Labor Force Continues to shrink! Let's blame Bush, Clinton and even Reagan!

[righteousdude2]

"In light of the strike on Verizon (NYSE:VZ), a relatively weak report of 170,000 jobs was expected; however, the report delivered far below expectations with just 38,000 jobs created. The new data, detailing the worst jobs' numbers in nearly six years, is also accompanied with downward revisions of earlier numbers. The BLS revisions of employment figures for March and April puts the economy with 59,000 less jobs than previously reported.

The labor-force participation rate also decreased as 660,000 more workers left the labor force. The current participation rate of 62.6% is nearly the lowest the US has seen in the last four decades." http://seekingalpha.com/article/3980642-may-jobs-report-shockingly-bad

That makes it a grand total of 94,708,000 Americans no longer in the labor force. The lowest in four decades!

"A record 94,708,000 Americans were not in the labor force in May — 664,000 more than in April — and the labor-force participation rate dropped two-tenths of a point to 62.6 percent, near its 38-year low, the Labor Department’s Bureau of Labor Statistics reported on Friday." http://endtimeheadlines.org/2016/06/record-94708000-americans-not-in-labor-force/

However, who cares?! After all, our fearless, never tell a lie, leader of the free world tells us we are better off now than ever before. So, just like the naked emperor, l not point out that he may, in fact, be naked!

 

[InTheLight]

From one of the articles you linked:

BLS points to retirements among the aging baby boom generation as a key factor affecting the labor force participation rate. But the weak job market has caused other Americans to give up job-hunting in favor of staying home or going back to school.

 

[Revmitchell]

From one of the articles you linked:

retirements among the aging baby boom generation as a key factor affecting the labor force participation rate.

You don't get it. that factor is irrelevant to the number of people who are wanting work and cannot find it. This number alone is a huge problem and evidence of a poor economy. Continuing to reference the retirees is not helpful in discussing how this poor economy is effecting those who need and want work. It says nothing about either.

 

[InTheLight]

You don't get it. that factor is irrelevant to the number of people who are wanting work and cannot find it. This number alone is a huge problem and evidence of a poor economy. Continuing to reference the retirees is not helpful in discussing how this poor economy is effecting those who need and want work. It says nothing about either.

People not able to find work is certainly a factor, but not the KEY factor in the decline of the labor participation rate. There are retirees, there is the rise of automation, there is under educated people.

Funny how right wing talking heads will talk about the labor participation rate being so low because people can't find work yet simultaneously there is full employment among illegal immigrants, in fact they are taking away jobs from Americans.

 

[Revmitchell]

People not able to find work is certainly a factor, but not the KEY factor in the decline of the labor participation rate.

So what? It is not a factor in the number of people wanting and needing work but cannot find it. Neither does it help the outlook of the economy look any better.

There are retirees,

Irrelevant

there is the rise of automation,

Which is a result of minimum wage being over inflated.

there is under educated people.

There are also highly educated people out of work, wanting work, cannot get work.

Funny how right wing talking heads will talk about the labor participation rate being so low because people can't find work

Why is that funny

yet simultaneously there is full employment among illegal immigrants, in fact they are taking away jobs from Americans.

ok well thanks for making my case.

 

[InTheLight]

You think the rise of automation is driven by the rise in minimum wage? Yeah, maybe a sliver of the motivation behind it was rising minimum wage, and yeah, most recently it's been getting attention, but automation has been going on for the past 30 years or so, and it wasn't driven by the minimum wage.

 

[Revmitchell]

You think the rise of automation is driven by the rise in minimum wage? Yeah, maybe a sliver of the motivation behind it was rising minimum wage, and yeah, most recently it's been getting attention, but automation has been going on for the past 30 years or so, and it wasn't driven by the minimum wage.

sigh, the expansion of it in recent days and months is.

 

[church mouse guy]

Larry Kudlow says that a recession looms.

 

[InTheLight]

Larry Kudlow says that a recession looms.

OK. Define "looms"?
Within 6 months?
Within a year?
Two years?
What?

People have been saying for 6 years now that the bull market was a mirage. That the stock market was going to crash again. At what point do you stop listening to these people?

 

[Revmitchell]

OK. Define "looms"?
Within 6 months?
Within a year?
Two years?
What?

People have been saying for 6 years now that the bull market was a mirage. That the stock market was going to crash again. At what point do you stop listening to these people?

Well the main thing propping up our economy has been the government interference. People want to act like we are in some sort of recovery but the fed has been unwilling to raise rates. That is contradictory. When the fed can allow rates to move independent of them then we are in a recovery. Until then it is propped up by government interference and based on nothing to do with the market itself.

 

[Revmitchell]

OK. Define "looms"?
Within 6 months?
Within a year?
Two years?
What?

People have been saying for 6 years now that the bull market was a mirage. That the stock market was going to crash again. At what point do you stop listening to these people?

Well the main thing propping up our economy has been the government interference. People want to act like we are in some sort of recovery but the fed has been unwilling to raise rates. That is contradictory. When the fed can allow rates to move independent of them then we are in a recovery. Until then it is propped up by government interference and based on nothing to do with the market itself.

 

[Crabtownboy]

Well the main thing propping up our economy has been the government interference. People want to act like we are in some sort of recovery but the fed has been unwilling to raise rates. That is contradictory. When the fed can allow rates to move independent of them then we are in a recovery. Until then it is propped up by government interference and based on nothing to do with the market itself.

1. Lots of baby boomers are retiring.
2. Technology is automating many jobs and that will continue. You kids best get a very good education. There is going to be very few jobs for the un and under educated.
3. An undergraduate degree either is or will soon be the equivalent of a high school degree when I was young. Get a graduate degree, several would be best.

 

[InTheLight]

You don't get it. that factor is irrelevant to the number of people who are wanting work and cannot find it. This number alone is a huge problem and evidence of a poor economy.

Looks like there is plenty of manufacturing jobs open, but people aren't taking the jobs. There's 1.5 job openings for every new hire.

 

[Salty]

Didnt automation start well over 100 years ago?

 

[Revmitchell]

Looks like there is plenty of manufacturing jobs open, but people aren't taking the jobs. There's 1.5 job openings for every new hire.

that graph shows little to nothing. Where are these manufacturing jobs compared to where the people are who cannot find work?

 

[InTheLight]

that graph shows little to nothing. Where are these manufacturing jobs compared to where the people are who cannot find work?

Don't know. In the olden days people used to move to where the jobs were, not go on unemployment and quit looking for work.

 

[Lewis]

Manufacturing Sees More Job Losses Amid Surging Trade Deficit: AAM Statement
June 03 2016

U.S. manufacturing loses 10,000 jobs in May while the overall economy gains only 38,000.
The economy added 38,000 jobs in May and manufacturing lost 10,000 jobs, according to the latest employment data from the Labor Department.
LINK
One reason driving these job losses was the goods and services trade deficit, which hit $37.4 billion in April, up $1.9 billion from $35.5 billion in March, according to the Commerce Department. The goods trade deficit with China hit $26.6 billion.

 

[righteousdude2]

1. Lots of baby boomers are retiring.
2. Technology is automating many jobs and that will continue. You kids best get a very good education. There is going to be very few jobs for the un and under educated.
3. An undergraduate degree either is or will soon be the equivalent of a high school degree when I was young. Get a graduate degree, several would be best.

CTB, if this is what you choose to believe, that is certainly your right as an American, and it is not my goal to change how you view things! I presented a fact, you presented an opposing view, the same one put out by Josh Earnest for his boss Obama! Shalom!