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Old 02-06-2012, 11:36 AM
 
Location: San Diego, CA
10,582 posts, read 9,756,582 times
Reputation: 4172

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What percent of population over age 16, is actually working or looking for work?


The Bureau of Labor Statistics keeps track of the "Labor Force Participation Rate", which answers that question.

If you have a job OR you are trying to get one, then you are in the Labor Force.

BTW, the "Unemployment Rate" isn't the percentage of the population that don't have jobs. It's the percentage of the Labor Force that don't have jobs.

So the "Unemployment Rate" can fall in two different ways: (1) Fewer people without jobs; or (2) More people without jobs, drop out and quit looking altogether.

Were you wondering how the Unemployment Rate managed to "fall" from 8.5% to 8.3%, even while the number of people without jobs ROSE by 849,000 people?

Easy! From Dec. 2011 to Jan. 2012, more people gave up looking altogether, and dropped out of the Labor Force.

Actually, MORE people lost jobs, not fewer. But so many of them gave up altogether, that little "Unemployment Rate" number went down, not up.

.

. . . . . . . . . . . . . US Labor Participation Force Rate, 2002 through Jan. 2012
http://data.bls.gov/generated_files/graphics/LNS11300000_143969_1328550783317.gif (broken link)
(Source: U.S. Govt Bureau of Labor Statistics: Bureau of Labor Statistics Data )

Notice that, right at the end from Dec. 2011 to Jan. 2012, more people dropped out of the Labor Force than at nearly any other time.

And the Obama administration is telling us that this is GOOD news... and that his policies are finally working!

(Actually, that last part is probably correct. His policies are "working", all right... and have been "working" since the day he took office, as the above graph shows!)
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Old 02-06-2012, 11:46 AM
 
Location: Sango, TN
24,869 posts, read 24,324,752 times
Reputation: 8672
Baby boomers are retiring at a rate of 6,000 to 10,000 per day.

Younger kids, jobs await.

Daily Number: Baby Boomers Retire - Pew Research Center
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Old 02-06-2012, 11:53 AM
 
Location: Southcentral Kansas
44,882 posts, read 33,185,768 times
Reputation: 4269
Quote:
Originally Posted by Little-Acorn View Post
What percent of population over age 16, is actually working or looking for work?


The Bureau of Labor Statistics keeps track of the "Labor Force Participation Rate", which answers that question.

If you have a job OR you are trying to get one, then you are in the Labor Force.

BTW, the "Unemployment Rate" isn't the percentage of the population that don't have jobs. It's the percentage of the Labor Force that don't have jobs.

So the "Unemployment Rate" can fall in two different ways: (1) Fewer people without jobs; or (2) More people without jobs, drop out and quit looking altogether.

Were you wondering how the Unemployment Rate managed to "fall" from 8.5% to 8.3%, even while the number of people without jobs ROSE by 849,000 people?

Easy! From Dec. 2011 to Jan. 2012, more people gave up looking altogether, and dropped out of the Labor Force.

Actually, MORE people lost jobs, not fewer. But so many of them gave up altogether, that little "Unemployment Rate" number went down, not up.

.

. . . . . . . . . . . . . US Labor Participation Force Rate, 2002 through Jan. 2012

(Source: U.S. Govt Bureau of Labor Statistics: Bureau of Labor Statistics Data )

Notice that, right at the end from Dec. 2011 to Jan. 2012, more people dropped out of the Labor Force than at nearly any other time.

And the Obama administration is telling us that this is GOOD news... and that his policies are finally working!

(Actually, that last part is probably correct. His policies are "working", all right... and have been "working" since the day he took office, as the above graph shows!)
The Obamas don't like to think about the numbers of those dropping out as being anything but good since that increases the numbers of people who have to depend on the government to live. Those who support the nanny state surely do like to see those numbers.
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Old 02-06-2012, 11:54 AM
 
Location: Great State of Texas
86,052 posts, read 84,253,512 times
Reputation: 27718
The Pew survey is just that..a survey.
I went to the SS site and cannot find any monthly stats...there's SSI monthly stats but not SS monthly stats of beneficiaries.
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Old 02-06-2012, 12:00 PM
 
Location: Southcentral Kansas
44,882 posts, read 33,185,768 times
Reputation: 4269
Quote:
Originally Posted by Memphis1979 View Post
Baby boomers are retiring at a rate of 6,000 to 10,000 per day.

Younger kids, jobs await.

