Unemployment Rate will Fall If...

[InTheLight]

Businesses added just 119,000 jobs in April, according to a report issued Wednesday by payroll-processing company ADP. The number fell far short of the 170,000 jobs economists were expecting.


The unemployment rate is not expected to fall beyond its current 8.2%, unless more workers leave the labor force.

http://money.cnn.com/2012/05/02/news/economy/adp-jobs-report/index.htm?iid=HP_LN

Way to manage the economy, Mr. Obama!

 

[targus]

The unemployment rate is not expected to fall beyond its current 8.2%, unless more workers leave the labor force.

I have always thought this to be a ridiculous concept.

Where do all these people go who are supposedly "leaving the work force"?

On permanent vacation in the Bahamas living off of their large financial investments?

 

[InTheLight]

I have always thought this to be a ridiculous concept.

Where do all these people go who are supposedly "leaving the work force"?

On permanent vacation in the Bahamas living off of their large financial investments?

A large number of them are retirees. I would guess there are 50,000 people retiring in any given week. This will only accelerate as more and more baby boomers reach retirement age.

 

[targus]

A large number of them are retirees. I would guess there are 50,000 people retiring in any given week. This will only accelerate as more and more baby boomers reach retirement age.

Largely they are people whose unemployment benefits have expired.

Based on not being able to find a job before unemployment payments end they are declared as "no longer in the workforce" and the unemployment rate goes down.

If things get bad enough unemployment will be 0% even though no one has a job.

 

[billwald]

New job numbers are meaningless unless we also know the pay rate and are they temporary jobs?

 

[LadyEagle]

I read the other day that large numbers of unemployed whose benefits have expired are now filing for disability.

PS: As a baby boomer who could retire at age 62, I continue to keep working full time because the average social security benefit is around $1000 per month. Nobody I know can live on SS alone.

 

[carpro]

If things get bad enough unemployment will be 0% even though no one has a job.

:thumbs:

Well said.

 

[Salty]

A large number of them are retirees. I would guess there are 50,000 people retiring in any given week. This will only accelerate as more and more baby boomers reach retirement age.

Lets see - Tom, an executive from company A retires - Company A hires Jim (1), a mid level executive from company B, - which in turn hires Susan(2), a low level executive from Company A. Company A hires Bill (3), an apprentice level employee form Company B. Company B hires Dana (4) a Vet from Company A and then Fred (5) a high school grad to fill Dana position.

One person retires - 5 positions are filled - really?
liers figures, figures never lie

 

[billwald]

Once you smarter than average Americans have destroyed the remaining unions and union states, the median wage will drop to ten bucks an hour and there will be plenty of sweat shop jobs because manufacturing will return to the US. The college loan problem will disappear because most 16 year old kids will be working full time to help the family pay the rent. 19th century, here we come.

 

[targus]

Once you smarter than average Americans have destroyed the remaining unions and union states, the median wage will drop to ten bucks an hour and there will be plenty of sweat shop jobs because manufacturing will return to the US.

That sounds like an admission that the unions destroyed the manufacturing sector in the U.S.