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Americans Not In The Labor Force Rise To Record 93.8 Million, Participation Rate At 1977 Level
While the Fed is digesting what the X-13 Arima seasonally adjusted payrolls number means for the future of US interest rates, the devastation of the US labor force continues.
In what was an "modestly" unpleasant July payrolls report, yet somewhat better than June's flagrant disappointment, the fact is that the number of Americans not in the labor force rose once again, this time by 144,000 to a record 93,770,000 million, with the result a participation rate of 62.6% which remains at a level more indicative of the September 1977 economy.
End result: with the civilian employment to population ratio flat from last month's 59.3%, one can once again easily discren 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, or - at worst - hike by 25 bps just so it can, like BOJ in 2000 and the ECB in 2011, cut promptly thereafter and/or unleash QE4.
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That which cannot be sustained, won't be, no matter how much everyone cries and whines about it...
interesting times.
93 million, that pretty much expains the direction we are heading
Layoff List: http://www.dailyjobcuts.com
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When the Fed cuts the USD will soar and there will be a global liquidity crunch as capital flees the EM.
93.8 Million is 5.3%?
I think we need to take anther census!
Working less isn't always a bad thing. Many economists predict that one day we will reach an economic singularity in which people will no longer need to work, and resources will be provided to us at no cost by an infinitely efficient market. Maybe this is a sign that we are at the beginning of such a singularity?
LOL!!! classic MDB, comedy gold!!!
Yes, MDB_, All resources will be provided to us..
Through ducts:
https://www.youtube.com/watch?v=pZf4agDIgiQ
The labor force participation rate shows how much liberals care. The more people they can support who are not working, the more that shows they care about them. The dwindling number people left working to support them (at decreasing wage levels in multiple part time jobs), however.... fuck you, back below decks and keep pulling on that oar.
Government dependency is precursor for is become slave and serf. First statist authority is coddle masses and then is pull out whip.
Hell no, no Devo "whip it"...keep that zipped!
Headbanger, what's that clip from?
Oh, and MDB has more greens than reds...another sign of the apocalypse
Agreed! The downvotes show the lack of understanding of subtle farcical humor.
What's scary is that there are undoubtedly people who actually follow these lines of thought.
Oh look its one of the Hitler Youth folks....
I see it the opposite way. Last night they asked Dr. Ben Carson if we need to bring waterboarding back.
no work, no income tax. no waterboarding people who did not have WMD, neo-cons don't "work" for free
one of the Hitler Youth
Close.....
https://www.youtube.com/watch?v=wOtGr1JFCnE
The fuck did I just watch? lol holy shit...
After the "Obama Youth" video watch this:
https://www.youtube.com/watch?v=x3xI2s3erdQ
Maybe you should read the Time Machine - some did not have to work.
Society like in Woodie Allen's movie Sleeper?
Where's the ogasmatron?
O-gasmatron is what happens to Chris Matthews when B. H. Obama enters the room.
Gosh, wouldn't that put the TRUE unemployment number at, dunno, 35% or so?
Nope. 30 out of that 35% doesn't want to work. They're retired or housewives or students. They don't count.
Check out "Shadowstats" online. The TRUE number, U6 the way it used to be figured before Reagan and then Clinton jimmied the formula, is around 23% (or it was the last time I looked at the site). No wonder both Reagan and Clinton did such a great job reducing Unemployment.
So, you think a rate cut will strengthen the FRN?
LMFAO!!! I think you have that backwards. What part of race to the bottom don't you understand?
The world is a slightly different place than it was in 2008.
Yep, it's become the ultimate sollution to push everybody in that bar on the graph for every economic problem there is.
I wonder how Obama will gloat once more when he explains how he made unemployment extinct by being the best president ever on this planet.
Hey, one of the wheels just fell off!!! Naaaah, well okay, we'll revise it back up to four next month.
In September 1977, the economy was booming because of skyrocketing demand for...(William Wallace HOLD, HOLD)...Star Wars figurines.
American workforce is getting as lazy and unproductive as the Central European "Social democratic" workforce, which sees no reason to get out of the generous social security net for the unemployed.
You should see how the south is doing...
A while back I was at city hall for some paperwork and after 1 hour while nothing happened, I was called in front to probalby one of the most demotivated people on this planet. And the way she talked to me, I couldn't help myself to answer her: Gee... If they would just invest a bit of money in a good online app, you'd all be fired and I could do this shit in 5 minutes from my sofa at home.
She just smiled at me and I'm still waiting for that paperwork to get the right stamps but what I'm saying is: IMAGINE IF ALL THE UNPRODUCTIVE MADE UP JOBS WOULD BE GONE TO!
We'd be at 80% unemployment right now!
