This page has been archived and commenting is disabled.
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.
»
- 74553 reads
- Printer-friendly version
- Send to friend
- advertisements -
Spam is not really that cheap anymore.
Neither is cat food. And have you paid to have one neutered?
yeah, I have been helping out a young relative financially who is saving for his first car.....thinking he would get something cheap and practical, nope, wants his first car to be a late model RX8, I'm driving a 2002 Holden Commodore, which is brilliant because I can do all the servicing myself, don't know what I will be able to replace it with one day.I have tried to talk to him about the depreciation on a RX8 and maintenance costs, but I guess he will have to learn himself.
This is the thing. America and many other advanced societies have migrated from a manufacturing economy to a service economy.At the same time the products that we purchase (largely from our overseas competitors) are not serviceable. Their technology is advanced enough to require very little service and when they do, no one knows how to fix it, unless it is a simple part change. SO instead of repair we throw away...and buy another newer and even less serviceable one.
Is there a trend here? Buying foreign goods that ultimately prove too expensive to service, with money we can't repay, while surrendering our jobs to prevent us being able to purchase or repair?
But at least we still have a strong dollar......
Simple math says that the lifestyle you describe can not be 'Average'.
93.2Million not in the labor force.
35% of workers (at minimum) with earnings low enough to qualify for government assistance. ($17,655 for a single worker/no dependents)
Another 25% (at minimum) making too much for assistance, but not enough for anything close to what you describe. (60% earning less than $37,000 a year)
The idea that what you describe is average is propaganda so that the people struggling at the bottom think that it is "just us" and that the country overall is okay.
...and there was only one Stah Woz movie...and Bwahstin was thumped by a blizzid. Wickid bizahh.
Was the Universe in Star Wars real?? Was Yoda a real creature????
Was the Universe in Star Wars real?? Was Yoda a real creature????
So the best thing in 1978 was Shadow Dancing, I knew that was a sucky year, good to see my old memory is still functioning.
And my new 1977 Chevy Malibu Classic window sticered at $3500.00.
Avocado and Burnt Orange....Bullish!
LFPRX - This ETF is leveraged 3X and is designed to track the cumulative negative Labor Force Participation Rate. Blackrock recommends investing in LBO funds that force massive layoffs in order to maximize the profits on this ETF.
these numbers cant be true.
the dow is at 17600, the s&p is at 2062, and the nasdaq has touched 5000 multiple times in the past few weeks.
the stawk market says the economy is doing great, and that obama is leading a great recovery. obama has also stated in many speeches how great the economy is doing, so there is no way he would lie to us about that. also, the stawk market is the economy.
buy ur stawks now, the economy is so great, obama, best recovery ever.
I hate to be the sick mother fucker but I would love to see Obama's market performance come in at unchanged to negative before he snakes out to retirement. That's a hell of a drop but it would definitely give me a woody
Lying cheating bullshitter
Unlikely to happen absent a big crash, since he came in at the bottom of the last big crash.
Since then he's been king of the dead cat bounce, and called it macaroni.
What ever happened to the '60s when you could quit a job and be working at another one in 2 weeks, max.....
You can if you are between the ages of 22-35, white or Asian, have a college degree, and have an IQ and Social Skills above that of a block of wood
So if your 36 and Black, your screwed, sounds a bit rough.
Yes pretty much if you are an American Black. Caribbean blacks (the ones who talk with the west indian accent) do much better in the labor market. Lets pretend that in such progressive cities like NYC, San Francisco & Boston discriminiation by race & age doesn't exist right (for white collar corporate jobs) and the most qualified applicant is always selected right?? Sure, maybe at Starbucks or Target with their 'touchy feeley' in your face approach to 'diversity' and raising pay a whole dollar
Yes pretty much if you are an American Black. Caribbean blacks (the ones who talk with the west indian accent) do much better in the labor market. Lets pretend that in such progressive cities like NYC, San Francisco & Boston discriminiation by race & age doesn't exist right (for white collar corporate jobs) and the most qualified applicant is always selected right?? Sure, maybe at Starbucks or Target with their 'touchy feeley' in your face approach to 'diversity' and raising pay a whole dollar
Evidently you haven't been following the hiring practices of our government, from local tothe White House.The only "growth" industry left.