Daily Number: Baby Boomers Retire - Pew Research Center
I read your link and find that your comment about younger kids seems to be yours, alone, since we all know that those younger kids have to wait for the workers who move into Boomers' jobs get there. It is those lower jobs that the younger ones will get to fill if they even get jobs. We all know that too many of our employers are letting attrition take care of job cutting for them.
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Old 02-06-2012, 12:02 PM
 
Location: Washington, DC
4,321 posts, read 5,117,281 times
Reputation: 8272
You beat me to it Memphis, the OP's little secret is all the people who stopped looking for work at the end of December 2011. But he didn't think of retiring boomers... which would be another sign of an improving economy, with so many comfortable enough financially to retire.

And let's not automatically consider those that stopped looking for work (besides new retirees), as being hopelessly destitute people approaching homelessness. In multi-income households, sometimes you choose to work and sometimes you don't.
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Old 02-06-2012, 12:03 PM
 
Location: Sango, TN
24,869 posts, read 24,324,752 times
Reputation: 8672
Quote:
Originally Posted by roysoldboy View Post
I read your link and find that your comment about younger kids seems to be yours, alone, since we all know that those younger kids have to wait for the workers who move into Boomers' jobs get there. It is those lower jobs that the younger ones will get to fill if they even get jobs. We all know that too many of our employers are letting attrition take care of job cutting for them.
When someone retires, does that not mean there is usually a job opening?

What am I missing? Even if someone who isn't a kid moves up, it still creates a hole that needs to be filled at entry level.
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Old 02-06-2012, 12:05 PM
 
Location: Great State of Texas
86,052 posts, read 84,253,512 times
Reputation: 27718
So going by that Pew Research poll of 10K per day that would give 3.6 million per year. That's more than were born in 1947.

I went to the SS site and dug through a few of their annual statistic reports and found this
(retired workers only)

These are as of December 31 in each year. On average we have about 1 million retiring per year.
2009 there were 33 million
2010 there were 34 million
2011 there were 35 million

But this year..2012 we plan to have 3.6 million enter SS ?

Here's the SS site with statistical reports:

Research, Statistics, & Policy Analysis: Research and Analysis by Type

Now the boomers started turning 65 in 2011 (1946 + 65) and you'd think that Dec 2011 would have been a bigger spike then 2009 or 2010 but it wasn't. 1957 was the peak birth month (4.3 million births) so it should spike in 2022 (1957 + 65).

I don't like to 100% believe everything I read especially if it's not backed up with numbers.
And polls are just that..polls.

Last edited by HappyTexan; 02-06-2012 at 12:16 PM..
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Old 02-06-2012, 12:27 PM
 
Location: Portland, OR
9,855 posts, read 11,889,743 times
Reputation: 10027
Quote:
Originally Posted by Little-Acorn View Post
What percent of population over age 16, is actually working or looking for work?
The Bureau of Labor Statistics keeps track of the "Labor Force Participation Rate", which answers that question.
Hmmmm. Ok, that's your link, here's mine: link. Neither paint a pretty picture. Laying it on Obama is inspired at best. There are real people behind the numbers though. To you its a conservative talking point. To me, its the struggle to keep a roof.

H
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Old 02-06-2012, 12:29 PM
 
Location: Sango, TN
24,869 posts, read 24,324,752 times
Reputation: 8672
Quote:
Originally Posted by HappyTexan View Post
So going by that Pew Research poll of 10K per day that would give 3.6 million per year. That's more than were born in 1947.

I went to the SS site and dug through a few of their annual statistic reports and found this
(retired workers only)

These are as of December 31 in each year. On average we have about 1 million retiring per year.
2009 there were 33 million
2010 there were 34 million
2011 there were 35 million

But this year..2012 we plan to have 3.6 million enter SS ?

Here's the SS site with statistical reports:

Research, Statistics, & Policy Analysis: Research and Analysis by Type

Now the boomers started turning 65 in 2011 (1946 + 65) and you'd think that Dec 2011 would have been a bigger spike then 2009 or 2010 but it wasn't. 1957 was the peak birth month (4.3 million births) so it should spike in 2022 (1957 + 65).

I don't like to 100% believe everything I read especially if it's not backed up with numbers.
And polls are just that..polls.
Some won't retire, the SS numbers don't show the future story of boomers retiring, now. which is what the results I posted show.

If you re-read my post, I said between 6000 and 10,000 a day. Thats because AARP did a poll, and about 30% don't plan on retiring when they reach 65. So the number will fluctuate daily.

Still good news for young kids looking to get a job. Boomers hold a massive part of the work force right now. As they retire, its good for everyone who isn't a boomer.
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