Employment & Labor Force Participation

Discussion in 'Labor & Employment' started by waltky, Jan 9, 2016.

  1. waltky

    waltky Well-Known Member

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    37.2% not officially in labor force...
    :confusion:
    94,333,000 Not In Labor Force; Labor Force Participation 62.8%
    August 5, 2016 – 94,333,000 Americans were not in the labor force in July, a slightly better showing than June’s 94,517,000; and the labor force participation rate improved slightly, increasing a tenth of a point to 62.8 percent from June’s 62.7 percent, the Labor Department's Bureau of Labor Statistics reorted on Friday.
     
  2. Ndividual

    Ndividual Well-Known Member

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    When government assistance equates to more or even near the minimum wage why would any rational person choose to expend 2085 hours a year unnecessarily?
     
  3. waltky

    waltky Well-Known Member

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    School, Retirement and 'Safety Net' Explain 94,333,000 Not in Labor Force...
    :confusion:
    BLS Chief: School, Retirement and 'Safety Net' Explain 94,333,000 Not in Labor Force
    August 11, 2016 | Students and retirees are "an important part of what's going on" with the labor force participation rate, the head of the Labor Department's Bureau of Labor Statistics on Thursday.
     
  4. waltky

    waltky Well-Known Member

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    Recovery sputtering...
    :omg:
    94,184,000 Not In Labor Force; Labor Force Participation Rises; Unemployment Rate Ticks up to 5.0%
    October 7, 2016 | The Labor Department's Bureau of Labor Statistics shows an improving/mixed employment situation in September, in the numbers released Friday.
     
  5. OldManOnFire

    OldManOnFire Well-Known Member

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    Let's see...how about pride? How about working instead of welfare? How about working hard to be promoted to earn higher and higher wages? How about having a resume that shows work history instead of welfare history? How about paying FICA withholding for retirement and medical care and paying taxes to support the nation?

    To answer your statement in bold above...a rational person would choose to do more in their lives...
     
  6. OldManOnFire

    OldManOnFire Well-Known Member

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    For the past several years I have been asking myself what can possibly be the impetus in the USA that will create and sustain 5-10 million middle class paying jobs? And...I have not yet found the answer.

    A few of obvious hurtles;

    1. Millions of work-capable Americans live outside of the major employment centers.

    2. Millions of work-capable Americans do not possess the skills and/or education.

    3. Millions of Americans simply are no longer good worker material; illnesses, obesity, mobility, self-esteem, communications skills, and yes laziness.


    I don't know what all of the above 'millions' adds up to but it's a lot! Tens of millions of Americans that likely cannot obtain good middle-class paying jobs.

    Lastly, and this is actually hurtle #4, whatever products/services we can innovate in the USA, there needs to be an outlet to sell them. IMO Americans cannot consume themselves into economic prosperity. Therefore we need the global marketplace and exports. But in order to expand exports the USA must be competitive and this is proving more difficult every day. The iPhone is a huge design, manufacturing and revenue success, built I think 100% outside the USA, and it still costs us about $600! If in our wildest dreams it was ever possible to build the iPhone 100% in the USA, the cost would probably be $1000 or more. All this does is reduce the US sales, greatly reduce export sales, and encourage more competition...a lose-lose-lose scenario!

    No one wants to talk about this but US manufacturing needs some cost cutting and we need to greatly expand exports...short of this what else can possibly be the impetus to increase GDP by $2-3-5 trillion?
     
  7. waltky

    waltky Well-Known Member

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    Two opposing records set at the same time...
    :confusion:
    Record Number Employed: 152,085,000; But Record 95,055,000 Not in Labor Force
    December 2, 2016 | In the first jobs report since the election, the Labor Department says a record number of people--152,085,000--were employed in November in the United States, but a record 95,055,000 Americans were not in the labor force--446,000 more than October. The employment growth pushed the unemployment rate down from 4.9 percent in October to 4.6 percent in November.
    See also:

    Americans Unemployed for 15 Weeks or More: 2.9 Million
    December 2, 2016 – Although the unemployment rate dropped slightly in November to 4.6% -- the lowest it has been since August 2007, nine years ago – the number of American workers unemployed for 15 weeks or more was 2,933,000, according to the Bureau of Labor Statistics (BLS).
    Related:

    Real Unemployment: 9.3%
    December 2, 2016 – Although the “unemployment rate” in the United States for November is 4.6% -- a rate last reached 9 years ago in August 2007 – the “real unemployment” rate is much higher, more than double at 9.3% nationwide.
     
  8. OldManOnFire

    OldManOnFire Well-Known Member

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    The quantity of Americans capable of working but choosing to not be in the labor force in your graph shows a steady increase over the decades, however, it would be interesting to also know the population increase over this same time period? As a percentage, do we today have more or less work-capable Americans choosing to not be in the labor force?

    Trump is talking about 5% GDP growth, which we can assume might be about 7.6 million new jobs per year (minus automation) so one question is where will we find more workers for promised GDP growth?

    On a similar theme...how much GDP growth can we sustain when we arguably don't have enough qualified workers?

    Seems to me, if we truly could see 5% annual GDP growth, this would require a lot of outsourcing and green card workers and automation...
     
  9. waltky

    waltky Well-Known Member

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    Uncle Ferd not inna labor force `cause he can't find a job to his liking...
    :wink:
    Record 95,102,000 Americans Not in Labor Force; Number Grew 18% Since Obama Took Office in 2009
    January 6, 2017 | Barack Obama's presidency began with a record number of Americans not in the labor force, and it's ending the same way.
     
