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Participation Rate Crashes To October 1977 Level: Americans Not In The Labor Force Soar By 579,000 To Record 94.6 Million
While the September jobs number was an absolute disaster, here is the real punchline: in September, the people not in the labor force soared by a whopping 579,000 to a record 94.6 million, up from the previous record 94.0, even as number of people employed - according to the household survey used to calculate the "5.1%" unemployment rate - tumbled by 236,000 to 148.8 million.
And as a result of this latest surge in people who aren't working, nor want to work, the participation rate crashed yet again, and sliding from 62.6% to 62.4%, it was the lowest since October 1977.
Finally, if anyone is still confused where there is no job growth in the US, here is the answer: the amount of slack in the labor force is simply breathtaking.
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5 basis points.
Another month another record
Layoff List: http://www.dailyjobcuts.com
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this is BS....I heard Janet Yellen say we were near "full employment" and she does not lie!!
I am at the point where I might consider doing this. Anyone know how to score some primo government cheese?
Either that or work longer for less that goes not as far as it used to.
Not really a happy thought.
pods
Extended vacations for everybody.
Extended trouble in tinsle town.
Hope & Change !
looks like the "jobless recovery" is right on track
The labor participation rate drops and the "Precious Metals Participation Rate" jumps, LOL.
Live Gold: http://www.pmbull.com/gold-price/
Live Silver: http://www.pmbull.com/silver-price/
What happens when the "participation rate" in precious metals increases to 100% and the "participation rate" in fiat drops to zero?
We unemployed some folks.
Plunging participation rate should push the BLS unemployment rate way down, maybe even to 4%.
So that's bullish, right?
How about a government mandated "climate change" holiday....say a few months off with guaranteed government cheese? A EBT card in the mail for everyone. No reason to panic. Time to celebrate! Right?
OH! But the Popes' economic plan will "save" us.
Its not Communism, Nazism, Socialism, or Capitalism, but DISTRIBUTISM!
In a sentence, it is share the wealth if your in with the in crowd and semi-slave status for the rest.
Its back to Princeis , Medieval Guilds and Serfs.(Dont forget Bishoprics)
He wasn't telling congress about Dorothy Day to be entertaining.
You've been warned when you didn't even know you needed to be.
because $imf
The simple fact is that in a post WW2 world we just don't need everyone working. We keep creating jobs (that add nothing to society) simply so that people will be employed. For example. A new mother returns to work earning $500/week because she needs to earn the money to pay for her new child's $490/week daycare.
For the sake of $520/year she could simply stay home and look after her child herself. But this is not what the social engineers want.
When we looked at the numbers we came to the same conclusion. It wasn't that close, but the trade off was nowhere near the cost of someone else raising our kids.
More and more people are coming to that conclusion too. They usually do that after it is too late and they are both working and in debt up to their eyeballs though.
It is not that tough to do it though.
pods
"They usually do that after it is too late and they are both working and in debt up to their eyeballs though"
This is the core essence of their plan.
Same conclusion here, except I'm not up to my eyeballs in debt.
"Mom" stays home with the kids, takes care of the domestics, and "Dad" does his gig.
It makes absolutely no sense at all for Mom to go to work just to have all of the earnings spent on someone else raising my kids.
No easy option to tax stay at home's.
Most people don’t like to live within their means.
Instead of adding more value to the planet, they finance.
Check with the pschyciastriast, I smelled him the other week and he seemed to still have some.
I guess we do not need to be concerned with an overheated economy.
Perhaps overheated inflation, if true inflation was reported.
"I heard Janet Yellen say we were near "full employment" and she does not lie!!"
She was referring to Jobs at the Federal Reserve. Every Office is full at all of the Fed's offices :)
Shedding cancer cells.
10
Forget all the other BLS BS, this is the only chart that matters.
Welcome back to "That 70's Show."
More like Welcome to the 1930's Show
The faceplanted EBT "employment" market.
The lies... Exposed!
Again!!!!!
"It's not a lie if you believe it."
George Costanza
No shit
They're all retired spending time on the sunny Caribbean beaches, popping Viagra, drinking Corona, and living the life off the wealth affect from their 401k...., at least that's what they want us to believe.
