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Americans Not In The Labor Force Soar To Record 93.2 Million As Participation Rate Drops To February 1978 Levels
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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Working is overated.
I was alive in 1978.....it sucked.
Now I get to do it again.....lucky me.
Again, every month the number just seem to go up and up.
Can't call this a recovery
http://www.dailyjobcuts.com
,
Winning the war on "unemployment". (By waging a war of attrition, lol.)
What is this?
Unemployment rate is way down since 2010.
Oh, yes it is.
Just look @ the #!!
Get a job!!
Work makes my head hurt.
Fewer jobs and more free time for everyone! Thanks Dear Leader Obama!!!
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...
Stay home moms are coming back!
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.
Back to the Carter years. This will turn out well.
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.
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.
pods
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...
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.
prison nation with militarized police.
We unemployed some folks.
So I guess this isn't because we're doing so well that mother's can again stay at home...
"Idiocracy" is now reality...Look for President Camacho in 2020 to bring your worries to fruition....
Hitlery is coming to the rescue.
She will make the golfer in chief look like an Abe Lincoln.
Glad I don't live there. :)
Since Carter TM
NoVa
We unparticipated some laborers.
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".
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:
https://www.google.com/webhp?sourceid=chrome-instant&ion=1&espv=2&ie=UTF...
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...
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: https://www.etsy.com/shop/ScentSavers
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
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!
More free time living in moms basement, jerking off to internet porn and eating stale cheetos underneath couch cushions. Hope and change bitchez!
Mom's basement, aka the bitcoin salt mines.
I think moms basement will eventually morph into a cosy encampment under a freeway ramp.
Miffed
As long as the overpass has wifi today's youth will be good to go.
I think you may have stumbled on the key to the revolution's unfolding.
Miffed
.."If you like your underpass"....
I imagine that was a lie as well.
works makes me not get tha free money.
[rolls over and goes back to sleep]
you can have your job and keep it too,. its the "living wage" part that most modern jobs cant supply
This is why they can't mandate a digital currency as many of these people part of the underground cash economy.
May we call it "the GREAT recovery"? :^)
No you may not. It's labelled, "The Robust Rekovery" according to Barry.
ME TOO! MY PARENTS PAID FOR EVERYTHING. IT WAS GREAT!
Those days are back! At least they are not living in the basement.......yet
I remember buying silver back then....my parents looked at me like I was crazy.
I was like.....just two more years.....you'll see. Then we dump it and run like hell.
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
Way ahead of me, I was working two jobs so i could afford to help my parents AND party.
Does this mean disco makes a comeback?
Yep. :(
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.
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
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.
And the women were thin, feminine, and tattooless.
And the men were strong from all the manual labor. The cars were fast.
And LOUD!
My older brother had a '70 Cuda and I was rockin' a '74 Honda CB 175. Damn good times. Brother was in the Airforce at Tyndall AFB and I was farm labor outside Tallahassee. Only white boy working. I got to drive the tractor. $20.00 a day. I was loaded!!
Cars were shit in the late 70's. CAFE standards started in 1978.
Ford Mustang II
Plymouth Arrow
AMC Pacer
I think the only decent car of '78 was the Porsche 928
Who could afford at new car in 1978....not someone who wanted the power...I drove a 69 Catalina with the 400 in it. Convertible to boot.
I bought my first car in 1978...a Honda CVCC hatchback Civic for $4500. Brand new. Cash.
Drove that thing for 13 years until the engine blew up.
Nice!
1978!?
My dad, Father Loki, still palys his old LPs from that ancient epoch: Ten years After, Roxanne, Cheap Trick, etc.
Drives Mom crazy.
Me too. 12 mpg @$0.52
BH +1
Had a '87 and a '91, Tony Lupine was a god and Ferdinand considered him a son. Everyone else in Stuttgart despised him.
You could turn off every interior light including the dash and when driving on the highway fast at night it was like being
in a flying saucer. Whereas the 911 would soon enough kill you in a hard turn the answer always in the Landshark was more gas.
Thanks for reminding of all the nice times in the those cars.
Hey, don't know the Plymouth Arrow. It was brought to us by the same folks that built the Mitsubishi Zero in the early 1940s. Knew a guy who had an Arrow. The license plate read "Zeke". Few understood.
By 78 the fast cars were all watered down with smog shit, and coporate engines. Pontiacs used Olds, Buick and Chevy motors. We had Pinto's, Mustang II's, and the Chevy Monza, and the AMC Pacer.
