Posted on 10/02/2015 5:55:32 PM PDT by Nachum
In a note seeking to "explain" why the US labor participation rate just crashed to a nearly 40 year low earlier today as another half a million Americans decided to exit the labor force bringing the total to 94.6 million people...
... this is what the Atlanta Fed has to say about the most dramatic aberration to the US labor force in history: "Generally speaking, people in the 25–54 age group are the most likely to participate in the labor market. These so-called prime-age individuals are less likely to be making retirement decisions than older individuals and less likely to be enrolled in schooling or training than younger individuals."
This is actually spot on; it is also the only thing the Atlanta Fed does get right in its entire taxpayer-funded "analysis."
However, as the chart below shows, when it comes to participation rates within the age cohort, while the 25-54 group should be stable and/or rising to indicate economic strength while the 55-69 participation rate dropping due to so-called accelerated retirement of baby booners, we see precisely the opposite. The Fed, to its credit, admits this: "participation among the prime-age group declined considerably between 2008 and 2013."
And this is where the wheels fall off the Atlanta Fed narative. Because the regional Fed's very next sentence shows why the world is doomed when you task economists to centrally-plan it:
The decrease in labo
(Excerpt) Read more at zerohedge.com ...
They just want to bang on the drum all day.
Na, that’s just Joethedrummer.
Rough math:
350 M Americans
-20% outside the workforce=
280 M (should be) in the workforce
95 M are NOT = 34%
“don’t want a job” numbers would change if our “safety net” didn’t look so much like a hammock!
how do you spell
“WerrK!”
to make it sound like Maynard G. Crebs said it?
If they don’t work, or have “quit trying to find a job” or whatever the BS media line is, it’s because they are being subsidized and don’t HAVE to work, i.e. you and I are supporting them. The absolutely corrupt welfare and disability industry is something the media boobs will never implicate.
The American people don’t want the truth told about such scams because many would like to participate themselves if they could.
Maybe not all of them but I bet quite a few are happy to live on food stamps, section 8, welfare and Medicaid.
Yep, most make more being on the government tweet that they could working. Its how liberals buy votes. A massive increase in VA disability payments, some of which are deserved but most of which are not in my opinion, along with practically life long unem.oyability benefits, and Social Security Disability, which is much easier to get than it use to be, and the Dems have them hook and can threaten that conservatives want to take away your government cheese during every election and our undereducated and uninformed citizens buy it every time. This citizens of this country have become greedy and lazy. The day will come when the teet really drys up and the government checks bounce. Perhaps they will wake up then, but it will be too late.
Why hire an American when you can get cheap coolies from India and Mexico?
It’s the democrats plan, not just 0 ‘ s. About 50 years in the making.
Absolutely true. I can’t tell you how many people I know who will game the system every which way they can to avoid working. They will hide income so that they can keep collecting unemployment checks. It’s human nature to be lazy and as long as the government pays people not to work, people will keep not working.
There are jobs Americans “won’t do” because the government pays their bills for them so they don’t have to do them.
I am going to write him a strongly worded letter. Right after I watch Judge Judy and Maury. And then take my nap.
All new jobs went to ‘immigrants’ - AKA ‘cheap labor’..
Yep, I’ve also known lots of people who aren’t disabled in the slightest, but have signed up for “social security disability.” So not only are they not paying into the social security “lockbox,” they’re raiding it for the retired people who it was supposed to support.
Even NPR reports that 14 million now get disability checks. And they note that this has risen even as our health care has improved, discrimination against the disabled has been banned in the workplace and also ties in directly with the unemployment rate rising. And that basically anything qualifies as a disability...high blood pressure, anxiety, etc.
apps.npr.org/unfit-for-ork/
PLEASE don’t keep repeating this BS that 94 million are “out of work.” That figure includes retirees, children, stay-at-home moms, students, and prisoners. Don’t give the enemy ammunition with bogus statistics.
Yep graduated HS in 1980 also. Always worked. Even during the bad late 70’s you could find decent work.
Its a different animal today and the bucks don’t go very far at all.
There are a ton of people on SSD/SSI but also you have a tremendous load of illegals/immigrants working for peanuts in fields that used to pay a decent wage.
In my field (plumbing) you’ll have an owner of a plumbing business hiring them when he needs them while he still charges his regular rates and pays them crap.
Personally I think they are nuts just from a liability standpoint but they do it anyway.
Always see them in the plumbing supply using sign language to try to communicate with the counterman.
I’ve seen plenty of there work to. Horrible.
People think that something magically happens when they come across the southern border and they become expert tradesman.
We’ve trained a whole generation or two of youth to think the trades are beneath them. They are actually extremely rewarding careers. My dad worked in the building line (carpenter/builder) for over 60 years. The houses he’s built since 1948 will be his legacy. Just three men. Him, my uncle and a cousin did all of it. He’s 87 now and “retired”.
Government doesn't work.
Higher taxes, more rules and regulations being printed on a daily basis, restrictive zoning, punitive and restrictive out of control EPA making their own laws - all making it more difficult to start and maintain a small business. Escalating lawsuit incidence and prevalence always on a business person's mind. Remember, with each new rule and regulation, there's a potential lawsuit. Liability insurance, malpractice insurance, umbrella policies, 'insured to the max'.
Security systems, protection (if you're at that level). It cost a hell of a lot to do business in America today. Not to mention, working 80 hours a week while half the country floats. Nah, everyone is going Galt and the wheels are churning to a halt.
People like Bernie Marcus, co-founder and CEO of Home Depot saying, "I couldn't start my business now under the Obama Administration." That speaks volumes.
See Bernie here: Bernie Marcus, CEO of Home Depot believes that with current regulations and government intervention he would not be able to start Home Depot today. Worth seeing. . And this was July, 2012. .
Then there's the moral decay, the PC crap, the drug mess, the Marxist education mess, the culture shift and the lessening of the Judeo/Christian work ethic - all producing good little socialists. Oh, I forgot, the race pimps who want welfare, corporate shakedowns and cradle to grave entitlements . . and reparations?
Let's not forget the planned Cloward-Piven overload of the welfare system to usher in communism and voila', gee "the people just don't want a job anymore." Beltway is either totally clueless or they're all in on the planned destruction. I think it's the latter. .
Going to take a Trump or a Revolution to change The Threat We Face. We owe it to our grandchildren and the generations yet unborn to do what we can up to and on November 8, 2016. . . And we're not even talking about the planned current 'immigrant' invasions yet. .
Trump/Cruz 2016!
Are you mad yet? Then fight like hell for freedom!
FReeper thread: Freeper Thread on The Threat We Face Interesting reading two years later. Things the same and worse!
Why would you want a job when all your expenses are paid, and you can sit home watch TV or play Vids all day?
Invasion of Europe news….
We mentioned recently that it appears from some photos that the invaders of Europe are mostly fighting age young men.
The UN High Commissioner for Refugees does not tell us their ages, but does tell us that 75% are men. (Germans hide your daughters!)
Only 51% are Syrians, the rest are from all over the Middle East and Africa.
So, did the men abandon their women and children back home (in an unsafe country)?
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