"What ever happened to the '60s when you could quit a job and be working at another one in 2 weeks"
It's called outsourcing your manufacturing and tech jobs overseas.
The Fed's stimulus stimulated overseas workforce and importers. Very little in the US.
Welcome the the oligarch's new world order.
Yes, Ross Perot was right.
And we have Perot to thank for Slick Willy.
2 weeks? You walked across the street and had a new one the same day!
So the good news would be that the unemployment rate will drop, to what? 5%.
That will have the piss stream media wetting themselves for Obozo's victory!
From Wiktionary:
baning---the present participle of bane.
bane (plural banes)
Retailers are Raising wages NOT OUT OF THE GOODNESS OF THEIR HEARTS BUT BECAUSE THEY CANNOT ENOUGH APPLICANTS!!! Everywhere in the Boston area, there are "Now Hiring" signs on virtually every retail store.. Most recent college grads have on average 17 (yes seventeen) job offers to choose from according to the Massachusetts Labor Secretary and even non union blue collar unskilled labor pays $13 an hour...
And what is the "pay scale" for the competing benefits and entitlements offered by government. The only way there can be jobs unfilled while we see these massive numbers of people "not participating" is if they are "otherwise employed". I would contend that the vast majority of those unfilled openings are at a pay directly competing with government payments. Otherwise these people would be starving or working off the books for cash.
Being a conservative I have supported those policies that were supposed to get people off of welfare in into work, but have often found myself repulsed by the notion of their talking point of "getting people off of welfare roles and onto taxpayer roles", as it is apparent that all of these policies are about government, not the people. Yes we need makers, not eaters, but it would be nice to think that all of us are threatened by a government that has no restraints beyond how many of us they can eat.
Someone bought into the Cloward-Piven strategy...
Robert Schuller is working in heaven.
If you want some real comedy, go over to MarketWatch and read articles by that fucktard Rex Nutting, who claims that the drop in labor participation rate is great because it just means more baby boomers are enjoying retirement.
Its absolutely true. 85% of the 'drop' in the labor participation rate is due to baby boomers (the ones Gen Y hate but willingly accept handouts from to pay student, auto & credit card debts)
Back it up with facts. There are only 46 million retired americans. What are the other 47 million doing?
Its absolutely true. 85% of the 'drop' in the labor participation rate is due to baby boomers (the ones Gen Y hate but willingly accept handouts from to pay student, auto & credit card debts)
Here is a ZH article that contradicts your CNBC research.
http://www.zerohedge.com/news/2014-10-03/hiring-grandparents-only-230k-september-were-added-55-69-age-group-10k-lost-prime-25
"(the ones Gen Y hate but willingly accept handouts from to pay student, auto & credit card debts)" - ?
JMTs a dumbass.
Those boomers what ever they have left actively participated even through silence the endebted enslavement of future generations. See the problem now is theres nothing left to finance for mainstreet. Wallstreet has a printer...but we dont.
You understand?
I dont want to talk about the past..i want to deal with now.
RIPS
You can blame the Fed for inflating several bubbles, and I am sure the Fed is confounded as to why their free money is not helping the Main Street economy -- but you do have to place a lot of the woes in the Main Street economy on the combination of Obama and the one-party Congress. Maybe Harry Reid is finally seeing how much damage he has caused and knows that he has crushed Main Street.
Reid is a douchebag. He just determined he stole enough
Buy American - The job you save may be your own.
That right there is funny.
Head on out to your local department store, and try to buy American.
An exercise in futility for sure.
Hunted for a month for an american made shallow well pump. None to be found. Forced to buy a Chinese made pump from Tractor Supply. Used to go there for my boots but they switched to Chinese last year. Not picking on them,,, all the retailers are like this. The whole damn situation is so sad I almost cry....
Perhaps use a pump rated for oilfield work, plenty around right now and they are American made.
I do.
American name. Made in China on the bottom tag.
Mericans have no sense of loyalty, even to themselves. They flock to all the stores loaded with foreign goods, Chinese leading the pack, like flies to shit. They can't even be shamed any more. They stand proudly with their Chinese made ithingy's and what have you. When mentioning their jobs may be at risk they say they don't care,,, there's enough gov freebies to keep them going.
