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Interestingly enough, most of the states with low labor force participation rates have republican governors.
Mississippi, Alabama, Florida....
I'll have to look into that. I live in Ohio and we have a Republican governor, but he is not a typical one - he expanded Medicaid under the ACA in particular and he is one of a few major GOP contenders (he hasn't confirmed yet that he is going to run) who said that the SCOTUS decision on gay marriage isn't an important political/government issue. We've had a lot of economic growth over the past 6 years here. I actually moved back to Ohio from down south based on the fact that there is a lack of an educated workforce in my neck of the woods for high paying positions and it was relatively easily for me to secure employment in my specific field of work. I've been impressed with how many job openings we have here.
I live in NW Ohio and manufacturing is a large industry in this area and I have really been surprised of the fact that practically all of the automotive and auto parts manufacturers are hiring like crazy. They pay very well.
There is so much uncertainty associated with Entitlements, Social Security and Medicare for the baby boom. Have you considered a part time job to preserve more of your 401k?
I may do that, but my expenses are very low. I can live on $12k a year.
Car paid off; house paid off; no credit card debt.
My RE taxes are relatively low for the area I live in..$4k/yr (most are more in the $10-18k range). That's my biggest expense!
I'll probably get bored, though, especially during the winter months..!
The overall labor participation rate peaked in 2000 and has been steadily declining since then and did so despite the housing bubble driving the economy and tax cuts. The female labor participation rate peaked in 1995 and has been declining for 20 years.
The labor participation rate declined 3 percentage points since the Global Great Recession. Appears economists generally agree that 2 points of this decline is attributed to the aging population.
The U.S. Labor participation rate remains higher than Germany, Japan and the UK although all three countries have experienced an increase in participation by females.
Given the aging population, the downward trend is not going to change no matter who sits the oval or hold the majority.
......................... thus the lowest labor participation rates SINCE 1977!
Liberals will never face the fact that Obama has been a terrible president. They just cannot seem to voice that uncomfortable reality.
Until Obama became president I never heard people discuss unemployment and tie it to the labor participation rate. It seems to me that the anti-Obama crowd just wanted to find a stat they could use to bash him.
I bet if we have a republican president and congress and unemployment continues trending lower but the labor participation rate continues trending lower we shall never hear of the labor participation rate again from republicans or conservatives.
Of course that's it, all during the whole GWBush presidency in which the labor participation rate declined, no one brought this stat up to discredit the unemployment rate during his term.
No matter who is President, the labor participation rate is expected to decline for the next 15years due to baby boomers retiring.
I'd pretty much guarantee a lot of those people would jump back into the labor force if they felt they had a credible chance of finding well-paying, secure employment.
My ninety year old father in law will not be returning to the labor force. Well, unless someone is willing to pay him for being retired.
Yep; I think you have to break it down further than just why. Some its lack of skill match; others person issues employers want to avoid because of increased liability and other just will not do what they are only qualified for. They also publish the number of job vacancy not being filled.
The overall labor participation rate peaked in 2000 and has been steadily declining since then and did so despite the housing bubble driving the economy and tax cuts. The female labor participation rate peaked in 1995 and has been declining for 20 years.
The labor participation rate declined 3 percentage points since the Global Great Recession. Appears economists generally agree that 2 points of this decline is attributed to the aging population.
The U.S. Labor participation rate remains higher than Germany, Japan and the UK although all three countries have experienced an increase in participation by females.
Given the aging population, the downward trend is not going to change no matter who sits the oval or hold the majority.
By 2022, the agency projects that 31.9% of those ages 65 to 74 will still be working. That compares with 20.4% of the same age bracket in the workforce in 2002 and 26.8% who were in the workforce in 2012.
55-to-64 year olds. In 2002, 61.9% of Americans in this age group were in the workforce, a number that increased to 64.5% in 2012. The 2022 projection is that 67.5% will remain in the workforce.
The share of 20- to 24-year-olds who were in the workforce stood at 76.4% in 2002, fell to 70.9% in 2012 and is projected to drop to 67.3% in 2022, which would be the lowest rate since 1969.
older adults were staying in the labor force longer and younger adults were staying out of it longer.
"Ali Meyer is a Multimedia Reporter with CNS News, covering economic issues that expose government waste, fraud and abuse which have appeared on outlets like the Drudge Report. Prior to CNSNews.com, she was an investigative reporter intern with the Heritage Foundation and Pacific Research Institute where her work appeared in publications like the San Francisco Examiner and on Heritage’s rapid-response blog, The Foundry."
Dear Ali -- nice twist on the news. Your numbers are a little misleading considering the huge number of folks in retirement...and as Boomers retire the numbers will go up. Go back to Heritage Foundation.
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