Forbes - Unemployment is down because more people have left the workforce

[superpatriotman]

More people have given up on finding work and therefore are no longer counted as either working or unemployed. That's why the unemployment rate keeps dropping. It isn't the underlying strength of the economy that reaches all levels of society. The number of jobs might be keeping rough pace with the growth of the population, but that is it. There is no broad economic cheer.

That has implications for income inequality — fewer people working means less income and wealth — as well as long-term economic stability creating pressure on social safety nets, such as they are.

All this also helps explain the low rate of wage growth that has puzzled many pundits. Growing employment should drive up wages, but increases have been lukewarm at best. As the St. Louis Fed noted in 2015, wage growth has really been related to inflation and not what would be considered real wage growth. People make more but inflation, which keeps pace or even exceeds the wage growth, eats up any extra money.

More at link

https://www.forbes.com/sites/eriksherman/2018/05/05/sure-unemployment-went-down-because-the-number-of-people-working-did/?fbclid=IwAR1TCaGh9oF9r5xwRm4JOQuMYtLYxqCaP6WDojXgHPJtVtq0i7n1NH17vzI#4b276a5d408b

[struggle4progress]

1. "You know it's a great economy when people are too discouraged to look for work!"

[Hoyt]

2. That year old article conflicts with more current articles. Unless economy tanks, it's going to be

tough to bash trump on the economy.

He's done it no favors -- that's for sure -- but convincing people who were dumb enough to vote for him in 2016 will be tough.

Think we are better off running on other issues -- healthcare, bolstering social security, climate change, return to decency, improvement in global relations, etc.

https://www.washingtonpost.com/business/2019/01/10/once-sidelined-women-minorities-are-returning-labor-force/?utm_term=.9677581ddb33

[Sherman A1]

4. It may be but has anything really changed?

Any idea on workforce participation numbers?

[Hoyt]

9. My link answers your question about workforce participation rates.

[beachbum bob]

3. Baby boomers retiring at record rate now

[progree]

5. Several Labor Force Participation Rate and Employment To Population, by age

Last edited Sun May 5, 2019, 03:32 PM - Edit history (3)

Some statistics by age group
The ones beginning with "LNS" are seasonally adjusted (SA).
The ones beginning with "LNU" are not seasonally adjusted (NSA)
16+ is the default one that the BLS and the media report.
16+ means every civilian non-institutionalized person age 16 and over, including centenarians. So it is misleading -- the population is aging and there are about 10,000 boomer retirements a day (which comes to 3.6 million/year). That's why I show other age groups.

Age 25-54 is what the BLS calls the "prime age". It isn't contaminated by a lot of voluntary retirements.

By default, the graphs are 10 - 11 years, specifically they begin in the January of the year that was 10 years ago -- meaning in this case they begin January 2009 (which happens to be near the bottom of Great Recession job market -- well actually the job count fell for another 13 months to its lowest point in February 2010)

You might want to set the start date of the calendar back to, oh, whatever. 1989? 1979? 1969? In order to get a more historic view. 1989 is about when the rapid growth of female workforce participation began to level off

LFPR - Labor Force Participation Rate for some age groups
The LFPR is the Employed + jobless people who have looked for work in the last 4 weeks (and say they want a job and are able to take one if offered). All divided by the civilian non-institutional population age 16+.
16+: LNS11300000 NSA: LNU01300000
25-34 LNS11300089 NSA: LNU01300089
25-54: LNS11300060 NSA: LNU01300060
55+ LNS11324230 NSA: LNU01324230
65+ ---------------- NSA: LNU01300097

ETPR - Employment to Population Ratio for some age groups
16+ LNS12300000 NSA: LNU02300000
25-54 LNS12300060 NSA: LNU02300060
55+ LNS12324230 NSA: LNU02324230
65+ ---------------- NSA: LNU02300097

[spanone]

6. K&R...

[Wellstone ruled]

7. Or,as we here in the

Las Vegas Valley are aware of,most of our Teachers have a side Hustle,thousands are Dancer's at the Joint's or are Clerks at the Local Convenience store.


The under ground economy is crazy,cash is King and those who have given up on finding full time work that pays the bills,are out there hustling odd jobs that are cash only. Think about it. Cash for day labor is King in this town.

[superpatriotman]

8. Zero job security

Zero retirement or health benefits. That’s the Gig economy

[Wellstone ruled]

10. You got it,

but,there are tens of thousand who for one reason or not,can not pass the Pee Test and there for are unemployable.

Fact,I did a stent screening Job Applicants for a DIY Store for 6 months,97 out of 100 could not pass the mouth saliva swab test. Or,they could not pass a background test. When this company instituted a credit check policy as part of the Hiring process,that did it,I was done, having knowledge of the Local average Credit Score from one of my side jobs,our small city had one of the highest BK rates in the State. So many people damn well or more than qualified Applicants were dropped because of Corporate Policy and the new Credit check policy.

That Credit Check issues is the most egregious hiring tool ever. Tens of thousands of damn good workers are tossed in the trash because of a economic disaster that may or may be controlled by that person.