Women were also prescient....they supported Bush
78 was a great year for music.
Pretenders, Ramones, Sex Pistols, Talking Heads, etc...
Steely Dan, Fleetwood Mac, etc...
I think in 1977 David Allan Coe wrote this song that might be a good way to describe the labor participation rate bullshit.
TAKE THIS JOB AND SHOVE IT
https://www.youtube.com/watch?v=TOIdsM8FrIk
1/93,199,999 aprox, ha. yup, I am being counted. unemployeed, college degreed, common sense,40 plus years experience, BUT NO DECENT PAYING JOBS. tons of shit jobs thou...
i'm guessing 1 good job per 100 qualified potential applicants.
fucked up dude.
apathy runs wild, ha...
The "Information Age" has transformed into the "Fraud Age"!
It's an awesome American Renaissance happening 29.5 hours at a time if you're lucky.
Naw, that's being negative...there are plenty of reasons to be optimistic about the future. Let's make a list!
Wait lemme think...ok you go first.
Rush's Hemispheres
Lynyrd Skynyrd, the Stones, Ted Nugent, Journey, Boston, Bob Seger, the Cars...
Lots of good bands back then.
Yeah...you could afford the stuff because you didn't have a cell phone bill....and health insurances? That was for old people. Getting on an airplane wasn't like going to visit someone in the state penitentiary. You might be able to fix your own car at the very least maintain it. Occasionally you ran across real silver in your change and you weren't constantly judge as judging too much. "Mind your own business" was still an acceptable reply.
"Mind your own business" is still a common refrain heard from my mouth in response to nosy assholes.
We need to bring it back BIG TIME! "Sharing" was something you did in Kindergarten.
I used to hate the Seventies but the older I get, the better it seems. Seventies retro is cool again--even disco (kinda, sorta). Aside from cappy American TV sets and the energy crisis, things weren't too bad. Best of all, you actually got decent interest on your savings, even if mortgage rates went to the moon.
Despite all the technology at their fingertips, I really feel sorry for kids today.
yup..... the incompetent pathologically lying fudgepacker sure is doing a good job... now time for a round of golf at the sucker tax paying US citizen serfs and peasants expense...
'78 was cool. Stones last good album, Elvis was either dead or alive, and you could still see a full bush in Playboy.
Graduated High School in 78 and was ignorant of how bad it was going to get even though my daddy warned me about all this. Now it's more guns and ammo like he said. How did he know?
no kidding.
C'mon. You're a Journey fan. Admit it.
Music was pretty good.
But music was good
70 million of your fellow Americans would appear to agree!
Why would anyone work when money is "free"....? (zero interest rate policies and QE)
So too, apparently, is sllep ckeching teh atriclse no herozeged.
Long illegal aliens and Skynet
I wonder when unemployment claims start rising when the shale debacle finally rears its head in the employnent numbers
There is no "unemployment." There is only "not in the labor force."
I don't understand all of the grief!
This is obviously GREAT news. We are becoming increasingly so wealthy that we don't need to work anymore.
We are WINNING!!!
And getting thinner due to our new, more progressive, limited diet.
I live close enough to some of the major oil and gas plays in the US to see this shitstorm firsthand, and the avalanche of layoffs is just getting started here. My boy sells industrial supplies, and he is seeing some serious clouds on the horizon for the oil patch and the rest of the regional economy. But of course, the only place you will hear this "bad" news is on ZH and few other places around the interwebs.
But the good news is that we have Cankles and Change (or is that Hope and Cankles) coming in 2016 so everything will be fine...
Back to the Future. They will have to roll her into the WH, that gurney will need a good suspension.
.... the country needs another clinton or bush as much as it needs another term with the fudgepacker.... but don't hold your breath... the latter may be coming when the fudgepacker declares martial law before the election...
Why would they ever do something dumb like cancel elections?
Elections are the perfect cover for ruling. Whoever gets in is owned, and the people can get their "democracy" good and hard.
When people start to get upset, you tell them to "get out and vote."
Mandatory elections coming before you ever see them cancelled.
pods
Yeah we get to vote for THEIR candidates. Winning!
Good call, pods. Mandatory voting is on the way, after all, it was our fault that things are screwed.
Lot's of forward thinking countries boast of 100% voting today, why should we remain stuck in the ditch of the past?
Forward Comrades..
Is this going to force the obama admin to start telling the truth about jobs in this country? HAHAHA as if...
