Posted on 10/06/2014 10:42:21 AM PDT by SeekAndFind
America's jobs picture is seeing huge improvement, with robust numbers that are giving investors confidence in the economy. The U.S. added 248,000 jobs last month, bringing the unemployment rate below 6 percent.
But one part of that picture is still a puzzle: People continue to stop looking for work, and in doing so, are dropping out of the labor pool. In fact, the participation rate in the labor force has fallen to 62.7 percent -- its lowest level since early 1978.
How can this be? As the job market heats up and the unemployment rate falls, wouldn't that mean more people are looking for work, not less?
"The decline is without precedent," Bob Funk, chief executive of global staffing company Express Employment Professionals, told CBS MoneyWatch. Government tracking of employment statistics go back to 1948, he said, "and a decline like this has never happened since then."
There's no clear reason why people are leaving the workforce, and the issue has ignited a fierce debate among economists. One trend that they seem to agree on? About half of the decline is due to baby boomers entering retirement years.
The other half of decline gets a little fuzzy. Funk notes that some portion of the unemployed either don't want to work or don't think they can find a job. His company commissioned a poll of unemployed in May, he said, and found that 47 percent have completely given up looking for work. "That's a real problem," he said.
The labor force participation rate was around 66 percent of the population in 2007 before falling to 62.7 percent.
Some economists say the expansion of food stamp and disability programs are keeping people out of the labor pool. Others says that young people are dropping out, partly because more are going to college
(Excerpt) Read more at cbsnews.com ...
I would if I could ;)
Ebt and disability are now options!
There is, bit it's one the welfare state advocates in the MSM don't like to hear: People are increasingly realizing that working harder to earn a little more money and pay a lot more taxes is a foolish waste of their time. Better to Go Galt, even if they don't all know who Galt is.
Most of those “new jobs” pay less than welfare. It’s part of “fundamentally transforming” the country.
One reason is age discrimination. If you’re over 50 it’s hard finding a job other than walmart greeter.
101 Million adults Not employed.
Guess the percentage of adults employed.
“One reason is age discrimination. If youre over 50 its hard finding a job other than walmart greeter.”
I’ve seen that via some acquaintances of ours. That type of discrimination has moved them to heavily embracing ocare and a lot of dim talking points.
The question should be HOW ARE PEOPLE LIVING WITH NO JOB!
That's the question I want answered!
RE: One reason is age discrimination. If youre over 50 its hard finding a job other than walmart greeter.
I thought that was illegal?
But then, there are ways to by-pass that....
CLEARLY, it's because welfare and Gov't benefits pay more than a job!
Because I could?
“I thought that was illegal?
But then, there are ways to by-pass that....”
Many ways.
When did a little thing like a law interfere with anything?
.
People retiring is the problem?
The figures from September showed of the 248,000 jobs created 230,000 were in the 55 to 69 year age demo,in the 25to 54 age demo,10,000 jobs were lost!
All the jobs were in minimum wage or slightly higher range
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