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Thread: Sessions: 'For Every One Job Added, Nearly 5 People Left the Workforce'[W:88]

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    Re: Sessions: 'For Every One Job Added, Nearly 5 People Left the Workforce'

    Quote Originally Posted by Samhain View Post
    % of participation of above 55 has risen from 31% to 40% since 1990. It appears to have peaked at 40% around 2007.
    Sure but the % of total population that is made up by the age groups have changed.
    I'm using 2002 and 2012 data (we're using Labor force participation numbers from 92)

    In 2002 43% of the population were in the age group 25-54
    In 2012 that number is 40%

    Even if you're having higher participation rates among older Americans it doesn't nearly match the participation rate of americans at the younger group.

    http://www.census.gov/prod/cen2010/b...c2010br-03.pdf

    Figure 4 illustrates this.

    We have an aging population. When the population ages you don't have as high a % in the workforce. I agree...economic factors make the numbers worse than they'd be in a good economy but these drops of Labor Force Participation rates has a lot to do with demographic factors.
    “Capitalism is the astounding belief that the most wickedest of men will do the most wickedest of things for the greatest good of everyone.” John Maynard Keynes

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    Re: Sessions: 'For Every One Job Added, Nearly 5 People Left the Workforce'

    Quote Originally Posted by ocean515 View Post
    How does the BLS calculate the actual number of people leaving the workforce?
    % you're referencing is for individuals 16 and over
    “Capitalism is the astounding belief that the most wickedest of men will do the most wickedest of things for the greatest good of everyone.” John Maynard Keynes

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    Re: Sessions: 'For Every One Job Added, Nearly 5 People Left the Workforce'

    Quote Originally Posted by radioman View Post
    Okay.
    If the job situation is so bad, why don't GOPers support extended unemployment benefits?
    That's a miss-characterization.

    GOP isn't against extending unemployment benefits, just that it has to be paid for by spending cuts in other areas, and this is when the Democrats claim that the GOP is against extending unemployment benefits.

    The Ohio Republican maintains the position he expressed last month that Republicans would “clearly consider” an extension of federal help for the long-term unemployed “as long as it’s paid for and as long as there are other efforts that will help get our economy moving once again,” Boehner spokesman Michael Steel said Friday.
    Boehner open to extending unemployment benefits | TheHill

    Obama, in his (n)ever present statesmanship and (n)ever present leadership, Obama hits House GOP on unemployment benefits - Reid J. Epstein - POLITICO.com picking a fight over it.

    President Barack Obama has the fight he wants.

    Minutes after winning a key Senate vote on the three-month extension of unemployment insurance, Obama teed up the forthcoming battle with House Republicans.
    Obama hits House GOP on unemployment benefits - Reid J. Epstein - POLITICO.com

    Of course, given the complicit, Biased Lame Stream Media (BLSM), the 'news' reports then report that the GOP is against extending unemployment benefits. Factually inaccurate.

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    Re: Sessions: 'For Every One Job Added, Nearly 5 People Left the Workforce'

    Quote Originally Posted by iliveonramen View Post
    % you're referencing is for individuals 16 and over
    The US Census provides the data the BLS uses to calculate the Labor Force Particiaption rate. They also extrapolate data to arrive at a calculation to estimate the number of people leaving the workforce, i.e. retiring baby boomers.

    The Census admits there are fewer people retiring at age 65 and older as a percent of that group than historical models used to calculate due to econmics, better health, etc.

    Since the current unemployment rates have been so significantly influenced by factoring in people leaving the workforce, how confident can one be that these numbers are accurate?

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    Re: Sessions: 'For Every One Job Added, Nearly 5 People Left the Workforce'

    Quote Originally Posted by SouthernDemocrat View Post
    I really don't think the mediocre job growth the last few years has much to do with anything that has gone on in Washington other than the dysfunction in congress and resulting economic uncertainty that has placed a small drag on growth.
    There is think you are missing something.

    New federal regulations cost the economy $112 billion in 2013, according to a newly released tally of government figures from the American Action Forum.

    Led by the Environmental Protection Agency, the Department of Energy and health care agencies, the federal government added 157.9 million hours of paperwork for U.S. workers.

    American Action Forum, a right-of-center Washington think tank, found in an analysis of Office of Information and Regulatory Affairs and Federal Register data released Wednesday that regulators have published $494 billion in net costs in final rules from 2009 through 2013.

    Two major proposed rules, relating to emissions standards and efficiency standards for motors, drove the regulatory costs for 2013. Yet, according to AAF, overall regulatory activity was down from previous years in President Obama's tenure. The administration published 77 new major regulations, versus 100, in 2010. Any regulation that results in an annual effect on the economy greater than $100 million is considered major.

    The largest new burden in terms of paperwork came from an "obscure" rule relating to affirmative action and nondiscrimination for contractors. It would add 9.9 million hours of paperwork.

    AAF also measured the cost of regulations on individual companies by examining their 10-K reports. Among the biggest losers were Bank of America, with $1.7 billion in annual compliance costs, Duke Energy with $5.7 billion, and Pfizer with $1.6 billion.

