In my periodic update on demographic trends in employment, I included a chart illustrating the growth (or shrinkage) in six age cohorts since the turn of the century. In this commentary we’ll zoom in on the age 50 and older Labor Force Participation Rate (LFPR).
But first, let’s review the big picture. The overall LFPR is a simple computation: You take the Civilian Labor Force (people age 16 and over employed or [...]
(CNSNews.com) – 9.5 million Americans have left the workforce during the presidency of Barack Obama, according to the Bureau of Labor Statistics.
In April, the total number of Americans counted as “not in the labor force” declined for the first time since December, but that number was still near a record high at 89,936,000.
Those not in the labor force declined by 31,000, from a record high of 89,967,000 in March. That [...]
Homelessness on the rise in America
3 years ago Obama promised to end homelessness for children & families within a decade. Since making that pledge, the number of families facing homelessness has been rising. Fears that federal budget cuts will make the problem even worse.
Middle class resigned to stagnation
America’s middle class has long embodied the nation’s optimism. Today, though, the chief preoccupation is less a dream of upward mobility than the [...]
And The Market Is Tumbling Again…
Here’s The Argument That The Entire World Economy Is Starting To Go Bad
Slowdown in the U.S., Europe, and China.
Here’s a quick look at some key data emerging from around the world:
Housing, which has been a huge part of the economic recovery, is also showing signs of stalling. Building permits are down, homebuilder confidence is down, foreclosure starts are up, and capacity constraints among mortgage lenders are also [...]
People Not In Labor Force Soar By 663,000 To 90 Million, Labor Force Participation Rate At 1979 Levels
Things just keep getting worse for the American worker, and by implication US economy, where as we have shown many times before, it pays just as well to sit back and collect disability and various welfare and entitlement checks, than to work .The best manifestation of this: the number of people not in the [...]
The jobs recovery is a complete and total myth. The percentage of the working age population in the United States that had a job in March 2013 was exactly the same as it was all the way back in March 2010. In addition, as you will see below, there are now more than 101 million working age Americans that do not have a job. But even though the employment [...]
Discouraged job seekers behind shrinking labor force
“The number of working-age Americans counted as part of the labor force — either with a job or looking for one — tumbled by 496,000 in March, the biggest fall since December 2009, the Labor Department said on Friday. That pushed the so-called workforce participation rate to a 34-year low of 63.3 percent.”
Civilian Labor Force Participation Rate (CIVPART)
2013-03: 63.3 Percent Last 5 Observations
Yes, it’s that time again, folks. Jobs Friday, when for one ever-so-brief moment the interests of Wall Street, Washington and Main Street are all aligned on one thing: Jobs.
A fresh update on the U.S. employment situation for February hits the wires at 8:30 a.m. New York time, offering one of the most important snapshots on how the economy fared last month. Economists polled by Dow Jones Newswires expect 160,000 new jobs [...]
146,000 Jobs Added In November, Beat Expectation Of 85,000, Unemployment Rate Lower At 7.7%
Confused why the unemployment rate dropped? The same, favorite BLS adjustment – a drop in the labor force participation rate which declined by 0.2% to 63.6% once again, as the number of people out of the labor increased by over 540K to 88,883,000.
In terms of quality of jobs, the biggest gain was in retail jobs as expected [...]
From Jim Quinn of The Burning Platform:
The unemployment rate during the Great Depression reached 25%. Without the BLS “adjustments” the real unemployment rate in this country is 23%. Cheerleading and packaging the data in a way to mislead the public does not change the facts:
There are 242 million working age Americans. Only 142 million Americans are working. For the math challenged, such as CNBC analysts, that means 100 million working age Americans [...]
According to the Obama administration, the unemployment rate in the United States has been slowly coming down over the past couple of years. But is that actually true? When you take a closer look at the data you quickly realize that the real unemployment numbers are much worse than we are being told. For example, if the labor force participation rate was the same today as it was back [...]
