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Americans Not In The Labor Force Soar By 640,000 To Record 93.6 Million; Participation Rate Drops To 1977 Levels
The devastation of the US labor force continues.
In what was an "unambiguously" unpleasant June jobs payrolls report, with both April and May jobs revised lower, the fact that the number of Americans not in the labor force soared once again, this time by a whopping 640,000 or the most since April 2014 to a record 93.6 million, with the result being a participation rate of 62.6 or where itt was in September 1977, will merely catalyze even more upside to the so called "market" which continues to reflect nothing but central bank liquidity, and thus - the accelerating deterioration of the broader economy.
End result: with the civilian employment to population ratio dropping from last month to 59.3%, one can easily on the chart below why there will be no broad wage growth any time soon, which will merely allow the Fed to engage in its failed policies for a long, long time.
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Karl Marx was a dumb dude and to fixated on how rich people benefit. That's why he was not a serious economist. Just the act of giving birth is a conpiracy by rich people to capture more profit. The reason why women started to enter the workforce is because of the government spending a lot of money. Many government programs were piling up during the 60s and manifested in the 70's as price hikes and low employment. Capitalism actually works the other way around, when people produce, save and invest their standard of the living is increased. Their productivity doesn't simply give them paycheck, their productivity lowers the cost of living, which increases real wages. The 1970's 1 wage earner household was the result of a productive jobs and savings, which increased real wages. Government spending and inflationary policies of the Fed reversed all that, that's why the gold standard was abolished and why today we have a consumer economy that is dependent on productivity of foreigners to supply Americans with cheap goods which they buy on credit.
Contrary to Keynesian theory, it's actually thrift, and savings that created best era in US history. With real money, non-monopoly money, capitalism does improve living standards. The rich get richer by producing more, the poor, and working class get better by the rich producing more. Everybody improves, because productivity increases supply, and goods are discounted against money, when money is valued more than goods.
Except if you are a politician or a bankster, they have more money today than they know what to do with.
Sad days for Amerika.
Wait, wait! This can't be true, 'cause our fearless leader keeps talking about the RECOVERY!! We're all RECOVERED!!
This must just be part of some vast right-wing conspiracy, because everyone knows Barry Obozo doesn't lie about stuff like the recovery. I mean, he may lie about other stuff, but NOT the recovery, EVERYBODY knows that.
They are all fucking liars! Wouldn't it make sense for the republicans to shout about these lies on a daily basis? They are all complicit in this game. We are all fucked and D's & R's will finally walk arm in arm into combat or FEMA Camps. United in Shit!
Don't vote for Trump. We need experience to guide us out of this mess. After all, look where experience got us. LOL.
One must first realize there is no way out of this mess.
Maybe I'm wrong, but I believe the definition of "employed" is very different today than it was in 1977. For example, today employed is a person who makes $20 or more per month, and part time employment counts as full time employment. A person working more than one part time jobs would show more than once. If that is right, the chart is biased to the upside in the current years.
Time for the POTUS to get back on Twitter to answer your questions about today's payroll report. #winning!
Only stupid people are left working as slaves for everyone else. That's fine with me. Be stupid or quit like everyone else and get Yellen at the FED to print ya up a bundle. What they've done for Goldman Sachs they can do for you.
Once the middle-class is destroyed, the only people left to manipulate and cheat are themselves....the snake is eating it's own tail. However, there is much left to steal and the carnage is coming, much like Greece, all over the world. Apart from divine intervention...well use your imagination and add a multiplier affect.
Here is the reality ... http://www.inquisitr.com/2218523/david-stockman-says-unemployment-is-rea...
This is the new normal for the US.
How Presidents and Congress squandered a country.
In a fallen world it is a nearly universal axiom that the largest turds float to the top of the financial and political cesspools.
This turdical cycle has repeated itself over and over and over again and again and again. That is why the denizens of Turdistan (Washington, DC & NYC) don't want the population to be taught the true history of humankind. It wouldn't take the people long to figure out where that terrible stench that is covering America is coming from, if the people just knew the truth.
