Posted on 04/01/2011 8:44:36 AM PDT by george76
March update: civilian noninstitutional population: 239.0 million; Civillian labor force: 153,406, Employed 139,864...
Which means that the Labor Force Participation rate continues to be at a 25 year low of 64.2%.
(Excerpt) Read more at zerohedge.com ...
Its a miracle, Brother Dominic!
Nice H&S chart. All you needed are the “volume” bars. Kind of hard to do. Maybe intensity of sentiment of underemployed or unemployed workers? lol
Lots of people now have learned they don’t need to participate in the labor force since they have Obama’s stash to leach off of.
Does anyone know what the latest Government lie about the unemployment rate is? I know Gallup has it at 10%, but I bet Bozo has knocked it down to about 7 already, judging from Jan and Feb numbers.
The money quote:
“And Birth Death adds another 117,000.”
That is the BLS Birth and Death Model added in 117,000 jobs.
What is the Illegal Immigration Adjustment? Shouldn't that be included as well?
If one raises the labor participation rate by two points (64.19% to 66.19%), unemployment rises from 8.8% to 11.6%. I consider the books to be cooked.
The Center For Immigration Studies has researched this issue for several years.
The ten year decline in Labor Force Participation Rate is caused exclusively by job losses for native born citizens.
During the same period, legal immigrants have significantly increased their participation rate and their total number of jobs.
Job data on illegal immigrants is all over the map, but most sources agree the recession caused at least moderate job losses for this group.
Since most immigrants - legal and illegal - have limited job skills, their greatest impact is on America’s poorest native born workers.
Is there a documented figure for legal immigrant labor force? The Bureau of Labor Statistics does not document this. If legal immigrants have significantly increased their participation rate and total number of jobs, shouldn’t that be included in the current participation rate to get a true unemployment rate?
From Hoodat’s post above, if current labor force participation increases by 2%, in turn, increasing unemployment to increase to 11.6% from 8.8%, wouldn’t we see a higher and truer unemployment rate with legal immigrants?
Sorry for the long delayed response.
The number of legal immigrants employed in 2011 is about 25 million.
Total employment in the USA is about 150 million.
Those numbers come from the CPS (Current Population Survey) done by the Census Bureau each month.
The Labor Force Participation Rate does include legal immigrants, so there would be no change in the unemployment rate.
What is significant is that large numbers of native born are dropping out of the Labor Force.
At the same time, they are being replaced by large numbers of legal immigrants entering the Labor Force.
Since most immigrants have low skills and low education, their presence creates intense downward pressure on wages and job openings for the native born.
Just the other day I read that the Participation Rate for Black adult males has reached a 70 year low.
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