    Regulatory costs are only going to increase in 2014, predicts AAF. Depending on the White House's sensitivity to the politics around regulations and how quickly rules are moved, they could total $143 billion, the think tank estimates.
    Study: $112 billion in new regulations in 2013 | WashingtonExaminer.com

    Just think, that money could have been not been spent on unproductive efforts regulatory compliance efforts (overhead), but instead expanding businesses, starting new businesses, hiring workers, stimulating demand.

    Quote Originally Posted by SouthernDemocrat View Post
    Part of the problem is worldwide. The United States actually has one of the lower unemployment rates in the developed world: List of countries by unemployment rate - Wikipedia, the free encyclopedia

    I can't imagine any economic policies, left right or center, that would have had us back to full employment when you consider that few other comparable nations have been able to accomplish this since the 2008 to 2009 recession. Taxes are historically quite low. The Feds have infused tons of money into the economy via Quantitative Easing, corporate profits are quite high as well as investment. However, hiring remains mediocre.

    In terms of economic policy, I think the problem actually lies at the states. If you look at unemployment by state, there is huge variation:
    Unemployment Rates for States

    Part of this is attributable to energy booms in states like North Dakota, Wyoming, and Texas. However, there is obviously more to it than that, and its not just a blue state / red state divide either. Hawaii, Vermont, and Minnesota are all solidly blue states, yet are in the top 10 for low unemployment despite not having any type of energy booms in those states. 5 of the top 10 states with the highest unemployment rates are red states. So I don't think being a republican ran state necessarily leads to better economic growth, nor does being a blue state mean a state is anti-business. However, when you look at the poor performance in recent years by states like California, New Jersey, Connecticut, and Oregon, that has to be at least partially attributed to bad policy at the state level. Point being there is conservatism that is good for economic growth - Utah for example, and there is conservatism that is bad for economic growth - Kentucky or Nevada. Similarly, there is liberalism that is good for economic growth - Minnesota for example, and there is liberalism that is bad for economic growth - California. Setting aside states with energy booms like Texas and North Dakota, I think what good performing states have in common is not that they are all red or blue states, but rather that they are states that are pragmatic in their governance (Utah on the right, Minnesota on the left). The worst economic polices at the state and national level are those that are overly ideological and lack moderation and pragmatism. Point being our polarization and radicalization at all levels of government is our biggest impediment to economic growth in my opinion.
    Face it. The recovery that we have is not BECAUSE of Obama and his economic and regulatory policies, it is IN SPITE of the Obama and his economic and regulatory policies. We are lucky that we have a recovery at all.

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    Re: Sessions: 'For Every One Job Added, Nearly 5 People Left the Workforce'

    Quote Originally Posted by ocean515 View Post
    The US Census provides the data the BLS uses to calculate the Labor Force Particiaption rate. They also extrapolate data to arrive at a calculation to estimate the number of people leaving the workforce, i.e. retiring baby boomers.

    The Census admits there are fewer people retiring at age 65 and older as a percent of that group than historical models used to calculate due to econmics, better health, etc.
    Sure...but even if 40% of people in that age group work compared to 35% a decade ago any gains in participation rates for that age group still doesn't compensate for the overall population shift to older ages.
    Since the current unemployment rates have been so significantly influenced by factoring in people leaving the workforce, how confident can one be that these numbers are accurate?
    I'm not sure where you're going with this. Why exactly are you doubting the numbers?
    “Capitalism is the astounding belief that the most wickedest of men will do the most wickedest of things for the greatest good of everyone.” John Maynard Keynes

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    Re: Sessions: 'For Every One Job Added, Nearly 5 People Left the Workforce'

    Quote Originally Posted by US Conservative View Post
    Deflect! Deflect! Deflect!
    Fine I won't read the charts you post, fair enough?

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    Re: Sessions: 'For Every One Job Added, Nearly 5 People Left the Workforce'

    Quote Originally Posted by iliveonramen View Post
    Sure...but even if 40% of people in that age group work compared to 35% a decade ago any gains in participation rates for that age group still doesn't compensate for the overall population shift to older ages.

    I'm not sure where you're going with this. Why exactly are you doubting the numbers?
    Removing people from the workforce lowers the overall participation total, which without a single job being created, would lower the unemployment rate.

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    Re: Sessions: 'For Every One Job Added, Nearly 5 People Left the Workforce'

    Quote Originally Posted by ToastyOats View Post
    Huh. Didn't know that Obama was president since 1990.

    Who knew?
    That was when the Cold War was won and the number of jobs in the liberated part of the world exploded adding to their continuing growth in China and a number of further low or once low income countries. The numbers in the US seem to mirror this.

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    Re: Sessions: 'For Every One Job Added, Nearly 5 People Left the Workforce'

    Quote Originally Posted by ocean515 View Post
    Removing people from the workforce lowers the overall participation total, which without a single job being created, would lower the unemployment rate.
    I'm not sure why that is an issue. Should the unemployment rate include individuals not looking for a job? Should it include people that are at retirement or people too young for a job or individuals going to school full time?
    “Capitalism is the astounding belief that the most wickedest of men will do the most wickedest of things for the greatest good of everyone.” John Maynard Keynes

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