I had the pleasant surprise of being able to register my children for preschool through a very well designed, efficient website this year instead of heading downtown to wait for someone to look at my id and confirm that all my info was still the same as it was last year. 3 story building with god knows how many employees completely shut down.
A six story building, the corporation I slave for, used to have hundreds of teaming employees.
It now has 1....
In the new economy there can only be one. Only status quo collectives allowed.
RIPS
And there is one, and might I say, only one, presidential candidate who has identified the correct solution to this vexing problem--the mighty, the clairvoyant, the august, the ultimate leader Jeb Bush.
Jeb Bush says "'mericans need to work longer hours to earn more"--http://www.theguardian.com/us-news/2015/jul/09/jeb-bush-says-americans-n...
Bush/Cheney 2016
Obama has done a wonderfull job helping nearly 94 million people in America not have to work , how you ask? By getting the rest of the world to be our bitches and working for what will be wortless pices of paper, enjoy the good times and thanks the rest of the world for been so stupid , now get to work I am going playing golf.
Man hanging over cliff,
"i gotcha"
"I gotcha"
" I gotcha"
"oooppps"
sorry
Well, looks like America is a rather relaxed place to be.
Real un-employment: probably closer to 30%
Pass me the beer, the bong and the bullshit will ya?
It's "Awesome!"
Innit?
When the number of people not working reaches 100 million, I think the BLS will publish a jobles rate of near a low of 2%.
It's "paradoxical!"
It's the new math, better than the old math...
...and the shotguns sings the song!!!!!!!!
------- and we won't get fooled again! Oh, no!
Pete went deaf trying to get the message out...
does the new 2+2 make a bigger 4?
Heading back to Brazil later this month ORI, just wait, Americans will still be arguing over stupid shit even after San Diego turns into Rio or Sao Paulo.
morons.
Nice LoP, the EM exchange rate is going to get reallllly good for the dollah...and then it won't, all of a sudden.
Enjoy your trip....
There is an ARMY of young 1099ers out there who are not counted in the labor force.
wait ....drug dealers and pimps get 1099s ?
One day the bottom will drop out - Bob Marley.
Just think, with a little less work we can be at full employment.
Reminds of that Greek company where 1 guy came in, clocked out all the time cards of his collegues and also left back home :)
I wonder how he's doing right now...
with 150K+ people falling out every month and 200k+ jobs "created" every month, shouldnt the UE rate be negative 2% by now?
I'm guessing your response is facetious, but you do realize that, like roughly 200,000 people become working age every month and are therefore added to the mix...
What about the Baby Boomers - by defintion with that huge segment of the population getting older and retiring - doesn't the percentage of people not in the work force have to rise?
Somewhat, but not at the same level. If you look at a graph of participation, it plummeted in 2008, but that didn't mean boomers all retired. If that's what was happening, it would have been gradual.
Hillery/Kardashian
Then I can join the ever-expanding FSA ... I'll never have to work again and simply relax and watch Kim and Hillery Tweet all day and take selfies with each other.
It is the SCAM of DRUG TESTING. No one wants to be DRUG TESTED.
It is FINE if you drink all night and show up to work sill intoxicated, hung over, that's OK!
Take your Oxycontin, or hillbilly heroin, and crash the fork lift, NO PROBLEM, the fork lift can be fixed!
BUT, smoke a little marijuana after work, or to relieve some pain, and NO, YOU ARE NOT ALLOWED TO WORK HERE!
You are SCUM!
THINK!
The SCOURGE and the SCAM of the DRUG TEST.
Dude.....you feeling OK?
Get that guy a morphine drip......STAT!
I appreciate his angst...alcohol leagal/marjuana illegal is one of the most galling and visible symptoms of what is wrong with us and what we accept...
This career opportunity is in the local rag all the time.
Some sort of employment agency runs this ad, and doesn't bother to mention what the work involves.
The public forced to pay the state when theres no victim present?
Sounds fair...LIke DUI fines that go to ....um the state...not victims.
THey will pass any law to keep the extortion racket ever growing.
Free Dumb!!
RIPS
I see more and more people walking around doing squat. Some still in their pajamas begging for change.
TIFWIW, not seasonally adjusted number is lower - 92 million and change.
Interestingly, the nsa full time number jumped by over a million.
If those working is 62.6 %, how can the unemployment rate not be 37.4%?
Comon core math?
Comon core math?
Jeb Bush is gonna come down your ass!
The McDs counter peeples use the same BLS type of math to calculate my change.
No, lots of people who don't work are not "Unemployed." I, for instance, am self-employed. If I don't get any gigs, I don't count as "Unemployed." My mom never had a job; she stayed home and took care of (way too many) kids. She was never "Unemployed." A guy I know got fired "For Cause" and was ruled ineligible for Unemployment. He didn't count as "Unemployed." He also had another job the next week, but that's beside the point.
