Americans Not In The Labor Force Soar To Record 93.2 Million As Participation Rate Drops To February 1978 Levels

Tyler Durden's picture

So much for yet another "above consensus" recovery, and what's worse it is, well, about to get even worse, because while the Fed keeps baning some illusory drum that slack in the economy is almost non-existent, the reality is that in March the number of people who dropped out of the labor force rose by yet another 277K, up 2.1 million in the past year, and has reached a record 93.175 million.

Indicatively, this means that the labor force participation rate dropped once more, from 62.8% to 62.7%, a level seen back in February 1978, even as the BLS reported that the entire labor force actually declined for the second consecutive month, down almost 100K in March to 156,906.


Why is this important? Because as long as the true employment rate, that of the civilian employment to total population, remains at depression levels, there will be no incrases in average hourly earnings.

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JPMorgan's picture

Working is overated.

GetZeeGold's picture



I was alive in sucked.


Now I get to do it again.....lucky me.

Shocker's picture

Again, every month the number just seem to go up and up.

Can't call this a recovery



Macchendra's picture

Winning the war on "unemployment". (By waging a war of attrition, lol.)

MalteseFalcon's picture

What is this?

Unemployment rate is way down since 2010.

Oh, yes it is.

Just look @ the #!!

Get a job!!

Creepy A. Cracker's picture

Fewer jobs and more free time for everyone!  Thanks Dear Leader Obama!!!

new game's picture

beaners galore, will work for less than skillset value BECAUSE we are moar numerous than jobs available due to the corporation outsourcing manufacturing to lowest common labor cost and mexico is way worse...

Publicus's picture

Stay home moms are coming back!

Dr. Richard Head's picture

Talked to a hedge fund manager on a gondola ride up to the peak of Killington.  He said the number of people not employed,as a direct result of Fed funny money, is "Absolutely great!!!"  I shit you not.  Those guys have no soul. 

whotookmyalias's picture

Back to the Carter years. This will turn out well.

rbg81's picture

Carter must be estatic because Obama is making hiim look like a fucking genius.    The only thing that worries me is eventually we'll get a President who makes Obama look good. Shudder.

pods's picture

We will, and a lot sooner than we all hope.  Wait till we get to the guy who actually says that SS and Medicare cannot possibly pay out the $120 trillion in future benefits.


jbvtme's picture

1978...i was driving at 10:30 pm in podunk massachusetts on the way to the cape.  case of heinekin in the back seat freshly cracked.  ounce of bud in the glovey and a gram of coke over the visor.  we show a local cop car our tail lights at 30 over and soon we're at the side of the road in the confessional booth. license and reg he says with eyes and flashlights all around.  he sees the dope, beer but not the gram above.  "know how fast you were going"?   several contrite phrases later he hands me my papers and sends me on my way. "slow down and drive careful" he says.  not even a written warning.  i have to change my shorts every time i tell that story.  if it was now,  i'd be servicing a dozen prison gang members at the local for profit house of correction.  if i was lucky...

Temporalist's picture

Not necessarily.  Today they'll just beat you and take all your shit and may let you go...but definitely take all your shit and money.

Four chan's picture

prison nation with militarized police.

847328_3527's picture

We unemployed some folks.

bob_stl's picture

So I guess this isn't because we're doing so well that mother's can again stay at home...

Alien 851's picture

"Idiocracy" is now reality...Look for President Camacho in 2020 to bring your worries to fruition....

cherry picker's picture

Hitlery is coming to the rescue.

She will make the golfer in chief look like an Abe Lincoln.

Glad I don't live there. :)

NoVa's picture

Since Carter TM 



Temporalist's picture

We unparticipated some laborers.

chunga's picture

The QE effect on main street seems to have made regular people with decent jobs obsolete.

In hedge fund manager parlance that's probably called something catchy like "synergy".


Nobody For President's picture

On the other hand, Dick head, at the risk of lla bunch ofd down arrows, what the fuck were you doing on "a gondola ride up to the peak of Killiington"?