Simple demographics, folks. In 1977, baby boomers were 30. Now they are 68. The number is only going to go up, until baby boomers leave the population pool.
Um....RATE.
Um, and your point is? The participation rate will drop as the boomers retire, because they're both part of the population and the labor force (so long as not institutionalized).
Speaking of rates. The retiree explanation is the only one that squares with a .3 drop in the U6. If those 600k were dropping out due to discouragement, the U6 would have risen.
Time to fire up some immigration!
“And the great owners, who must lose their land in an upheaval, the great owners with access to history, with eyes to read history and to know the great fact: when property accumulates in too few hands it is taken away. And that companion fact: when a majority of the people are hungry and cold they will take by force what they need. And the little screaming fact that sounds through all history: repression works only to strengthen and knit the repressed. The great owners ignored the three cries of history. The land fell into fewer hands, the number of the dispossessed increased, and every effort of the great owners was directed at repression. The money was spent for arms, for gas to protect the great holdings, and spies were sent to catch the murmuring of revolt so that it might be stamped out. The changing economy was ignored, plans for the change ignored; and only means to destroy revolt were considered, while the causes of revolt went on.”
John Steinbeck
The Grapes of Wrath
The new Ovomit/Repugnican trade pacts will add another 2 to 3 million Americans to the dispossessed list as they import another few million foreign workers to add to the most exploited class and sow more seeds of violent revolt and revolution among the native-born Americans.
Watch for more (planned) maniacal shootings and protests that the Elite will attempt to use as pretext to confiscate guns and ammo from an angry population before the critical mass of rage and disgust finally impel the 100 million+ dispossessed to rise-up and overthrow the Babylonian overlords that have robbed and confiscated their country from them with their financial schemes, scams, and repressive laws.
Ovomit's Cloward-Piven social/cultural/financial mechinations are sowing the apogeanical seeds of national disintegration and ultimately,....revolution.......And it's about time. Why do humans have to endure so much abuse before they finally rise-up and put a stop to it?
The FED debt-money is almost worthless....almost gone. When the federal crumbs will no longer pay the rent or put food on the table, the urban plantations will explode with violence and savagery. Ovomit and the Val-Jar muscum fellow traveler who directs his putative presidency will celebrate and watch the success of their evil work from a bunker in Culpeper, Virginia.
Our enemies can just stand afar off and watch us destroy ourselves in a frenzy of attempted survival.
Keep your powder dry folks. It aint gonna end without bloodshed.
They are coming for the guns, even as we speak. It's a pincer move. Direct in Congress and around the flank via subjecting US citizens to international law. A day is coming where we will all be forced to decide to become slaves or killers.
The bloodshed will be the Federal Govt vs WE THE PEOPLE. 2nd American Civil War...only this time Liberty and Freedom will lose.
The USSA will be worse than North Korea when all is said and done
What me worry... I have Obadcare and food vouchers and public aisstance...thank you middle class for a free ride...
Why work when you can rampage through Walmart, destroying merchandise because you don’t even need the products from the shelves; you’re EBT covered? And the media describes the violence by your gang of criminal blacks as simply a “teen” rampage?
IOW, what chance does America have when the media is deliberately urging black on white crime, targeting the white culture, including describing the Ferguson event as where “a white police officer killed an unarmed black teenager?”
The Observer reports and shows in detail how every newspapers and TV news outlet that covered the Macon County, Georgia, event omitted the vital description of the rampagers as blacks. They all were described as "teens." The "teen"s even dragged a disabled shopper from his motorized cart. With lying coverage like this, the white population can expect even more destruction of its way of life in America.
Criminal Black Mob Rampages through Georgia Walmart as Controlled Media Pretends They are Just “Teens” | The New Observer
http://newobserveronline.com/criminal-black-mob-rampages-through-georgia-walmart-as-controlled-media-pr
I'm beginning to believe that if you trade the 200 EMA (always assume downside breaks are false) than you will make lots of ones and zeroes, the catch is when do you convert those digits into real money? Human nature (greed) says never and one of these times you'll be buried so bad that you owe the brokerage money.
