015 - 11:52 | 5861408 Doubleguns
Doubleguns's picture

In a land of negative interest rates couldn't the jobless rate go to -5%?

 

Maybe if they count the folks who lose multiple part time jobs at the same time? 2 or more lost jobs for one person!!

Fri, 03/06/2015 - 10:39 | 5861117 smokintoad
smokintoad's picture

I suppose these weasels could start claiming a person working two part-time time jobs counts as 1 1/2 employed people?

Fri, 03/06/2015 - 11:55 | 5861419 Doubleguns
Doubleguns's picture

I guess i should have looked one more comment down. 

Fri, 03/06/2015 - 12:45 | 5861633 sapioplex
sapioplex's picture

Wrong.  They're already counting two part time jobs as 2 employed people. They'd have to increase it from there.

Fri, 03/06/2015 - 10:50 | 5861159 TheFourthStooge-ing
TheFourthStooge-ing's picture

Once again, the numbers drum. May seem not possible, but do not underestimate the capacitance of 'american' ingenuosity.

US citizens have this knack for holding in the head a multiplicity of thoughts and ideas in contradictature. This is not a form of nutsery, this is exceptionalism.

Nothing stronger than 'american' confidence in overcoming the environment, so nothing they make can spiral out of control.

US citizen math running crowd will prove scientific feasibility of negative unemployments rate. Cat in the box stuff.

Fri, 03/06/2015 - 20:00 | 5863277 StychoKiller
StychoKiller's picture

Maffs is hard, 'specially frakshuns!

Fri, 03/06/2015 - 10:33 | 5861093 Chauncey Gardener
Chauncey Gardener's picture

Bullish!

Fri, 03/06/2015 - 10:10 | 5860988 NoVa
NoVa's picture

where is the Circus today and what time does it start?  

 

Fri, 03/06/2015 - 10:37 | 5861108 Chauncey Gardener
Chauncey Gardener's picture

Yeah, well don't expect to see any elephants. We're all Democrats now.

Fri, 03/06/2015 - 11:03 | 5861210 codecode
Fri, 03/06/2015 - 11:37 | 5861347 813kml
813kml's picture

I smell opportunity for unemployed obese Americans.

Fri, 03/06/2015 - 16:24 | 5862516 TheAntiProgressive
TheAntiProgressive's picture

That should also help the unemployment numbers, after all elephants don't count.  Look, a new job created.

Fri, 03/06/2015 - 11:09 | 5861232 RiderOnTheStorm
Fri, 03/06/2015 - 09:56 | 5860916 SethDealer
SethDealer's picture

working is so 1990's

Fri, 03/06/2015 - 10:06 | 5860968 rbianco3
rbianco3's picture

Seth, thank you for the morning smile. Anyone think John Galt is to blame? I know some people that knew some peoples that were under his influence for a few years -- until they ran out of money. 

Fri, 03/06/2015 - 10:07 | 5860969 Bearwagon
Bearwagon's picture

Exactly ... are you listening? I'll tell you sumpin': Those were better times! Much better.

Fri, 03/06/2015 - 10:17 | 5861019 Never One Roach
Never One Roach's picture

"Jobless rekovery" is robuster then they thought.

Fri, 03/06/2015 - 13:51 | 5861915 juantrades
juantrades's picture

free stuff is so much better.

Fri, 03/06/2015 - 10:20 | 5861040 Matthew John
Matthew John's picture

Right, so why are 62.8% working?

Chumps!

Fri, 03/06/2015 - 16:28 | 5862524 TheAntiProgressive
TheAntiProgressive's picture

Hamsters on a wheel chasing the fiat, created out of thin air, to feed the little ones and crack the monthly nut, maybe eat out once in a while to stimulate more food sector jobs.

Fri, 03/06/2015 - 09:56 | 5860913 Philo Beddoe
Philo Beddoe's picture

Dad, I got some bad news about medicaid. Dad, I have worse news about social security. 