Isn't this the plan? Make everyone depedent on the government.
Bullish... right? Green shoots and all that?
My God, haven't all of us here known that this current fiasco was the end result of the stupidity that began in late 2008? Wasn't it completely obvious even back then that the 'plan' (which was just political expediency) would never work in the long run? Given all of that, I think the only conclusion we can come to is that TPTB planned this end result all along (or really are too myopic and stupid to care).
Yes, yes, and planned, after all, ya don't make that kind of money being dumb
I am convinced now that there are the puppets and there are the puppet-masters in the political arena. The puppets are the myopic yes-men that go along with what the masters bid them.
Yep. The NWO, Illuminati, Bilderbergs, whatever you want to call them, are real.
To assume they do not exist demands extreme speculation. The only Conspiracy Theorists are the ones claiming that they're but figments of deluded imaginations.
You know of a better blame-free reset button?
All of us here. Most I think. The rest seem to be cluing in but many may not until they are being rounded up.
Welcome to the Great Socialist Perpetual Vacation Machine where you can take ballet lessons, paint, author a historical novel, study LGBTWHATEVER rights, enjoy travel on public buses, visit exotic place like Compton and taste the finer foods in life, like crispy burnt alfalfa sprouts slathered with trig-glyceride flavored Twinkies while watching the rainbow sunset through the government provided geo-engineering chemical haze.
Why can't this shit just crash already? Get it over with.
There is always something left to steal
That sir, is eloquent.
Jobs must be re-hypothicated and soon
and yet,another day down the road,said the can....
Shrinking labour force equals lower unemployment rates even without any jobs being created. Ergo, bullish. Or was good news bearish again? Damn. Can't keep track anymore.
Except that boom bust cycles force people wo were approaching retirement 15 years ago to stay in the work force.
Take 5 of any other species on Earth and they could hardly do worse for this economy than the Fed. Just the law of averages alone says they might even do better.
It's just as well rats, snakes and cockroaches don't understand human language. They might find the comparison to central bankers insulting.
The participation rate was actually much lower in the 1950's and 1960's, before white women joined the labour force in droves. The decline you see now is the white men being pushed out.
The people who make all the real decisions (almost all of whom are still men, by the way) have figured out it's a much safer bet to hire Girl Fridays than provide on-the-job training for people who might one day become their competition. Women are conscientious, but never think of anything new. Only men start revolutions.
Who was it said that had women really run the world all this time, womankind would still be living in caves, but the caves would be spotless?
+1
Better to be surrounded by mindless 'yes people', than to have people around who can actually think critically.
Critically thinking?
Have you seen this one?
'Please Stop, Bear!': Woman Pleads with Bear to Leave Her Kayak Alonehttp://insider.foxnews.com/2015/10/01/viral-video-please-stop-bear-alask...
It was trying to save her gold from a boating accident.
Shoulda been packlng heat. This isn't friggin Didneyland, where bears sing and dance. Nature will kill you.
I watched this in hopes that the bear mauled her at the end. That bear showed a great deal of restraint as that voice would have set me off!
I watched this in hopes that the bear mauled her at the end. That bear showed a great deal of restraint as that voice would have set me off!
I already have a wife to nag me at home. why would i want all women at the office? I go to the office to get away from the nagging.
If you're top brass, female staff have a strong financial incentive not to nag you. And they're a lot easier to replace than wives.
It's not as great a deal if you're the token (poor white) male left doing all the actual work while the girls take each other to birthday lunches, but who cares about you anyway? You're only being kept around at all till a way is found to outsource your job.
yeah but the unemployment rate is 5.1 %. Its just a miracle I tell ya!!
"Participation Rate Crashes To October 1977 Level"
So this is very good news, Obozo will be able to lower the unemployment rate to what 4.9%?
Go Obozo!
A job and no debt= the new rich
sorta like "Thin" = "The new good looking".
She can have a face like toad, but she's thin. She's in the "Looker" category.
The Fed thinks that the world just exists in their little vacuum, that the BLS' methodology for calculating unemployment is the end-all-be-all indicator of economic health and that due to basic microeconomics it should translate to higher wages because their little "unemployment rate" is so low. It never ceases to amaze how a group of 12 people on a committee think they can understand the complexities and massive moving parts of an economy containing hundreds of millions of people, that has an effect on billions of people when globalization is taken into effect.