Nope, no more a proud and independent people like their forefathers.
Doesn't matter when the government sells us out with free trade agreements that lose the country money.
I guess this means that by the time I graduate with my Phd I won't have to look for work. Good.
Live by QE, Die by QE
And if you found that employment went up because you had enough mason tenders to build a building, you had people to cut and stack sod and work as framers so builders could build homes. 4 white guys with a hammer does not a subdivision build.
Did you think of that
I would like to see Labor Force Participation Rate charted against Illegal Immigration Rates... Just sayin'...
That immigration is just part of the globalization process the corporations are shoving down Americans throats via their bought and paid for representatives in Washington DC. Even the supposed hero's , Ron and Rand Paul are libertarians and have no issues with that. True Libertarians don't believe in nations or borders. They conveniently forget to mention that while drawing in many people to their party that are clueless. The DemoPublicans are just flat out traitors and only represent the highest dollar. In the name of globalization this hard working and productive nation has become the largest welfare state in the world in less than 30 years.
Forced immigartion is simply a way to destroy the culture of America. They don't want the strong independent man culture the US formerly had. They want a weakling government dependent society. And they are getting it. Witness Obama's pajama boy
In 78 I was working 50 hrs. a week and I could have worked more.
So. Cal was a boomtown back then for me. Not so much back in the Northeast. The original Silicone Alley was the 128 belt hwy. around Boston and it was dying.
Raytheon, Sylvania, Honeywell, Textron etc.etc.
They really hated and felt the end of the Vietnam War.
The situation now is probably worse than what it was in 1978 because I suspect that the definition of employed in 1978 was probably one that required more hours of work than today's definition of employed.
Blame the wetter
Climate change?
Funny that is the year I got out of the Army and got a job compounding chemicals.We use to use a lot of carb cleaner.
It's too expensive to work.
I have a solution to the unemployment problem or at least the beginning of a solution.
For example, I would make parking lot owners hire attendants for their lots, otherwise the lots would be closed.
As an incentive, by hiring someone and taking a person off the public dole, I would decrease the taxes and reulatory fees to the parking lot owner. This way there are people on site at all times to service customers, the attendants have a job and paycheck and customers will be happier.
I think this thinking should be implemented in a lot of areas machines have robbed people of employment.
They do stuff like that now but no one will hire you if you tell them you are on welfare and these hiring subsides only apply to those. The only way to a job from the bottom is to lie and say you are employed somewhere and have someone answer the number you give as if.
Feeding your family is more important that lying on a application.
I've been there, feeding a family and I agree with you. They force people to lie to make a buck.
If a lie is required to feed children and provide a decent roof over their heads, you got to do it.
When people steal to feed children, I can understand it.
Unfortunately there are many who have never been there making the rules, they just don't know what life is about.
Ah, hell, I'll go you one better.
Require all the banks that got bailed out by taxpayers to hire actual US based fluent English speakers to answer their phones and ban the damn automated phone trees.
So like Oregon where you are supposed to have an attendant pump gas. That shit was funny when I drove through. I had started filling my tank and this guy tells me I can't do it or something. It was already started. Fuck me. If attendants brought value they would still exist. How about? Get rid of the income tax. Taxing labor & productivity is the biggest fuck you.
Any wage increase without a corresponding productivity increase is merely inflation. Productivity gains is what allows wage increases. That's why the minimum wage argument is so flawed. Sure I'll give you more and I'll raise my prices to compensate as will all other businesses so you get exactly zilch. You don't make more money, you just handle more money
The laborer's are building a printing press so they too can be kings.
I still remember going to Wal Mart during their big "BUY AMERICAN" theme in the 1980's while on the side they were scheming with other corporations and government to destroy this used to be productive country.
They succeeded and now are the largest shit job employer in the nation.
Paul Craig Roberts has a great video on USAWatchdog.com from this week. He drives home how John Williams data is better and how inflation means GDP is really Negative since 2009 or something like that date.
worst since 1978
http://www.shadowstats.com/alternate_data/unemployment-charts
http://explistats.com/economic-activities/household-survey/?tab=t-1&0=all&1=comb&2=0&3=0
Anybody care to imagine what the labor force participation rate will be like in 10 years once the hamburger making robots and self-driving cars & trucks have taken over?
