Payrolls in U.S. Rose 217,000 in May, Unemployment 6.3% (Reagan, Clinton, politicians)
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The Labor Force Participation Rate was 58.6% in 1948.
It didn't even go over 62% until 1977.
Look at the historical data in your above link, by setting years from 1948 - 2014.
You seem to think you've scored a point. The labor participation rate is the lowest that it's been in 35 years. What's more, it's kind of a non sequitur on your part to bring 1948 into the picture, chiefly because that was before the age of the two-income households.
Look, I realize that you'll do or say anything to keep up the happy talk, but the truth is that a lower percentage of Americans have jobs than in more than a generation. What's more, the people who are dropping out of the labor force are not older Americans retiring, as the pat explanation would go, but the people who are still in the prime of their lives.
You seem to think you've scored a point. The labor participation rate is the lowest that it's been in 35 years. What's more, it's kind of a non sequitur on your part to bring 1948 into the picture, chiefly because that was before the age of the two-income households.
Look, I realize that you'll do or say anything to keep up the happy talk, but the truth is that a lower percentage of Americans have jobs than in more than a generation. What's more, the people who are dropping out of the labor force are not older Americans retiring, as the pat explanation would go, but the people who are still in the prime of their lives.
Older Americans still make up the largest segment of those not participating in the labor force. The LFPR will not be returning to previous highs anytime soon because of the demographic changes occurring in the U.S. population. What we are seeing in the LFPR rate was predicted decades ago, before anyone could possibly know the condition of the economy.
I know that. I saw it firsthand in the mid 90's when tech started to get off shored.
Engineers losing their jobs to other countries while companies cried to government that there weren't enough tech workers in the US.
And no one cared.
And just what is "appropriate education and skills" today ?
What industry is safe from offshoring ? Usually those that require a physical presence. And those jobs are now being replaced slowly with automation.
Most young people with engineering degrees are doing just fine. " Mature" employees at the top of their salary grades are more likely to be offered early retirement. They are replaced with younger people at entry level salary grade or consultants.
Those in healthcare fields seem do be doing reasonably well, too.
Liberal Arts, not so much.
Those willing to relocate to where the jobs are in their field seem to be faring better than those who want to stay put.
Yet the MSM and government keep the happy face on telling us everything is fine.
Nothing is "broke" per say.
The expectation is that we are going to recover to post 2007 levels and shoot up from there.
This recession was different thought. Companies didn't furlough and lay off until the recession was over.
They moved mfg and hired workers in countries that are growing and have a middle class to buy their goods.
Globalism overshadowed this recovery big time.
People have too much debt for us to have yet another "jobless recovery".
And many refuse to even consider that America is in decline and we'll need to adjust our expectations.
Globalism was and remains inevitable.
I think replacing humans with machines has and will continue to have a greater impact going forward. 15% of all middle class U.S. manufacturing jobs were eliminated between 2000-2010 due to technology.
The last time we had sustained job growth this good Clinton was President. This is literally better than anything we saw under GWB but I'm sure the RWNJs will continue lying and dissembling. They always do.
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<sarcasm>