Or, we are in a legitimate recovery.
The moral is that news cycles last minutes, we get ten minutes of down from a horrendous jobs report, compared to three days of triple digit gains for nothing. The plunge protection team protects the 200 EMA very aggressively, and even when you think they finally lost the battle they turn a downside breakout to a false breakout. Sickening.
What are these 93.6 Million people doing all day?
reproducing making more democrats
+1 for the smile that I needed today.
Sarah won’t close Bristol’s legs….
Most are under 16 and over 65. This record number is a subset of the entire US population
Nigganomics at work! Which is actually somewhat of an oxymoron except when you consider that we have a moron playing president. Then maybe it makes sense in a halfbreed kenyan mooslim fudgepacking socialist kind of way=)
He was so happy about the SCOTUS ruling... he can now let everyone know what we already knew... Mooschelle is really a man, man!
TPA is good for another 50 million at least.
" Recovery", bitchez.
I was looking for the “apple” among the “oranges” In all the data points which get released. PPI, CPI, PCI, etc.
The thing that I noticed was that there weren’t any real “oranges”, even though they were presented as “oranges”.
clementine
kumquat
mandarin
minneola
oranges: navel oranges, Valencia oranges and blood oranges
tangelo
grapefruit
satsuma
tangerines
uglis and some others I have never heard of.
The end result is that not only can you not compare “apples” to “oranges”; you can’t compare “oranges” to “oranges”!
All meaningful “points-of-data” are manipulated as a process, not an event, so that over time; and just in time, you have a comparison of a weak period against an even weaker period which of course gives a gain. It works in reverse also of course.
The bottom line is that whatever direction TPTB want or need the data to reveal over time, will become the talking point trend.
Rumor and innuendo are the meat Wall Street uses to judge investment grade stocks and so it is the life blood of the economy.
Gold, Silver, LIBOR, Interest, etc are all manipulated data points, and no one went to jail.
People have gone to jail for playing the game too well, but not for breaking the rules.
This is why I believe the Fed will raise interest rates no matter what the “apples” say, but when you compare “oranges” to “kumquats” you always get the correct answer.
But, but but... MW states that wages are going up:
http://www.marketwatch.com/story/why-wages-are-going-up-more-than-you-th...
This guy really fails at the cheerleading game. Compares the easily manipulated and probably altered and not yet corrected data from the last 6 months to state we're all making more money compared to the past 10 years. What a fucking tool.
Its a Global Economy but they forgot to tell the American Worker.
Guess it's not just Greece with a bunch of lazy do-nothings clamped onto the public tit.
Wouldn't be great if just 1 reporter or anchor on one of the main channels brought this up just 1 time.
Sad to watch the country be taken down with such precision and glib attitudes by the entire media complex and 99% of our elected leaders.
TRUMP FOR PRESIDENT!
This chart is incorrect.
The Labor Force Participation Rate is 58%, which is what it was in 1958, when most women did not work. The Feds started adjusting the Total Workforce numbers down somewhere in 2008, despite the Millennials(a group larger than the baby boomers in the US Government own words) joining the workforce and a 6% growth in the total US population from 301m to 321m.
How much of this, however, reflects the retirement of the Baby Boom generation? The largest generation in American history, and the wealthiest by average, started hitting 65 in 2010. This will bring in a huge boost in non-working adults (and payouts from Social Security and retirement accounts) lasting for the next 20 years.
I wonder why we keep hearing about people in their 60's still working or the "Baby Boomers" returning to the workforce. The job creation is all about part time jobs and not full time jobs. If you are looking for a silver lining search out a victorian home. If you are looking at reality you should be concerned.
first post......sure I'll get blasted for asking this.....love reading the comments more than the articles, but sometims it is hard to tell who is responding to who.
So what am I missing?