Welcome to Capital Account. The jobs report released today reiterates a grim situation for millions of unemployed Americans. The jobs number was below expectations again: the economy added 96,000 jobs while analysts expected 130,000. The unemployment rate fell from 8.3% to 8.1%, however this drop is most likely due to a fall in the labor force participation rate. Meanwhile stock markets appear more than eager to grasp the hand of [...]
Lowest workforce participation rate since September 1981
Jobless rate drops to 8.1 per cent but only because workforce shrinks
President Barack Obama knew of figures before big speech
Just 96,000 American jobs were added in August in a bleak monthly jobs report as 368,000 left the workforce, bringing labour market participation down to its lowest level for 31 years and dealing a blow to President Barack Obama’s re-election chances.
The national unemployment rate dropped [...]
Peter Schiff, Euro Pacific Capital
By: Peter Schiff Monday, August 6, 2012
The past week provided clear lessons not just in how central bankers have a limited ability to positively influence the economy but also how they are limited in their capacity to deliver the shortsighted policy actions that investors currently crave. The developments should provide new reasons for investors and economy watchers to abandon their faith in central bankers as super heroes capable of [...]
Nonfarm payrolls rose by just 80,000 in June, slightly worse than expected and the third straight month of sub-100,000 job growth. The jobless rate held at 8.2%. The employment report was disappointing. Here are 10 reasons why the jobs market is even worse than the headline figures. 1. Unemployment has topped 8% for 41 straight months. Last time above 8% – December 1983.
2. The jobless rate actually makes the labor [...]
Those who cannot find a job are called “discouraged workers” and they are indeed not counted in the “official” unemployment stats. Remember, you cannot spell Bureau of Labor Staistics (BLS) without BS.
Let’s take a trip over to Shadowstats for more accutrate information.
Alternate Unemployment Charts
The seasonally-adjusted SGS Alternate Unemployment Rate reflects current unemployment reporting methodology adjusted for SGS-estimated long-term discouraged workers, who were defined out of official existence in 1994. That estimate is added [...]
It is just getting sad now. In April the number of people not in the labor force rose by a whopping 522,000 from 87,897,000 to
88,419,000. This is the highest on record. The flip side, and the reason why the unemployment dropped to 8.1% is that the labor force participation rate just dipped to a new 30 year low of 64.3%.
Labor force participation Rate:
People not in labor force:
Excerpt and Link from the BLS site… Nothing is ever as its presented by the media, see the last sentence in the excerpt…, then go to the link.
“The civilian labor force participation rate (63.8 percent) and the employment-population ratio (58.5%) were little changed in March. (See table A-1.)
The number of persons employed part time for economic reasons (sometimes referred to as
involuntary part-time workers) fell from 8.1 to 7.7 million over [...]
One can write lengthy essays, op-eds, and client letters explaining both why the labor force participation rate is plunging due to innocuous reasons such as everyone over 40 retiring yesterday full of jouissance and excitement to begin the sunset phase of their lives using copious life savings earning 0.0001% in interest, or, inversely, why this is one great big propaganda ploy by the BLS to make Obama look good a [...]
By Greg Hunter’s USAWatchdog.com (Revised)
The way the latest unemployment numbers were reported by the mainstream media (MSM), you would think the Great Recession was over and the United States was solidly on the road to recovery. The Associated Press reported the numbers by the Bureau of Labor Statistics (BLS) with a story that said, “The United States added 227,000 jobs in February, the latest display of the breadth and strength of the [...]
From Mark Spitznagel, founder and chief investment officer of Universa Investments, a California-based hedge fund, first appearing in Project Syndicate
Capitalism’s greatest strength has been its resiliency – its ability to survive the throes and challenges of crises and business cycles to fuel innovation and economic growth. Today, however, more than four years into a credit crisis, a conspicuous enigma calls this legacy into question.
Despite recent hopes of recovery in the [...]