In short, you pretty much have to be on Unemployment to count as "Unemployed." It's nonsense, but it's the way they count it now.
only 93 million? wait till robots driving trucks and etc.
Flipping burgers for $15 hr.......oh wait......zero.
agree ... it's called technological unemployment and there is no stopping it.
Disagree...robot genocide.
It is NOT possible for the USA to give food stamps to 93.8 million peeople, while also taking in taxes to support a huge Government - and THEN to ask the remaining workers to pay for everything.
This is not a political statement. It is basic arithmetic. No wonder American families cannot make ends meet these days.
Oh boy another totally contrived number....goldilocks not to hot not to cold just enough to play the rate increase limbo for another month with more laughable credibility. Another 144K out of the work force and no "ADJUSTMENT" for that. Gold was going to get smacked either way. LMAO as someone mentioned before this isn't even a credible B movie script. Its total can kicking BS, only good thing about it is its one more crediblity brick out of their capsizing wall. The number of sheep waking up and leaving the FED's green pasture is now past the trickle phase. Lots of "NEWBS" now buying PM's as the light's are going on. South Korea is now on the Asian PM express and more to come.....TICK TOC the clock is fast approaching mid night.......
Still stacking and prepping
Meh. Nothing another 10 million immigrants won't fix!
http://albainternazionale.blogspot.it/2015/08/caso-mistral-adesso-lasia-...
Mistral, Vietnam, Brasil and India .... France out
All the data manipulation done by the governments around the world cannot suppress the fact that unemployment is rising and the wages of those employed are either stagnant or falling.
The only people whose earninngs are increasing are the crony capitalists, politicians and the bankers who are taking the taxpayers for a ride by syphoning off tax collections and distributing amongst themselves.
http://www.marketoracle.co.uk/Article40231.html
I am not in the labor force. Today I am on the Pennslvanianian Thrain from Pittsburgh tp NYC all paid for by the government. I'm studying Jane Austin and writing a response to a class question about Sense and Sensiility. The ride is beautiful. Businusss class and with a perfect otbook table with WIFI and electrical outlets and it is adorable. I often think of how the government gets money to pay for me to take these trips across country to do the things I love to do. I didn't ask them for i but because I am a student at UCLA and have taken some summer schoool corses this is how they treat me. I have good grades because I like the wok vut when upu think about alll the crujjy things going on it the workd and you think that there is this draahgovernmen tha willl pay you to read and write about novels and have a good time if you use the gifts that god gave you it makes me wonder if somehow life isn't more the way you see lfe than the way it really is. In other eords who am Ito day whow the worldit is?es irtmau have all tesedffos The NWO sure are a b u nch of freaks but tofay they are payin for th eQ99x2 to have a wornderfjlFimd. Horshoe Curve coming up on the right side of the train.
Life is so strange. And, beautiful.
Get the fuck out of my country.
Brilliant Q99, I think ole Chuck got his knickers in a twist because he forgot his sarc detector...
Learn English stain.
I have been a long time advocate of a sarcasm font.
A SARC font....good one in4, I guess it would have a drippy look....
40 Million (2012) work for the government is some capacity...
sooo that's 93 million not working and 40 jacking off and calling it work, add in 50 million students for a total of 180 million out of 320 million population. take off the young and the too old, another 20 million that leaves about 120 million or about 37.5% of the population supporting the rest. Mush Mush, lean forward slaves. Hey "Lean Forward" isn't that one of the Democrats motto's.
Full employment in the USA is a thing of the past, given modern manufacturing techniques and production overcapacity, coupled with the population of the country it’s impossible to achieve despite the rhetoric from our odious and gaseous politicians, who pretend to be all things to all people.
Whining about benefits and welfare is pointless. Different questions need to be asked and answered, in order to answer this dichotomy and to be quite frank, I'm not seeing any of these important questions and philosophical debates asked or answered on Zero Hedge. The debate still takes the form of T-Bone Tina, welfare queens and immigrants.
"Full employment in the USA is a thing of the past, given modern manufacturing techniques and production overcapacity, coupled with the population of the country it’s impossible to achieve despite the rhetoric from our odious and gaseous politicians, who pretend to be all things to all people."
Nonsense, just have FEDGOV hire everyone and have them work for DHS spying on each other.
be a hell of a lot more fun if we all went to work for TSA and went around feeling each other up all day. Whew that was a long hard day, I need a drink.
I know, make us all cops and we can stop everyone we see and confiscate any money they have because it's all been through dirty banks. We will all be billionaires.
Basically you've just said that tools eliminate work.
There's no historical support for that view.