  10. waltky

    waltky Well-Known Member

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    Uncle Ferd wants one o' dem cushy gubmint jobs ya can't get fired from...
    :wink:
    Manufacturing Jobs Declined by 45,000 in 2016; Government Jobs Increased by 183,000--Now Outnumber Manufacturing by 9,948,000
    January 6, 2017 | Jobs in manufacturing in the United States increased by 17,000 in December—the first post-election month—climbing from 12,258,000 in November to 12,275,000 in December, according to data released today by the Bureau of Labor Statistics.
    See also:

    Real Unemployment 9.3%
    January 6, 2017 | Although the national unemployment rate for December was 4.7%, the real or total unemplyment rate -- people who work part-time because of the economy and other marginally attached workers -- was 9.2%, according to the Bureau of Labor Statistics (BLS). The last time it was as low as 9.2% was in April 2008, more than eight years ago.
    Related:

    White Unemployment, 4.3% -- Black Unemployment, 7.8% -- Asian Unemployment, 2.6%
    January 6, 2017 | Among Whites, Blacks, Hispanics, and Asians, Black workers had the highest unemployment rate in December, 7.8%, according to the Bureau of Labor Statistics (BLS). Asians had the lowest at 2.6%.
     
  11. OldManOnFire

    OldManOnFire Well-Known Member

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    95 million not in labor force plus ~150 million who are working equals 245 million Americans who are capable of working. If we divide 95 by 245 we get 39% which supports the labor force numbers but also tells us 39% of work capable Americans don't work. These same 39% are not paying FICA or state and federal income taxes yet making enormous demands on all levels of government...
     
  12. OldManOnFire

    OldManOnFire Well-Known Member

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    Using the same numbers as in Post #36...approximately 40% of work capable Americans are unemployed. IMO most all of these 40% will gladly accept a job if it was the right job for the right compensation. However, many of these 40% will never, in their minds, find the right job for the right pay so they learn how to survive from friends and family, to government welfare, to cottage businesses, to cash under the table work, to homelessness.

    It's little surprise why the cost of government is so high and continues to climb...
     
  13. waltky

    waltky Well-Known Member

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    Unemployment rate down, not counting discouraged workers...
    [​IMG]
    Record 153,513,000 Employed in July; 62.9% Labor Force Participation
    August 4, 2017 | President Trump was awake early on this "employment report" Friday, tweeting about jobs, regulation-busting, and consumer confidence, among other things.
    See also:

    Black Unemployment Rate Nearly Lowest It's Been Since 2000
    August 4, 2017 | Although the national unemployment rate for July was 4.3%, the unemployment rate for black workers was nearly double that of white workers, but it was also at a rate for blacks not seen since December 2000, according to data from the Bureau of Labor Statistics (BLS).
    Related:

    Unemployment Plummets in Detroit Metro (3.7%)—Beating L.A. (4.3%), New York (4.3%) and Boston (4.0%)
    August 2, 2017 | The unemployment rate plummeted in the Detroit metropolitan area over the past year, dropping more in the period from June 2016 to June 2017 than in any other large metropolitan area in the United States, according to data released today by the Bureau of Labor Statistics.
     
    Last edited: Aug 5, 2017
  14. Old Man Fred

    Old Man Fred Well-Known Member

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    Labor force participation isn't that big of a deal if you actually know what child care costs.
     
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  15. gamewell45

    gamewell45 Well-Known Member Past Donor

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    That may be your opinion, but obviously not the opinion of many out of work Americans; working hard doesn't always equate to promotions and higher wages.
     
  16. Old Man Fred

    Old Man Fred Well-Known Member

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    Have you ever witnessed hard work not being rewarded?

    My inlaws are showing up tomorrow and replacing part of my sewer line was getting down to the wire. Guy showed up yesterday to finish digging the tunnel-with his 13 and 8 year old sons, and finished up because he knew I was in a bind.

    Guess who got $100 on top of his wages?
     
  17. gamewell45

    gamewell45 Well-Known Member Past Donor

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    To answer your question; Yes I have witnessed hard work not being rewarded.
     
  18. Old Man Fred

    Old Man Fred Well-Known Member

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    I'm sorry you had to grow up and/or visit a socialist country
     
  19. OldManOnFire

    OldManOnFire Well-Known Member

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    Doesn't matter...if a person desires a job, or to obtain a better job, each person is 100% responsible to find the remedy. We supposedly have 12 million illegals in the USA today who some say are taking American's jobs...please explain how is it possible that 12 million Americans are incapable of competing for these jobs against illegals? What's so difficult creating small businesses as an option to being an employee? If communities do not present a job to someone isn't it time to move? Or obtain new skills and/or education? Lastly, think about what you said above; working hard doesn't equate to promotions and higher wages?? So no need to work hard...
     
  20. gamewell45

    gamewell45 Well-Known Member Past Donor

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    Your apology is accepted.
     
  21. gamewell45

    gamewell45 Well-Known Member Past Donor

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    In a Utopian world, I'd agree; unfortunately that's not how the real world operates and if you refuse to acknowledge that, your only fooling yourself.
     
  22. OldManOnFire

    OldManOnFire Well-Known Member

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    Sorry but I worked almost 40 years in my career, and own a business today, so I think I understand how the real world operates...
     
  23. gamewell45

    gamewell45 Well-Known Member Past Donor

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    You were one of the lucky one's; not everyone is fortunate enough to enjoy the experience as you apparently did.
     
  24. OldManOnFire

    OldManOnFire Well-Known Member

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    Each person makes 100% of the decisions about their careers and lifestyles. Anyone who does not like the status quo simply needs to take personal actions to change it. And, this does not imply it's easy but no matter it is 100% the responsibility of each person...
     
  25. Old Man Fred

    Old Man Fred Well-Known Member

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    Hopefully you're in America now and can enjoy the bountiful prosperity capitalism offers.
     

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