I imagine the labor camp participation rate will be through the roof...
You'll be fixing drones in a Chinese factory.
Factory, labor camp...
WHAT DIFFERENCE DOES IT MAKE
FUN CAMPS
I bet the real numbers are worse.
All going according to plan.
Jade Helm 17
don't tell me,'its the snow',i mean THE SNOW JOB! this pos goldman sack-a-shit phony economy is going to get some serious inflation when the greenback fiat trash comes back in a tidal wave, keep stacken bitches!
don't tell me,'its the snow',i mean THE SNOW JOB! this pos goldman sack-a-shit phony economy is going to get some serious inflation when the greenback fiat trash comes back in a tidal wave, keep stacken bitches!
don't tell me,'its the snow',i mean THE SNOW JOB! this pos goldman sack-a-shit phony economy is going to get some serious inflation when the greenback fiat trash comes back in a tidal wave, keep stacken bitches!
"Can't call this a recovery"
Of course you can, if you're a liberal. Facts are completely irrelevant. Messaging is all that matters. And a dumbed-down citizenry.
So here is what is not being spoken of. If you happen to be a critical thinking individual, within most of these companies you will be outed. When they do let you go they ONLY have to have a PRETENSE, then you get NO UNEMPLOYMENT BENEFITS. Now the other thing you are dealing with is a culture of WHINING. I actually was in the southwest conducting pipeline integrity and had two snot nosed kids COMPLAIN about dust! These whining entitled brats. THere are "engineers" complaining that people working over 80 hours a week while they might do 50 a week MAKE MORE MONEY. Here's the thing kid, those guys and gals doing the work FUND YOUR PAYCHECK. STOP engineering from a desk. Hell I could go on and on (CLEARLY :) One manager when asked whether he would go out in the field stated "F&*!K THAT". Thats right gang you are being managed by a bunch of child like entitled shits;nevertheless, it is time to get off your ass, drop your pride and make something happen for yourself. It is shitty out there but the only thing thats going to make it better is decent people getting back in the workforce. You'll have to stick together because the entitled ((4%), sociopaths (4%) plus psychopaths (2%) are running the show.
Amen!
The bigger the employer, the less that employer wants employees to make their own decisions.
I think some USA Baby Boomers spoiled their kids, and some of those spoiled kids learned they can get more by whining and pretending to be martyrs.
And why not? After all, whining and pretending to be martyrs is an essential propaganda element in the dogma of some of the most powerful "churches" and other behind-the-scenes power groups.
"Being a martyr means never having to say you're sorry".
I hope that those who work 80 hours a week are getting PAID for 80 hours a week. I wonder whether the engineers complaining about being worked 50 hours a week are getting paid for only 40 hours a week. ALL workmen are worth their wages.
And the comical news report from the US regarding all of this, https://www.youtube.com/watch?v=mAwVIZDAUF0
Some folks arent working
How much of that is boomers who retired.
This storys always have the what but rarely the real why.
I don't think they're counted if they retire, don't have a ss# or kill themselves.
There are approx 46 million retired americans. That leaves 47 million who ain't working
It's all ball bearings these days... This country needs an enema.
At least we're #1 at unemploying some folks.
If only someone would lead a 93 million person overthrow of this alleged system.
I want to know why the Fed is telling the country the current situation with employment/unemployment? Seems to me the Fed should be just doing banking stuff since they are large banks. Who gave them the job to tell us how the country's employment situation is doing? Why does the press even listen to them? Just another mouthpeice of the lying Federal government IMHO!
I want to know why the Fed is telling the country the current situation with employment/unemployment? Seems to me the Fed should be just doing banking stuff since they are large banks. Who gave them the job to tell us how the country's employment situation is doing? Why does the press even listen to them? Just another mouthpeice of the lying Federal government IMHO!
You want to fix this unemplyment problem? It's quite easy actually if government WANTED a solution.Seeing how they don't here's my two cents.