Fri, 03/06/2015 - 09:57 | 5860922 SoilMyselfRotten
SoilMyselfRotten's picture

Don't tell him what's going to happen to his pension

Fri, 03/06/2015 - 10:00 | 5860934 Philo Beddoe
Philo Beddoe's picture

Dad was always a paper bug. I will explain it all to him once he is living in my basement. 

Fri, 03/06/2015 - 10:14 | 5861005 Bastiat
Bastiat's picture

Dad's paper is having another good day.

Fri, 03/06/2015 - 10:19 | 5861020 Philo Beddoe
Philo Beddoe's picture

It sure has been for the last 6 or so years. He is going to need all the help he can get. I just hope the ladder does not fall while he is reaching for yield/return. 

Fri, 03/06/2015 - 10:02 | 5860935 Philo Beddoe
Philo Beddoe's picture

DP

Fri, 03/06/2015 - 13:53 | 5861921 juantrades
juantrades's picture

My kinda fun

Fri, 03/06/2015 - 10:07 | 5860970 TheMeatTrapper
TheMeatTrapper's picture

What's a pension? 

Fri, 03/06/2015 - 10:36 | 5861102 HelluvaEngineer
HelluvaEngineer's picture

Something people that the fabled "middle class" used to have.

Fri, 03/06/2015 - 11:06 | 5861225 Scoobywan
Scoobywan's picture

A failed corporate / government ponzi scheme

Fri, 03/06/2015 - 09:56 | 5860914 yogibear
yogibear's picture

Demographics. Also means spending cutbacks.

Fri, 03/06/2015 - 09:56 | 5860918 Stoploss
Stoploss's picture

Everything is awsome!!!

Fri, 03/06/2015 - 09:58 | 5860924 hotrod
hotrod's picture

the Dow will retire everyone.  Need more Illegals.

Fri, 03/06/2015 - 10:15 | 5861011 HardlyZero
HardlyZero's picture

Roman Empirical Logic.

Fri, 03/06/2015 - 09:59 | 5860926 One And Only
One And Only's picture

This is actually good news.

Fri, 03/06/2015 - 10:05 | 5860948 GetZeeGold
GetZeeGold's picture

 

 

If you want to be an unemployed bum......it's great news.

 

Hillary/Jeb 2016

 

Let's not leave anyone out.

 

Jeb/Hillary2016

Fri, 03/06/2015 - 10:13 | 5861000 lakecity55
lakecity55's picture

Since we combined tickets, I, Hitlery as President and Jeb Shrub as VP will see that Americans will get what's coming to them!

Fri, 03/06/2015 - 10:37 | 5861112 HelluvaEngineer
HelluvaEngineer's picture

Don't forget their other cousin - Walker.  Maybe he can be first assistant to the Royal Family fluffer.

Fri, 03/06/2015 - 09:59 | 5860929 BlueHen1990
BlueHen1990's picture

Tyler, don't forget to post the graphic of those over 65 entering the work force. CNBC likes to push that narrative that the dropping labor force participation is a demographic issue, yet the drops are concentrated mostly among prime working-age Americans.

Fri, 03/06/2015 - 10:03 | 5860951 PirateOfBaltimore
PirateOfBaltimore's picture

UD grad eh?

and yes that's the most valuable proof that this isn't a baby boomer thing, it's young men who are dropping out as 65+ stays in.

 

The article from the other day about Americans spending more eating out was telling - at least we're utilizing all those newly minted waiters and bar tenders.

Fri, 03/06/2015 - 10:18 | 5861028 BlueHen1990
BlueHen1990's picture

Indeed I am! I like to brag about Joe Flacco & Rich Gannon being our alumni...I kind of pretend Joe Biden and Chris Christie aren't...

Fri, 03/06/2015 - 11:14 | 5861251 PirateOfBaltimore
PirateOfBaltimore's picture

Big UD presence in my family, and plenty of annual D1AA football rivalry going on between JMU, Richmond, W&M, and UD.

 

I try to forget about Biden and Christie constantly.

Fri, 03/06/2015 - 11:27 | 5861306 Ralph Spoilsport
Ralph Spoilsport's picture

"I try to forget about Biden and Christie constantly."

Those guys.....LOL!

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