And the gold, silver markets are closed till Sunday. Should be an interesting week for us here. Recovery, sure, you bet...for the top 5%. For the rest of us, one giant, ill conceived House of Cards.
Yeah trash the Christians all week....but if it means a day off...well we must be respectful.
I'll be enjoying a variety of meats today.
Yeah trash the Christians all week
Go ahead and trash us MSM.
Half a million in one day.....do you think you have this much support?
http://www.gofundme.com/memoriespizza
Raised by 17,566 people in 1 day
Quick note to the MSM.....we surround you! No screaming, no rioting, no burning down buildings, no celebrities, just action.
First Sunday after the first full moon after the Spring Equinox. What's the moon got to to do with Easter? Apparently everything since the Jesus people horned in on their lunar holiday celebrating Easter Fertility, flowers blooming, Easter rabbits breeding, Easter Eggs for reproduction. The Easter Fed printing, gee, people will buy in on anything.
Count back 45(?) days will get you back to Ash Wednesday, and the day before that is the reason all Mardi Gras drunks learn these silly calculations. Most calendars do not show Fat Tuesday. Piss poor planning kills, gotta be ready!
Why work a low wage job with no benefits when you can go on disability or welfare and collect food stamps and free medical? With greater than 50% of muricans now collecting some form of guv check every month what could go wrong?
I think France ran into this in the last twenty years. I think they responded to it by reducing the amount of hours a person could work to 35 or so. Wonder what would happen if that was done in the US? Implications on Healthcare?
And I suppose I would still be working 60 or so as a business owner.
To improve morale, working hours will be reduced from 29.5 to 35 per week. And just to show we want workers to be happy, weekly pay will be kept constant.
They want us all to be neutered indoor cats. Live a long shitty stretched out existence to never enjoy the life that is outside the living room window.
Beats being in jail at least.
How so?
A dog with an electric shock collar is just as caged as the one with a fence.
I'm the most liberated slave on the plantation!
Well for one thing you don't share a room with.. ah, well forget that.
Im an indoor neutered cat. I take offense to that
Im an indoor neutered cat. I take offense to that
Free range chicken versus living in the farmers coup.
Life outside that "long shitty stretched out existence" is nasty, brutish and short. Lots of humans don't want to deal with that, and worse, probably can't.
And that is your minimum wage. Benefits and entitlements are the real minimum wage as they directly compete with wages. We have no idea what the true costs of anything are today as the government has woven itself into every financial consideration. We have no idea how much of everything we buy is taxes and other government mandated expenses.
And that is your minimum wage. Benefits and entitlements are the real minimum wage as they directly compete with wages.
I have never read that premise stated so eloquently. Can you be my economist?
why then do we keep electing the same creeps every single election?
Whore please. Electing? No one is "elected." These Criminal Pure Evil Psychopaths are Selected.
+100 ..lol @ "elected still"..damn you sheeple (whore im looking at you bruh) are an amazing species all your own.
Concur.
Used the tem electing to use common parlance. Selected it is. How else could you get Jeb or HRH Hillary.
But on the local level sometimes it's even worse. Called my local congress critter. A Republican Suburban Housewife. Couldn't be bothered with riff raff like me. What she talks about are ISSUES, important only to her and her ilk, like gay crap (who cares if they want to get married and suffer the same hell most heteros do) or edumacation standards in our public schools (like paying school administrators almost 400,000 as if they can solve what can't be solved). Why do we put up with idiots like this in Congress? All she's doing is accumulating cash to go shopping at Nieman's or Tiffany's.
electronic voting. proof was provided to all the congress, they did nothing. hope that doesnt ruin your day. you could watch/listen to something besides political news in your day and have more fun.
The debate should be over the evils of ALL licensing, i.e., govt sanctioned activities.
Bingo. It takes a lot of fiat to get "elected" and in America all that fiat comes from a single source.
Don't worry about this, I saw Obama talking about it on the interwebs - he says things are good, strong even. My cat's got ''scrip for pain post-ear surgery: I grind those up in my coffee, and sh*t seems double-plus good. DOUBLE PLUS.
"... and I just commuted the sentences of some base cocaine dealing folks...
It's very "Robust" ... whatever he's talking about, it's very "Robust."
One-third of U.S. companies' first-quarter job cuts due to oil prices, report findshttp://www.bizjournals.com/houston/morning_call/2015/04/one-third-of-u-s...