Cut off EBT right this second. Make a public statement that says in order to get you EBT you must perform work at some government agency within your state. Picking up trash, cleaning up parks, highway work, cleaning up after the homeless, street sweepers, wash the vehicles for the city, etc., and so on,
Make these people work for their check and you just might be suprised how fast some people get back to work or leave the country all together.
I would like to see government end EBT and WIC welfare.
I don't think the government should provide any jobs.
We need a good purge.
You fear a purge?
It's like a turd that needs are hard, slimy push.
I love chaos.
You'll know when they're ready for civil war. They'll do that and you'll wish they were still supporting the system with funny money.
I would like to see the end of EBT, "income tax deductions for dependents", and "earned income credits".
I would also like to see the end of USA military deployment all over the world. Let the United KINGDOM do that, if it wants to. The USA has all of the Americas to trade with, and that is more than enough for the USA.
I agree that I'd love to see the EBT program killed off - but I think/fear the opposite will happen, that it will expand greatly.
And I say, bring on the purge. I'll take my chances.
Are 93 million getting paid to sit on their asses? Holy shit ! You solved it!
Totally stupid solution. What % of these people would actually find a job? So there's a job opening for all of them? Please tell me how millions that will be starving will make this a better society and how you won't be affected by this? And why blame these people in the first place? Let's see.......chop chop chop and chop and then pull the rug out.
The exact same of the dumbfucks on the left are the dumbfucks on the right.
Nobody should get money for not working. Make them report for cleanup duty everyday at 7AM to clean up parks and highways and shit. End the welfare state and solve the immigration problem over night.
free lunch only weakens a nation.
Screw having the EBT folks do makeshift work for useless governments.
Since I'm paying the taxes that pay for EBT, a few of these folks should come to my house and take care of some maintenance and other projects so that I can relax and sit on my ass at the end of a hard days work.
And then, in 1980, the USA got REAGANed! So... WARNING!
Labor, wazzat? Doncha know we ended slavery six months ago? Free the workers of the world!
Where's the EBT ETF?
The Communist solution.
Will be rolled out soon.
As planned, young fools.
Problem, reaction, solution.
Have the ZHers put any thought into the double top secret TPP treaty shit that a lot of has been published on Wiki leaks? I'm thinking that this deal will finish the US off as planned. I keep hearing that sucking sound that Ross Perot was talking about in reference to NAFTA.
How is the USA like a radioactive isotope?
Answer: It decays everyday at a fixed rate.
'78 great year, coked out disco dancing at studio 54 till the morning. Selling trash to muppets in the afternoon.
Bring on the black markets! Fuck the US gov't RAW!!!
Let's see...........get a shitty $8hr job. After taxes, what--maybe $250 leftover at most? Then another $20 for gas just to get to the shitpit. Then end up spending your entire day there.
Surely you can come up with another way to make $200 a fucking week. Even if it's not more, it could still be better than 8hrs slinging hash.
It's far worse if you graph the participation rates of men and women separately. The 1978-1990 upslope was mostly women joining the workforce, while the 2000-2015 downslope is mostly men leaving it.
I mean, if women aren't impressed by the fact that you have a job, and they'll have sex with unemployed dirtbags while friend-zoning you, why bother working?
This news should send gold higher, but the markets are closed. So, you can buy gold today as if this news hasn't yet hit. Then watch as prices rise on Monday with the new realization (for many investors) that the FED will not be raising rates in June as they had expected. USD already down on FOREX, yet you can buy gold at yesterday's close.
I'm just glad we've opened the flood gates and are letting in all of the worlds riff raff at the same time...it makes perfect sense.
"Feds admit: ‘Huge surge’ of ‘unscreened’ Muslims flooding US"
and...
"Feds 'admit, under oath, that they have no idea who these people are"
http://www.wnd.com/2015/03/huge-surge-of-unscreened-muslims-flooding-u-s/
Just remember this when you get in the ball fondling line at the Airports.
Yugoslavia was broken into pieces because Muslims were allowed to come and populate to the point where they became the majority. The Muslims refused to put their country first before their religion; the theocracy (what Jefferson actually spoke of concerning "Separation of Church and State") which is the embodiment of Islam. When that happens in the United States, then it will be by intention.
