The Complete Employment Perspective in Pictures

Townhall.com ^ | August 2, 2014 | Mike Shedlock

[Kaslin]

Here's a series of charts from reader Tim Wallace on various aspects of employment, labor force, and population. The charts use seasonally unadjusted data, July of 2014 compared to July in prior years.

click on any chart for sharper image

Age 16 and Over



Age 16 and Over Full-Time Employment Percentage



Age 25-54



Age 25-54 Full-Time Employment Percentage



Age 55 and Over



Age 55 and Over Full-Time Employment Percentage



Mish Notes

Because of the aging workforce, the first chart in each series has a slight negative bias. For example: Note a relatively small decline in population in age group 25-54 from 125,715,000 to 124,500,000. That decline accounts for 1,215,000 of the drop in full-time employment from 99,912,000 to 95,098,000 (a drop of 4,814,000).

The normalized drop in full-time employment is thus 4,814,000 - 1,215,000 or 3,599,000 which is still a pretty damning statistic.

Here's another way of looking at things: Only 25% of the decline in full-time employment in the 25-54 age group can be attributed to the aging work force. The rest is overall economic weakness.

The second, fourth, and sixth charts showing percentage changes provide an overall accurate view.

[Hotlanta Mike]

‘The Coming Democratic Midterm Collapse’

History tells us the “six-year itch” is a very real thing, and there’s little Obama’s Democrats can do to stave off a big loss this November.

See more at: http://www.thedailybeast.com/articles/2014/08/02/the-coming-democratic-mid-term-collapse.html#sthash.MDhTjmF6.dpuf

[MeshugeMikey]

[txrefugee]

This is one set of charts you’ll never see on CNBC or Bloomberg’s business channels. They hide this horrible news, as though families don’t know what’s going on when so many members are still unemployed or underemployed.

[Age of Reason]

The rest is overall economic weakness.

How about the rest is people replaced by technology?

And if you think your job is immune, it's not.

Even if your job won't be directly replaced by technology for another twenty or thirty years, the jobs and businesses of your customers or clients will be.

Then with no customers or clients, what good is your career?

[nascarnation]

This is just an off-hand opinion.

The standard of living provided by entitlements (plus in some cases cash from the underground economy, legal and illegal) is enough to keep a lot of folks fat, dumb, and watching Jerry Springer and the Kardashians.

[trisham]

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