Employment Data Saga Continued: Krasting Says Larry Summers Misstates; Stockman Says It Goes Deeper
Courtesy of Wall Street Examiner
By David Stockman
Bruce – Great job on the Summers catch, but I’m wondering if this goes much deeper. I don’t particularly believe in tin foil hats, but all of these mainstream economists treat the BLS and BEA data like it’s holy writ—when it’s evident that the reports are so massaged, estimated, deemed, revised, re-bench marked and seasonally adjusted that any month-to-month [...]
You quote what today is called U3. On non-adjusted basis Jan 2012 is 8.8%. U6 is 15.2% and non-adjusted 16.2%
If the 1984 formula was used today, the unemployment rate would be ~ 22.5%. How can this be? Take a look at “labor force participation rate” and “discouraged worker” and “birth-death model”.
Also, look at Baltic Dry Index http://www.bloomberg.com/apps/quote?ticker=BDIY:IND and Harpex Indexhttp://www.harperpetersen.com/harpex/harpexVP.do.
Then realize that Politics has corrupted everything including government statistics.
- Jack Marse
On Friday, the entire financial world celebrated when it was announced that the unemployment rate in the United States had fallen to 8.3 percent. That is the lowest it has been since February 2009, and it came as an unexpected surprise for financial markets that are hungry for some good news. According to the Bureau of Labor Statistics, nonfarm payrolls jumped by 243,000 during the month of January. You can [...]
A month ago, we joked when we said that for Obama to get the unemployment rate to negative by election time, all he has to do is to crush the labor force participation rate to about 55%. Looks like the good folks at the BLS heard us: it appears that the people not in the labor force exploded by anunprecedented record 1.2 million. No, that’s not a typo: 1.2 million people [...]
From Zero Hedge:
A month ago, we joked when we said that for Obama to get the unemployment rate to negative by election time, all he has to do is crush the labor force participation rate to about 55%.
Looks like the good folks at the BLS heard us: it appears that the people not in the labor force exploded by an unprecedented record 1.2 million. No, that’s not a typo: 1.2 [...]
By JOHN MERLINE, INVESTOR’S BUSINESS DAILY
Initial jobless claims unexpectedly jumped by 24,000 last week to 399,000 as more workers lost their jobs, the Labor Department said Thursday. At the same time, the economy continues to lose workers.
In the 30 months since the recession officially ended, nearly 1 million people have dropped out of the labor force — they aren’t working, and they aren’t looking — according to data from Labor’s Bureau [...]
The fall in the labor force participation rate seems to confirm what a lot of folks have suspected: that the path from long-term unemployment to discouragement to permanent joblessness is a more or less one way street.
One does not need to be a rocket scientist to grasp the fudging the BLS has been doing every month for years now in order to bring the unemployment rate lower: the BLS constantly lowers the labor force participation rate as more and more people “drop out” of the labor force for one reason or another. While there is some floating speculation that this is due to early retirement, this [...]
Overall U.S. unemployment is 9.1%. For white adults, it’s 8%, and for white teens, 23%. Black adult unemployment stands at 17%, and for black teens, it’s 40%, more than 50% in some cities, for example, Washington.
Chapter 3 of “Race and Economics,” my most recent book, starts out, “Some might find it puzzling that during times of gross racial discrimination, black unemployment was lower and blacks were [...]
One of the key metrics in today’s report: April civilian non-institutional population at 239,146, a meager rise of 146k from March, and the Civilian Labor Force also barely growing from 153,406 to 153,421 means that for the 3rd straight month the Labor Force Participation Rate remained at a 25 year low of 64.2%.
March update: civilian noninstitutional population: 239.0 million; Civillian labor force: 153,406, Employed 139,864, Unemployet 13,542. Americans not in Labor Force: 85,594. Which means that the Labor Force Participation rate continues to be at a 25 year low of 64.2%. And Birth Death adds another 117,000.
From ABC News:
The U.S. unemployment rate dipped slightly to a two-year low of 8.8 percent with the addition of 216,000 [...]
And Birth Death adds another 117,000.