-----------
For all those people who do not stand up for Christians and love to bash Christians you open a Pandora's box; Christians realize that only God saves a man from the offenses against God (Jesus Christ) and that no Christian can convert a man and that the Christian is called to proclaim the good news, nothing more or less; not murder or hurt a person who refuses or disagrees...for God is the judge, not man.
---------
In Islam, they are fooled to think that they are called to convert or to kill (life is not valued); there god offers no forgiveness and is the antithesis of love. Ask a Muslim what assurance of salvation allah offers or ask where it says that Allah loves an individual; they can't because it doesn't exist.
A nice post for Holy week. Thanks.
Thank God; I have been reflecting on this glorious day where man's guilt is ultimately displayed and God's love is ultimately displayed; both on that Roman Cross. God bless you as we rejoice and give thanks to Jesus Christ for the gift and ministry of reconciliation; it is what the world so desperately needs...reconciliation.
For the true God so loved the world that He laid down His life and bore our sins that we may be made righteous in His sight and forgiven. What would allah's people say & do? Kill em'.
With "TRillION" being the new thousand, the difference between .8 and .7 of .1 with a standard deviation from the mean of + - 3%, is not even a reality.
Move on..
The tptb going to get that big war going super quick now!
I predict, when it gets reported, that March 2015 will be the time that the velocity of money ( https://research.stlouisfed.org/fred2/series/M2V ) slips below 1.5.
Social Security's response to the poor liviong on $1,500 a month.
You should have a pension old timer.
I love it!
I see a growing business opportunity.
Human waste disposal.
This must be BULLISH
I've got a good idea, let's import millions of illegal Mexicans & Middle East H1B visa Muslims to do the jobs Americans won't do.
And we wont have to raise wages for a lack in human resources.
Idiot.
Somewhat of topic, I suppose, but did anyone notice that the S&P dropped over 20 points this morning, even though the markets are closed. Should be an interesting Monday AM.
Damn Obama and the democrats are awesome!
What's the Employment Rate? We always here this fake unemployment number, but where is the number of people actually employed tracked and reported?
A comment from the Huffingtonpost about today's job report.
The cold weather downward blips in the jobs figures are actually good for the economy, prosperity, and job growth over the next year, because they will delay the Fed's raising interest rates. This in turn will be stimulative for growth, and thus for job growth. Relax, we're still growing and will be for some time to come.
I'm guessing he's an economist.
This headline unemployment is a fucking joke. I have a very wide circle of friends all of whom have killer work ethic.
None of us are doing as well as we were 10 years ago. One of my best friends has been down for 5.5 months and has never spent this much time doing odd jobs w/o a real job. He is not included in the official stats either.
Thank God for the Affordable Care Act, as fascism is the truly the cure. Otherwise things would be way worse, we'll just ignore the inconvenient fact that every healthcare professional I know hates it.
My only regret is that I should have went all in and long health insurance company stocks right after the ACA passed before we could read it.
Qui Bono???
that's a lot of potential rebels
Who is still counting? Jobs are so last millennium. Who remembers how to count? Numbers are a tool of the patriarchy. Fewer people working, more people participating in freedom! Jerkers of the world, unite!
--there will be no increases in average hourly earnings--
Mission Accomplished!
...that's exactly what the money center (read: predatory finance) bankster boyz (and girl) crave.
..."we are stuff, bloated, engorged, gluttonous and greedy but we've have a real distaste for labor..indeed, they need just a little more malnourishment. Pitting them against each other is so splendidly authoritarian, well done, Mr Market".
Can we have some kind of a huge free shit event when the number reaches 100 million? The thing about squid is they suck you dry to pay for their freeshit army which reelects their "boys" take a cut and run 24/7 propaganda about how good it all is. What could possibly go wrong?
We have 93 million or 43 million extra people, whichever number you care to believe. What are we going to do with them? I know, let's help some insaner countries build nukes. It will be like giving a chimp an AK-47. https://www.youtube.com/watch?v=Jt3aLev041E
So roughly stated and including underemployment (they don't count that do they?) unemployment stands somewhere around 40%. Is that bad?