Pussy drugs
Nothing to see here, move along.
Jan Hatzius on CNBC this morning saying he doesn't believe this is some sort of secular stagnation in the economy. <rolleyes>
Yeah, I'm sure HIS economy is doing just fine. Everyone else... YMMV.
Since Lehman TM strikethrough
Since Carter TM
Jimmy had his (actually ours) oil crisis, consequence of Nixon's removal of the gold standard and Arab world reaction to the rise of fiat.
Now Obama has his own arab world crisis (again now ours) a direct result of his actions.
NoVa
truly a brave new world!
Considerable. Considering the Slave labor camp of the Criminal Fraud UNITED STATES CORP. INC. houses only 350 million Citizen Slaves.
I remember the 70's as being a great time for families as 60% of mothers with children were able to stay home and still make ends meet.
We have gone fullcycle.
Where is the Beavs?
I was talking to a young fella about this yesterday, he is around 19.
He sees it coming too and he is not an economics expert. He was layed off a few months ago and he knows what his friends and peers are going through. He knows it will be tough later this year if he can't find work.
We are all in the same boat. He and I were downtown and trying to find parking. The don't even have parking attendants anymore, that is automated. We parked on the street and when we returned, it was 2 hour parking and we were there for about 2 hours, .gov made sure we had a ticket, they want their money.
If you are not working in health care, social networks, .gov the future is uncertain and may seem bleak.
However, it will change one way or the other.
Oh puleezse you two sound like a bunch of two elitist limosine liberal yuppies.. You drove 'downtown' and tryed to find parking?? The subway not good enough for you?? or even a cab?? You parked on the street?? The horror, were the garages full?? people in Manhattan seem to all drive BMW's with the BMW from Manhattan license plate frame and park in garages (where they charge 18.25% tax)..
why do you double post everything? you look like a technologically ignorant moron.
Its a new form of computerized posting: The A-hole Bot.
Oh puleezse you two sound like a bunch of two elitist limosine liberal yuppies.. You drove 'downtown' and tryed to find parking?? The subway not good enough for you?? or even a cab?? You parked on the street?? The horror, were the garages full?? people in Manhattan seem to all drive BMW's with the BMW from Manhattan license plate frame and park in garages (where they charge 18.25% tax)..
You sound ill informed.
Not all cities have subways or decent public transportation and when you live in a rural area the only way other than walking 60 miles or horse back riding is by vehicle.
You obviously have never left your six square block of concrete jungle.
Mark Zandi is a silly goose!
Mark Zandi is a lying Moody's peice of crap pump monkey.
And Zandi has a PhD? Where did get it from? An online site?
I got my degree from Keynesian Bullshit University online and you can too!
But but but.... the BLS says unemployment rate is 5.1%
They're referring to the lab sample......and that's true.
I remember the 70's couldnt find a decent job even with my degree.
Also in 1978:
The average new home was $54,800.
The average rent $260.
The U.S. stops production of the Neuton bomb. (The one that wipes out people but leaves buildings...wink...wink)
The Cult leader Jim Jones instructed over 900 members of his church, "People's Temple", to commit suicide in Guyana
"Shadow Dancing" was the number one song from Andy Gibb
Ahhh....1978
And we still had the Iran hostage crisis to look forward to the following year!
Yankees were World Champs. Reggie! Reggie!
The 'Average New Home' was not 4000 square feet with the tacky double story foyer & the even tackier 'double door entryway' for a couple or a family of two adults & one child, the average person did not pay $150 a month for 'cell phone service', the average person did not pay $200 + for cable + internet 'bundle'. Going out for dinner once a month maybe NOT every night and now people ('Goto" or "get" dinner not eat dinner)... and of course you didn't have 20 somethings driving the equivalent of todays BMW X5's or wearing $300 sneakers
yeah, I don't know that that is the average family. There certainly is a lot of that going on, but there are just as many that are doing without.
we don't have cable.
we don't go out to eat, unless someone gives us a gift card.
certainly don't drive a BMW. we drive used cheap cars.
we do have a track phone for about $10 a month.
our house is used, and about half that size.
we do without. we save. and still, we are being crushed by inflation. feeding the family is now over $1000 a month. clothing them is also through the roof. yeah. gas is down. whoop dee doo. oh, and our health insurance is up. our utilities are up. our taxes are up. it's a never ending game of finding things to cut and do without.
Cat food and canned spam should help cut down that food bill of $1000 a month