These metrics they rely on have been outdated for years, they simply do not tell the full story. If you are going to act like a wise omnipotent central banker, then at the very least you should make an effort to collect the right type of data. This is so stupid, my 9-year-old nephew is smarter than these guys. He comes up to me the other day and asked me what the Fed was, when I explained to him what it does in simplified terms, he says "but how would they not make big mistakes, America is huge!"
NO KIDDING BUDDY!
Dumb by design
"intend obsolescence, built into the system"
The Metric UE rate is "not" outdated - it is designed for objective - which is NOT to show real unemployment - why? because that is a negative for the politician and the Fed
metrics shows the Humphrey - Hawkins Mandate for inflation and UE objectives are being met by the Fed - so they manipulate both
there are no mistakes or stupidity
no wonder the gold price went vertical after a most depressing day.
This is really the most important number in this report....it shows the demise of the USA....if you do not have a job....you are a sponge on society....and that is not very good.....you just suck all the energy out of the economy and give nothing back
Expect...revolution. Obamarsehole at the guillotine?
It's because the husband has a really good job so the wife can stay home and watch the kids /sarc
Gotta love our free trade agreements. Cannot wait to see how corporations that begged to be able to move money and jobs out of the country will survive with no American consumption. Yes there are other counties, but they are not as vain as ours to demand new cars every 2 years.
Their cultures will change once they get a big dose of first world economy living. Look what it did to the traditional Japanese culture. It's gone. China is well on it's way too. People are the same all over; the more they get, the more they want.
1977, hell yea!
Smokey and the Bandit on the Silver Screens…
Ozzy was…
Ozzy Osbourne - Stayin' Alive
https://www.youtube.com/watch?v=dXxo7AP483M
And a lot of the US ciizens who are employed don't make enough to pay federal income tax and yet still must be partially supported by the taxpayer for health, housing, schooling, and food. Not to mention the added social costs of caring for the ever-increasing number of illegals.
Wait until the hospitals are overwhelmed with Baby Boomer loaded-up with cancerous tumor. They’ll be asking for comps… called “Hardship Cases”.
When the value of a job is less than the value of not working this is an expected result.
This is what happens when you put a nigger in the White House, and have a bunch of cuckolds in the so-called opposition party who do nothing to stop him.
The truth is he is a Marxist con man and the federal government has been taken over by globalists. These people are now in the middle of every decision which now leads to the further destruction of America. Make no mistake this is not your daddy's America any longer.
No worries; Emperor Goebbels is tackling transgender issues, but just as soon as he "fixes" that, he's gonna turn his full time attention to getting you millenials a full time "part time" job at higher than minimum wage so you can sign up for health care. "God, your future looks bright!"
www.traderzoo.mobi
Now that the FED has a new mandate, the global macro economic picture, shouldn't we start including the global employment rate in this as well?
Seeing as how the majority of the 7 billion people on the planet are not collecting UI the FED could practically break its arm patting itself on the back for a job well done.
I would have to imagine that globally the unemployment rate as calculted by them would be somewhere in the range of 2.5% or less.
Free crack pipes all around!
the problem in the USA is too many people with no skin in the game
Listening to Jason Furman the White House fag.
He makes it sound like it aint THAT bad.
Numbers are still positive he says.
When are people going to storm the WH[FEDERAL RESERVE] with pitch forks already!??!?!?!!?
Countries by population
1 China 1,372,400,000
2 India 1,277,970,000
3 United States 321,941,000
4 Indonesia 256,976,000
......
11 Mexico 125,890,000
12 Philippines 102,137,700
13 Ethiopia 99,603,000
14 US long term unemployed 94,600,000
For the headline "people" = over 16 yrs of age, actively pursuing work, not institutionalized, those with a job.
YAWN. When will QE 4 starts or WORLD WAR 3 begins ?? You dont need to be Nobel prize economist to see the current sutiation so it is in a way boring.
