So 139 million to 143 million IS an improvement.
Labor Force Dec 2007 was 153,918,000. March 2013 it's 155,028,000 and that's after dropping 626,000 since January.things are every bit as bad as people are trying to paint it. We have a growing population and declining work force along with a reduction in the labor market.
And both are up from the worst of the decline.The key number is 155 million labor force today and 143 million working. That is a disaster that only Europe can relate to.
Therefore, since the world has still/Much good, but much less good than ill,
And while the sun and moon endure/Luck's a chance, but trouble's sure,
I'd face it as a wise man would,/And train for ill and not for good.
1. The numbers I posted show that the Baby Boom retirements explain only a small part of the decline in the labor participation rate. Almost 85% of the drop in the labor participate rate for those aged 25 and older is occurring among those aged 25-64.
2. All of the labor force participation rate decline in the age 25-64 groups is occurring in the age 25-54 segment.
3. Older people are maintaining or increasing their labor force participation rate: Ages 55-64: No change; Ages 65 and older: +2.0%
4. I agree about the point about discouraged workers. Those workers are dropping out for cyclical factors and structural ones. The cyclical ones are not really a big problem, as those workers typically return to the labor force. The structural factors should be a big concern. Those workers face barriers to re-entering the labor force (skills-jobs mismatch). The dynamics behind the structural factors concern skill development (education/training) on one hand and the composition of the job market (ongoing shift, in general, toward knowledge-intensive jobs).
OECD reports and U.S. data have highlighted negative educational attainment trends, particularly among males. The data is now beginning to ripple through the labor force participation rates for younger people in the age 25-54 segment.
5-Year Change in Labor Force Participation (Ages 25-29):
Men have dropped out of the labor force at a rate 90% faster than women.
5-Year Change in Labor Force Participation (Ages 30-34):
Men have dropped out of the labor force at a rate nearly 15% faster than women.
The adverse educational attainment outcomes are most pronounced in recent years and, not surprisingly, are showing up in the Age 25-29 group. Some of the disparity in the Age 30-34 group is masked by the reality that some women are leaving the labor force for family formation considerations.
March is a perfect example of what is happening to employment in America.
The economy only created 88K jobs - far below the number of new people potentially entering the labor force. So the U3 rate should go up.
But it went down.
Only because more Americans gave up looking for work (which is why the participation rate above is going down).
The unemployment situation is NOT getting better in America, it is getting worse.
If the participation rate were the same today as when Obama took over, the unemployment rate would be well over 10% today.
People that want work but have given up because they cannot find it are unemployed - and should be counted as such. But right now they are counted as having left the work force...which means they are not counted against the unemployment rate...which is nuts.
All these massive deficits and Fed money 'printing (QE's) are doing is artificially driving up equities/housing prices.
Which makes the rich, richer; the middle class feel better (when most of them are not); raises inflation (which is massively under-reported by the skewed CPI - which is now more of a cost-of-living indicator rather then an inflation indicator), makes unemployment seem much better then it is and increases poverty (food stamp usage has grown by over 40% since Obama took over).
Between this mess, Japan's outright currency war and Europe's decline...things are going in a negative direction.
But naive masses/economists just see the DOW going up, housing prices creeping up and the U-3 and CPI being artificially kept lower and think America has 'turned the corner'.
No she hasn't...not even close.
The house of cards is growing.
Last edited by DA60; 04-05-13 at 10:37 AM.
'What kind of sick and twisted toy factory is this?'
'We are all the sum of our tears. Too little and the ground is not fertile, and nothing can grow there. Too much, the best of us is washed away.'
"Better to be dead and cool, than alive and uncool."
Being up from the worst decline but not even close to being back to 2007 numbers is the disaster I am talking about. what you are showing is that we have a 3 million increase in labor force and a 3 million loss in employment. Is that a success in your world?
The jobs numbers were abysmal but had nothing, zero to do with the sequestration and everything to do with the onset of Obamacare and the American people's idiotic decision to put the golfing/crooning/jumpshot shooting clown back in the White House.
Almost 500.000 left the workforce last month resulting in a downward tick in the unemployment rate. At this pace, Obama can claim success when everyone in America stops working or looking for work. Well done.