When I was in college, the rich kids all went off to ski on the breaks in winter - I stayed and worked. Killington, last time I looked, Killington was a ski resort:

Although lift ticket prices are still reasonable, albiet for a east coat 'mountain' that is a hill on the west coast.

So fuck you so feeling so superior to the hedge fund manger - you are fucking priveliged enough  to go skiing, which is a very up-scale entertainment. 

Next post, put down the rednecks that ride snowmobiles. 

Anybody can lack souls... 


realmoney2015's picture

That's exactly right. That makes these numbers even worse. Women weren't in the work force like they are today. 

On a realted note, this is why they pushed so hard for women's rights. They wanted them in the work force to hide the inflation theft by the Fed. One man, who wasn't college educated, could provide for his family and still save up for retiremnet. Now college educted couples work themselves to the grave....or, of course, they just soak up the welfare and steal from our future generations. 

Instead of leaving our children and grand children with debt, we should leave them with wealth. Real estate and precious metals are a great way to ensure the wealth is preserved. Personally, I am giving these candles with silver coins as gifts for Easter:


doctor10's picture

The process is called "asset-stripping"

In Europe and the USA it works as follows

Income taxation and the IRS reporting requirements provide the road map; targeted tax increases and regulation provide the mechanisms of extraction. 

When vote time comes the immigrations gates are opened to drown the native opposition to being raped yet again

Rinse Repeat


The guys enabling it all make out pretty good


booboo's picture

Mom (or Dad) needs to stay home and raise her brood instead of outsourcing. The whole working mom meme was spawned by the bankers to compensate for inflation and the proles bought it hook line and sinker and even defended their own prolonged ass fucking. America fuck yea!

foodstampbarry's picture

More free time living in moms basement, jerking off to internet porn and eating stale cheetos underneath couch cushions. Hope and change bitchez!

813kml's picture

Mom's basement, aka the bitcoin salt mines.

Miffed Microbiologist's picture

I think moms basement will eventually morph into a cosy encampment under a freeway ramp.


813kml's picture

As long as the overpass has wifi today's youth will be good to go.

Miffed Microbiologist's picture

I think you may have stumbled on the key to the revolution's unfolding.


PoliticalRefugeefromCalif.'s picture

.."If you like your underpass"....

I imagine that was a lie as well.


readmylips's picture

works makes me not get tha free money.

[rolls over and goes back to sleep]

analyzer_66's picture

you can have your job and keep it too,. its the "living wage" part that most modern jobs cant supply

de3de8's picture

This is why they can't mandate a digital currency as many of these people part of the underground cash economy.

TheGreatRecovery's picture

May we call it "the GREAT recovery"?  :^)

Son of Loki's picture

No you may not. It's labelled, "The Robust Rekovery" according to Barry.

Mitch Comestein's picture


thinkmoretalkless's picture

Those days are back! At least they are not living in the basement.......yet

GetZeeGold's picture



I remember buying silver back parents looked at me like I was crazy.


I was like.....just two more'll see. Then we dump it and run like hell.

NoVa's picture

listening to one of the most under-rated rock bands = Be Bop Deluxe

Bill Nelson is one of the greatest guitar player singer songwriters EVA


headhunt's picture

Way ahead of me, I was working two jobs so i could afford to help my parents AND party.

grunk's picture

Does this mean disco makes a comeback?

Buckaroo Banzai's picture

Disco is fucking awesome compared to popular "music" today. Can you imagine exposing somebody from 1977 to the autotuned shit-sandwich that passes for music today? You would get punched in the face.

Milestones's picture

Better!! Go back to 57 and dig Parker, Miles, Getz, Coltrane,, amhad Jamal Basie Kenton, Ella Sarah, Sinatra. Only thing I heard inthe last 20 is Quincy doing was "Juke Joint"           Milestones

Captain Willard's picture

The BeeGees "Stayin' Alive" was the #1 song ....... so yeah, that part sucked.

We had cheap, stinky weed and expensive gas. But at least we were young. And we were in the fucking labor force too, I might add.


FreeShitter's picture

And the women were thin, feminine, and tattooless.

Janice's picture

And the men were strong from all the manual labor. The cars were fast.