They just modify which work people spend their time doing.
Once women did all the things appliances do. So are women now lazing about the house doing nothing? No the location and content of what they will do simply changed.
The view of one segment of The population that the rest of the population is essentially replacable chattel is going to get them killed.
Their presumption is that the difference between themselves and the rest is adifference in quality.
But quality measurement requires a yardstick. The yardstick implies a certain value system as universal, which simply stated IS NOT UNIVERSAL.
Not everyone would rather be rich than happy. Not everyone prefers professional success over social successs. Not everyone prefers self over family.
The presumption of common values leads to false conclusions about ability.
The bell curve is much flatter than they think, because they discount choice as a discriminator.
Well, the obvious interpretation here is that The Recovery, now roaring through its 7th year of unstoppable Green Shootage, has made so many Americans so rich they can no longer be bothered to "work." They're just sitting back, watching the Mazuma roll in, living off the fabulous returns on their incredible investments that only ever go up in value. Meanwhile, with Inflation at historic lows, there's never been a better time to live on a fixed interest income.
Why is this so hard for ZH'ers to understand?
By the way, I've been on this site way too goddam long to bother with a /sarc tag. If anyone can't tell sarcasm, they're on the wrong website, and we should have the math-problem captchas back to weed out the foolish.
Not to mention the fact that most of the newly added jobs in the 100000s come in at shit retail and other low level positions that don't pay a living wage.
so this begs the question: why go to work when you can sit at home at collect a check signed by obama, and enjoy a stability that no one out there has at 20hrs/week $8/hr.
“Daddy, what do taxes pay for?”
“Oh, why, everything! Policemen, trees, sunshine! And let’s not forget the folks who just don’t feel like working, God bless ‘em!”
Obama is being successful at fundamentally transforming the country into a shit hole.
That trend will continue because they are importing people not documented as part of the work force to do the work, while simultaneously paying them public benefits at the expense of the documented.
Leaving the workforce is the only escape from the expropriation machine. Therefore progressively more will do so.
This will accelerate as they discover they too can work underground.
And you need to understand governments exist on the illusion of control, and cannot survive widespread unrest.
This is all obvious.
Since TPTB are doing it, they believe they have means to create a regime more to their liking. Likely they'll use another of their captured governments to add external pressure.
You want a real scare, look at the workforce participation rate for MEN:
https://research.stlouisfed.org/fred2/series/LNS11300001
Despite decades of "girls can do anything" propaganda, men are still:
99% of coal miners
99% of garbage collectors
100% of deep sea fishermen
100% of electrical power line installers
100% of oil drillers
99% of auto repair mechanics
99% of roofers
100% of HVAC mechanics
98% of metal fabricators
95.5% of firefighters
92% of construction workers
88% of patrol officers
Source: http://stakedintheheart.com/2012/08/07/do-any-women-work-at-the-dirty-di...
I have been a coal miner ie. dragline maintenance, metal fabricator, worked in oil drilling, pipelining, NG conversion development and have employed people in related fields. I have done plenty of other things too and tend not to have to deal with dirty stuff too often anymore (in my late 30's) although I rather miss it and may go back. I have no debt and never borrowed a dime from my parents or ever asked any man or the government to support me for one minute of my existance.... just sayin.
To the point you were trying to make though, I did run across very few others.
93.8 MILLION people not in the workforce:
1. Are we on our way to the very edge of the demographic cliff? The baby boomers are retiring and their children are too busy binge drinking, drugging and looking cool well into their late thirtys. Solution . . . import a compliant population from socialist based "democracies".
2. Why would the establishment be ok with this, don't they NEED compliant docile workers? What gives? Perhaps, they don't need you, the established order is culling us slowly because they already have a parallel civilization.
https://www.youtube.com/watch?v=cBwWIdqhU0o
https://www.youtube.co/watch?v=9COrANDQvWg
3. What will you do to protect yourself and those you love?
93.8 MILLION people not in the workforce:
1. Are we on our way to the very edge of the demographic cliff? The baby boomers are retiring and their children are too busy binge drinking, drugging and looking cool well into their late thirtys. Solution . . . import a compliant population from socialist based "democracies".
2. Why would the establishment be ok with this, don't they NEED compliant docile workers? What gives? Perhaps, they don't need you, the established order is culling us slowly because they already have a parallel civilization.
https://www.youtube.com/watch?v=cBwWIdqhU0o
https://www.youtube.co/watch?v=9COrANDQvWg
3. What will you do to protect yourself and those you love?
What will you do to protect yourself and those you love? Duhh, vote Trump! He's our saviour. "Go FED go!"
Well done Mr.Obama...you have achieved what another US President was able to accomplish..our esteemed 39th President...Jimmy Carter...some progress!