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"That is, in nearly the four years, since President Obama took office in January 2009, only 827,000 people have been added to the labor force, while during that same time period, 8,208,000 have been added to those not in the labor force.
The chart [linked] relies on data available from the federal Bureau of Labor Statistics."
"That is, in nearly the four years, since President Obama took office in January 2009, only 827,000 people have been added to the labor force, while during that same time period, 8,208,000 have been added to those not in the labor force.
The chart [linked] relies on data available from the federal Bureau of Labor Statistics."
"That is, in nearly the four years, since President Obama took office in January 2009, only 827,000 people have been added to the labor force, while during that same time period, 8,208,000 have been added to those not in the labor force.
The chart [linked] relies on data available from the federal Bureau of Labor Statistics."
Succinct and easy to understand. That should be fun in tonight's debate.
"That is, in nearly the four years, since President Obama took office in January 2009, only 827,000 people have been added to the labor force, while during that same time period, 8,208,000 have been added to those not in the labor force.
I'm not sure what the point is.
Labor Force data comes from LNU01000000 Civilian Labor Force Level which stood at 153,455,000 January 2009 and is 155,075,000 at present.
That would be an increase of 1,620,000 people in the Labor Force -- meaning those are people who are working or [actively] looking for work.
The number alone means nothing. According to LNU00000000 Population Level you had 234,739,000 in the US 16 years of age and older in January 2009, and now there are 243,772,000 people.
(243,772,000 - 234,739,000) / 234,739,000 * 100 = 3.85% increase in population 16 years and older.
(155,075,000 - 153,455,000) / 153,455,000 * 100 = 1.06% increase in people available to work.
I don't know that those proportions are out of whack. You'd have to look at the percentage changes in working population versus labor force annually over a period of years and then in the aggregate to determine if something is wrong.
Understand that there is no Economic Law or Theory that says if your GDP increases X% that N number of jobs are created, just as if your GDP decreases X% that N number of jobs are lost, and just because the population increases X% that does not automatically translate into a increase of X% of the work force.
You have to understand that the number of people who ought to be working is determined by the Laws of Economics and not by someone's differently twisted fantasy of how many people should be working.
LNU05000000 Not in Labor Force was 81,293,000 in January 2009 and is now 88,697,000 so 7,404,000 have bowed out of the Labor Force in the last ~4 years.
Demographics is certainly at work here, since Boomers are retiring, so it's not like it's a big surprise.
Have people given up looking for work? I'm sure many have, not that it matters. Why? Because it is the Laws of Economics that determines how many people should be working and not The Boy King™ and not Mittens™.
When you go to the polls three weeks from now to vote, you're on a train-wreck, like the Cassandra Crossing.
If you want the train you're on to fall 1,000 feet into a gorge and then sink 500 feet to the bottom of the water, then vote for The Boy King™.
If you want the train you're on to just fall 1,000 feet into a gorge and then blow up, vote for Mittens™.
But make no mistake about it -- the train you're on is going to wreck and there's nothing you can do to stop it.
Demographically...
Mircea
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