Posted on 05/04/2019 9:04:07 PM PDT by where's_the_Outrage?
Why are the people that quit looking for work keep increasing?
I believed that Obama falsified this numbers to get he employment rates lower. Now I fully expected Trump to use the same measures om calculating the percentages, however why with a booming economy are these numbers increasing?
From 2016: US unemployed have quit looking for jobs at a ‘frightening’ level: Survey: https://www.cnbc.com/2016/06/08/us-unemployed-have-quit-looking-for-jobs-at-a-frightening-level-survey.html
"“not in the labor force” swelled by 664,000 to a record 94.7 million Americans, according to Labor Department data."
The current numbers: 95,208 (Feb 2019) 95,577 (Mar 2019) 96,223 (Apr 2019)
LOL
Actually around here on the streets a loan can go from 3 percent a week to 6 percent a week.
And they don’t stop at annoying phone calls to get their money back :)
BTW, that’s an old Marx Brothers joke from Duck Soup.
Many of us did.
I agree. Most people do not plan as they accept the premise that SS will be there for them. Suckers!!!!!
https://fred.stlouisfed.org/series/U6RATE
In absolute numbers, total non-participation is high, but is total labor participation. You should probably disregard both these numbers as there are largely impacted by the growth of the overall population, and baby boomers retiring.
Trump’s team will be taking a long hard look at ‘disability’... once that’s done lots of folks will be joining the work force.
My point is with increased employment and increased wages people should be reentering the workforce. I am trying (but asking too much).
So the participation rate should be declining, not increasing.
I think two big things are happening. First: Obama had some numbers to juice to make the news look OK when it was actually much worse and a willing media to parrot the juiced numbers. Savings went down under Obama because the only place that was worth investing was the stock market, so interest rates went through the floor to keep that one number (the DJIA) going up. Unwinding that very tightly wound spring is dangerous, and it is somehow being done very well. Is that skill or dumb luck? It doesn’t really matter.
Second, demographically, a lot of people have been retiring. Some of those people had to delay retirement in 2007-2008 because their savings went to hell. That propped up employment somewhat, but also stagnated growth as those older entrenched employees kept younger employees from moving up and making their own mark on their companies.
Numbers are skewed everywhere, that is normal. Don’t believe a measurement of good jobs in 1970 v one in 2017.
The southern border has much more to do with it.
You have a valid point that I did not think. The stock market went apesh!t and if you were in it you may have won the lottery.
Great for you. Hope that worked for lots. Hope I am wrong but I don’t think the removed numbers support that.
I accepted the premise that SS would not be there for me when I retired, so my retirement finances were based on not receiving it. I retired at 60 and could have started drawing SS three years ago, but I still haven't filed for it.
Good grief
Most of those numbers are retirees and invalids
Sean Hannity was a bit of an ass when he was using the same scale as some absolute and never delved into what the numbers represented
This is a problem with multiple causes.
1. About one third of American adults have a criminal record. Nearly all American employers now conduct background checks, largely to protect themselves from the legal fallout of what have come to be called “negligent hires.”
2. A growing number of Americans have substance abuse problems. Alcohol used to be the biggest, but the opioid crisis and the legalization of pot have made it nearly impossible for employers in some areas to find anyone who won’t fail a drug test.
3. More and more people seem to have some type of mental health issue or a history thereof. This makes finding, and keeping, a job a big issue all on its own.
4. The gap between the skills, including what are called “soft skills,” that people can bring to work and what employers demand becomes wider every year. The high school graduation rate, eg, still remains at only 70%.
5. A college degree has become the 21st century equivalent of a high school diploma. It can cost nearly the price of a house to get one. And not all college majors lead to jobs.
Is somebody who runs their own business counted in the workforce numbers?
Re: The baby boomers retiring has a lot to do with it.
The “Not In Labor Force” percentage includes only Americans between 18-65.
Perhaps more Boomers retire early, but the percentage that get S.S. at age 62 has been steady for many years.
My own guess is that the size of the work force has disproportionately increased because of massive immigration, productivity has increased because of cell phones, expert software, robotics, etc., and government benefits are more plentiful and more generous.
US Population 326M
Children 74 M = 326-74 = 252M age 18 and over
Retired men 66M
Retired women 66M = 132M age 65 or older
120M = # of adults between 18 and 64, or 252-132
5.8M = # of unemployed, giving us
114M = total possible workers if all were healthy and working
157M = Current Employed = a percentage in excess of all 18-64yo’ds - meaning a healthy labor market is tapping into the over 65 and 16-17yo age groups. (157-114 = 46M jobs being filled between seniors and 16-17yo’ds, migrants with false ids, and visa holders)
The recent trend of sending every 18yo to college delays workforce entry for one to five years. Long-term unemployed are going to be those in rural areas, those now working under the table or on barter systems, those with trash degrees and poor worksearch attitudes who tend to milk unemployment until the end of benefits warning bell sounds, those with psychological issues or poor social skills, and those who are looking but can’t fit a job with their lifestyle preferences (the calif lobster-eating surfer guy for instance who will magically find a job when his benefits run out).
Just relax and enjoy your retirement. Grow your own food
Re: Is somebody who runs their own business counted in the workforce numbers?
Yes.
Also, small business owners pay the largest share of state and federal income tax compared to every other tax paying group.
Plum - your numbers are crazy.
There are so many mistakes I don’t even know where start.
61.8% of the population is between 18-64.
327 X 0.618 = 202 million
https://www.census.gov/quickfacts/fact/table/US/PST045218
Close here. Øbowel killed my NASA contract job and I said F' it.
IRA and other stuff gave me a path to say to hell with the endless chasing of engineering jobs. Had NASA been funded to get back to the moon, would probably still be working, ten years later.
Not the most careful planning, but when things fell into place, I bailed out of the work force.
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