Posted on 12/02/2016 7:10:41 PM PST by aquila48
The November jobs report looked pretty good on the surface except for one number that popped off the page: 95 million.
That's the number of Americans now counted as not in the labor force, a historic high that has confounded economists and policymakers. The total — 95.06 million to be more exact — has been rising consistently but surged by a gaudy 446,000 last month.
The jump occurred as the U.S. economy added 178,000 jobs and the headline unemployment rate dropped sharply.
Explaining the consistent increase in those leaving the labor force is complicated, with factors divided between an aging and rapidly retiring workforce, a skills gap that leaves job openings unfilled, and the nettlesome problem of too many people who find it's just easier to collect welfare and other transfer payments rather than go back to work.
"WTF are so many of them doing?" Peter Boockvar, chief market analyst at The Lindsey Group, said in a note after the nonfarm payrolls report. Boockvar used a crude online expression that nicely sums up the continued frustration with America's shrinking labor force. In a subsequent interview, he acknowledged the issue is many pronged and poses a long-term obstacle for economic growth.
"It's a combination. There's no question a lot of them are retirees," Boockvar said. "No one wants to say, 'I want to get fired and sit on my butt.' But when people do lose their jobs, they're not being incentivized enough to go back to work compared to the benefits they get by not being at work."
(Excerpt) Read more at cnbc.com ...
And what was that number...how many are on food stamps?
SSDI
Growing pot?
“Gonna lay around and chill
‘til her SNAP card gets filled.
And roll in my sweet baby arms.
Roll in my sweet baby’s arms.
Roll in my sweet baby’s arms.
Roll in my sweet baby’s arms.
Gonna lay around and chill
‘til her SNAP card gets filled.
And roll in my sweet baby’s arms!”
One thing they are NOT doing is being counted as unemployed...
they are the welfare state that Obama has been carefully crafting - his goal for the USA.
Candy Crush!
they are the welfare state that Obama has been carefully crafting - his goal for the USA.
Watching Japanese Anime. Smoking weed.
The market’s that big? Should’ve kept that warehouse in Osaka.
Collect SSDI and supplement by buying stuff at garage sales, estate sales, thrift stores and reselling on CraigsList and Ebay.
60% of people dropping out of labor force since 2000 were retirees and disability. 80% of people dropping out since 2012 were retirees. I'm one of the latter.
But, this overlooks an important caveat: a lot of people were forced into early retirement after being laid off in their 60's or even late 50's. They gave up and started Social Security early -- which lowered their standard of living significantly for the rest of their lives.
I also remember reading that disability claims skyrocketed after 2008. That's one of the reasons Social Security disability is in such bad shape.
We retired early, but voluntarily. We have enough assets and income from other sources to not need Social Security until I turn age 70. However, it was thanks to 35 years of investing the maximum in my 401(k).
EBT cards, lottery tickets, beer...it isn’t hard. And the current workplace sucks so bad, stagnant wages, non-existent benefits, increased workloads, decreasing holidays....They are smarter than us slaves.
Chugging beers and using the empties for target practice?
Highest non-participation but falling unemployment.
OXYMORON anyone? What a crooked media we have.
Most are milking the system and pinching off more welfare cases. Sterilize them.
Unemployment will be skyrocketing after January 20th. Watch their reporting. They will rediscover the rising cost of everything also.
We were forced to retire early, too, but have a pension now.
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