This is exactly what happens when you have a president that uses his "laser like focus" to bolster the economy. Sickening.
the corporate fascists are encouraging "lifelong learning" in my country. lifelong learning to turn us all into economic digits slaving for the crumbs thrown on the floor by the fascist pigs. welcome to singapore.
All the lying socialist data .... for 100 years .... and some socialist trolls .... live and die .... by the up and down vote .... as if they believe it's a proper poll .... live free from the shackles of socialist group think ?
Obama administration internal memo probably states; "Mission Accomplished"
Those who are awake unfortunately are too few. Those on the government tit are told to shut up or no mother's milk.
Why isn't Hillary donnning orange? Any of you mooks would have your dance card full in cell block C by now.
DG - out
Just legalize all drugs and prostitution and you got yourself new legal employment. By legalizing I mean that the state can get huge powers it lost when it criminalized drugs as can be seen with alcohol prohibition. Legal heroin in a no profit clinic where only heroin addicts can register and even get a year long membership if they rat out their dealer. 50$ a pop after that once a week, dosege determined by the nurse, chill in a bed with unicorn pictures around or whatever. Legalize E for parties where one has to be taken in front of a nurse, LSD for festivals and maybe heroin type clinics, etc. Provide some education with obtaining a license that has to be seen each year. Use some profits to combat the problems of these drugs.
At current $100b of illegal drug trade happens in US each year. To translate that into sallaries, it comes to 1-2m yearly sallaries.
At current estimate $14b are spent on prositution in US each year. Legalizing again provides the power to the .gov (as much as some don't like this it works great in Netherlands and Austria) to order health checks for licensing. This could also boost real estate depending on the regulation (in Netherlands this creates a whole bunch of rental rooms for girls at ~200e per shift). And again we reach a number of ~150k jobs.
Young people aren't entering the work force because there are no jobs for them (unless you're an illegal alien); older people are remaining in the workforce because their retirment plans went bust; and people in between, who are in their prime earning years, are losing their jobs - or just not advancing - because the economy is shit.
Most Americans are not heavily invested in equities and therefore have not seen an increase in wealth as a result QE/ZIRP bull market; and increased competition in the labor market has driven down wages. People who do have jobs are priced out of the housing market by much bigger fish, so even those who have managed to find some success are unable to build home equity. And this is only the beginning of a long list of problems.
As much as I would like to believe electing the right people to office could eventually turn this around, it seems there has been a sea-change in our society and idiocracy reigns; and will continue to do so for the foreseeable future.
So, there are 579,000 more people NOT in the labor force for a total of over 94 million and the unemployment rate is at 5.1%. At this rate we can put everyone in the "NOT PARTICIPATING IN THE LABOR FORCE" category and achieve 0% unemployment.
It's really no wonder why roads and malls are filled with people middle of the day; high percentage are simply unemployed.
My favorite is when you mention this stat people say that it is all seniors and kids bringing down the Labor participation
A lot of people on the welfare programs are quite active and productive; they use the freebie money as a "floor" income while they work off the books or engage in any number of criminal activities. Do they pay income taxes? Er, no, but they do pay sales taxes and property taxes when they buy stuff.
It is getting WAY to expensive to work now days, they take state\fed\ssi\sdi\taxes out, child care services, need more food for expending to much energy. Company polices have you on lock down.
In California, we pay a lumber fee, a paint fee, a electronic disposal fee, soon a carbon fee...car insurance by the mile (coming) a 6 pak of beer at 10$, tol roads on freeways, I could go on..yet i do not see the fees slowing down...maybe because of people like me not working and paying in taxes, they take it from somewhere/someone else pocket, where will the madness END???
Gas in my car, need more over priced insurance for my car, my home, my kids, my wife, nut-jobs in traffic, lunch now cost 10$+ if you go out, coffee 3$ a cup, tax here, tax this, tax that, a fee here and there HELL....it is cheaper to stay at home.
This model has priced it self out of existence, i will hang in the basement for a bit and see if anything actually changes in the working mans favor...(yeah right ;^)
If not I will go to the land live low and cheap and get new self supporting skills. good luck to all of the rest of the working stiffs.
Soon, this model will leave pension holders and 401k/IRA broke...then that will be the straw that breaks the Camels back...