If you compare today's numbers to December 2000, the picture is even more striking.
The labor force participation rate in Dec. 2000 was 67%. Today it is just 62.8%.
The employment-to-population ratio then was 64.4%. Now it's 60.3%.
The population not in the labor force — they don't have jobs and aren't looking — has climbed a stunning 25.3 million over those years.
I didn’t think they cared about the ‘labor participation rate’.
They didn’t during Odumbsh!t’s term
How many people have retired since 2000?
They don’t have jobs and aren’t looking.
slackers living on democrat hand outs plantation owners smile.
“The report also finds, however, that wages rose slightly less than expected in April — with hourly earnings climbing at a 2.6% annualized rate.”
If wages were rising more than expected the experts would be warning of inflation.
“The population not in the labor force — they don’t have jobs and aren’t looking — has climbed a stunning 25.3 million over those years. “
Thanks to Obunghole, “whose only real creation, other than taking a daily dump” was making bums out of people by making welfare more available.
Why is this a "stunning" figure? The population not in the labor force includes tens of millions of retirees. That population is growing simply as a matter of course, as Baby Boomers retire and exit the work force permanently.
This is why the labor participation rate is one of the most useless figures published by the U.S. Department of Labor.
“You have to go all the way back to December 2000 to find the last time the unemployment rate was as low as April’s 3.9%. But hold the standing ovation. The labor market isn’t as bright, or as tight, as it might seem.”
ROTFLOL!
the leftist fake stream media never heard of the U6 labor numbers during the eight years of obama’s economic destruction, but suddenly they discover it for Trump ... anything to not have to publish good news about Trump ...
My job puts me in manufacturing facilities nearly every day of the week. It is a rare facility around here that doesn’t have a sign outside seeking to hire CNC machinists and welders. If there is no sign, it’s usually the first comment/question out of the plant manager’s mouth when we sit down to talk. Of course, I realize that is anecdotal and also only a regional/occupational situation. Your observation about labor force participation certainly is the proverbial 800# gorilla in the room.
I grew up wit 4% being good.
>>That’s led some economists to start “scratching their heads,” as one report put it, over why wages aren’t climbing faster in what appears to be an extremely tight labor market.
Stop scratching your heads, economists. The Market Fundamentalists control everything and the government’s fiat currency needs a parking place, so it doesn’t go to people who buy things they need.
The low labor participation rate coupled with cuts in Food stamps suggests a larger than previously understood underground cash economy. This will be with us for a while but will recede to normal levels as we kick out lawless illegal aliens.
Wages are always the lagging indicator. You have to have months of tight labor market before business finally pulls the trigger on wage hikes. Business HATES to raise wages so they will off all sort of non wage benefits and perks before they will start going to wage hikes.
Sure. Under bammy it was cause for jubliant celebrations. Under Trump, the “economists” are desperate to find ways to show that it doesn’t mean anything.
“wages rose slightly less than expected “ That means their predictions were wrong. Reality overrules wishes, so shut up.
I can tell you as owner of an industrial temp service that the floor of the labor market is moving up considerably quicker. The wage to get Ed off the couch has risen $1.50 in the last year.
There are 100,000’s of open jobs in the US - especially in Transportation and Warehousing. Atlanta, Columbus, OH, Allentown, PA to mention a few locations, cannot open more warehouses and truck docks because they cannot find workers. The jobs creation number is misleading, these jobs have been open since the Fall of 2017.
You can be 100% certain that when wages do, in due time, begin to rise noticeably, the media WILL NOT say, “hey, isn’t that wonderful, Trump did a great job!”.
No, they will instantly begin obsessing over inflation, whether real or imaginary.
We will quickly be told far more suffer from alleged inflation than benefit from higher wages.
Sad.
Wonder if that includes anchor baby mommas?