Posted on 11/12/2013 3:47:50 PM PST by Nachum
The percentage of American civilians 16 or older who have a job or are actively seeking one dropped to a 35-year low in October, according to the Bureau of Labor Statistics. In September, the labor force participation rate was 63.2 percent, but in October it dropped to 62.8 percent—the lowest it has been since February 1978, when Jimmy Carter was president. The labor force, according to BLS, is that part of the civilian noninstitutional population that either has a job or has actively sought one in the last four weeks. The civilian noninstitutional population consists of people 16 or older,
(Excerpt) Read more at cnsnews.com ...
The list, Ping
Let me know if you would like to be on or off the ping list
I know this is a problem.
But I’d be interested to have stats on how many are folks like me who have retired.
Just like there was a surge of peeps thru school and college, the boomers are heading (many involuntarily) for the exits.
In a strange coincidence, the number of government-dependent Democrat voters has hit a 35-year high.
Who am I kidding? It’s hit an all time high. At least until the next reporting period. Yay!
Lower participation rate and higher unemployment rate do not equal 204,000 jobs gained, unless the job gain numbers aren’t seasonally adjusted (IOW temp holiday help).
There will NOT be any change for the next 38 months...
Yep. And IF a Republican is elected president you can be assured the numbers will change drastically. Then you will have the MARXIST media crowing about how bad the economy is under a republican administration. Mark my words.
But but... unemployment is less than %7.5
That’s the way it goes now that 42% of the people living in this country have shifted into accepting a cradle to grave nanny state. Why work when the government will take care of you? All you have to do is give up your freedom and who needs that anyway when you’ve got your face stuck to a “smart” phone 24/7?
The unemployment rate in Beijing and China is 4.1%.
Bring back American jobs, to America.
Those numbers come from different surveys. I think the jobs number comes from the business survey, and the employment and participation rates come from the household survey.
Back when Carter was president, Peter Drucker wrote a book which predicted a pending problem with social security which was based on the participation rate projections at the time using the 78 era rate. Drucker said that even the loftiest estimated government rates in the future did not generate enough funds to cover the SS bill.
He was right but wrong about the participation rate. It passed the projections in the 80’s,because women entered the workforce and times improved. There were more jobs and the Drucker fear was pushed back. It’s still coming though.
I began watching the participation rate instead of the unemployment rate, which is bogus a couple of ways. I figured if I were a benevolent king, I would always make sure that a constant and growing percentage of my adult population was working to keep them and me happy.
We don’t have benevolent king though. Just the opposite.
Understood.
The UI number is bogus as it doesn’t reflect permanency. But we all know that.
Thanks Nachum.
About That Surprise Jobs Report - Big Gainer (Again) Was Low Wage Food/Drinking Services
Confounded Interest | 11/12/2013 | Anthony B. Sanders
Posted on 11/12/2013 3:57:54 PM PST by whitedog57
http://www.freerepublic.com/focus/bloggers/3090573/posts
Good Job! But Carter was the reason I joined the Army. No jobs and no prospects in the foreseeable future back in 1978! No gasoline, and when there was; long, long lines.
Am I the ONLY Freeper that remembers this? I know, I’m ANCIENT, LOL!
My folks were paying 22% on credit cards and their mortgage was 18%! Grandpa said, ‘This is just flat-out stupid’ and he paid off the house and my parents paid him back.
When IS the current Inflation Bubble going to pop? Good Lord, it’s going to be UGLY! You youngsters have no idea what you’re going to be up against...
My participation in the labor force has hit a 35 year low. My boss says I’m getting old. He would know. He is 2 months older than me.
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