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US population on Jan. 1st, 2015 was 320,289,069. On Dec. 31st, 2015 it was 322,755,353.
322,755,353 - 320,289,069 = 2,466,284
We're barely keeping up with population growth.
The highest the employment to population percentage has ever been is 64.7%. When the economy goes a year adding more jobs added than people, it's actually a very good year.
The highest the employment to population percentage has ever been is 64.7%. When the economy goes a year adding more jobs added than people, it's actually a very good year.
1.4 million people dropped out of the labor force during the same period. So, you add 2.65 million jobs at the same time you added 2.466 and 1.4 million people dropped out of the labor force (for whatever reason).
It would seem you're about 1.2 million short. You can add that to the 14 million you're short that you need to pay for your social safety noose.
1.4 million people dropped out of the labor force during the same period. So, you add 2.65 million jobs at the same time you added 2.466 and 1.4 million people dropped out of the labor force (for whatever reason). It would seem you're about 1.2 million short. You can add that to the 14 million you're short that you need to pay for your social safety noose.
"In December, 1.8 million persons were marginally attached to the labor force, down by 427,000 from
a year earlier. (The data are not seasonally adjusted.) These individuals were not in the labor force,
wanted and were available for work, and had looked for a job sometime in the prior 12 months. They
were not counted as unemployed because they had not searched for work in the 4 weeks preceding the
survey. (See table A-16.)
Among the marginally attached, there were 663,000 discouraged workers in December, little changed
from a year earlier. (The data are not seasonally adjusted.) Discouraged workers are persons not
currently looking for work because they believe no jobs are available for them. The remaining 1.2
million persons marginally attached to the labor force in December had not searched for work for
reasons such as school attendance or family responsibilities. (See table A-16.) " http://www.bls.gov/news.release/pdf/empsit.pdf
"In December, 1.8 million persons were marginally attached to the labor force, down by 427,000 from
a year earlier. (The data are not seasonally adjusted.) These individuals were not in the labor force,
wanted and were available for work, and had looked for a job sometime in the prior 12 months. They
were not counted as unemployed because they had not searched for work in the 4 weeks preceding the
survey. (See table A-16.)
Among the marginally attached, there were 663,000 discouraged workers in December, little changed
from a year earlier. (The data are not seasonally adjusted.) Discouraged workers are persons not
currently looking for work because they believe no jobs are available for them. The remaining 1.2
million persons marginally attached to the labor force in December had not searched for work for
reasons such as school attendance or family responsibilities. (See table A-16.) " http://www.bls.gov/news.release/pdf/empsit.pdf
So the 1.2 million that left the labor force for school or family (or whatever) didn't actually have jobs that needed to be filled once they left? Those jobs just disappeared when those people decided they were done (at least for now).
I think you're missing the point. So the economy "adds" 2.65 million jobs in 2015 but 1.8 left the labor force completely (for whatever reason) and the population increased 2.466 million.
That's 4.266 million people whose jobs disappeared or could not be fulfilled (barring the obvious percentage that was newly born or under the working age of course). If 1.6 million of those people were newborns and legal immigrants who are under the age all you did was tread water. That was the entire point that all the big brains seem to be missing in here.
So the 1.2 million that left the labor force for school or family (or whatever) didn't actually have jobs that needed to be filled once they left? Those jobs just disappeared when those people decided they were done (at least for now).
I think you're missing the point. So the economy "adds" 2.65 million jobs in 2015 but 1.8 left the labor force completely (for whatever reason) and the population increased 2.466 million.
That's 4.266 million people whose jobs disappeared or could not be fulfilled (barring the obvious percentage that was newly born or under the working age of course). If 1.6 million of those people were newborns and legal immigrants who are under the age all you did was tread water. That was the entire point that all the big brains seem to be missing in here.
The problem with your numbers are that you just 'guessed' how much of the population consisted of newborns, the actual number of births in 2014 was 3,985,924, an increase of 1% from 2013. If you make the assumption that births increased in 2015 by another 1%, you are left with a very small number and of those you still can't assume they are all working age adults.
So the 1.2 million that left the labor force for school or family (or whatever) didn't actually have jobs that needed to be filled once they left? Those jobs just disappeared when those people decided they were done (at least for now).
I think you're missing the point. So the economy "adds" 2.65 million jobs in 2015 but 1.8 left the labor force completely (for whatever reason) and the population increased 2.466 million.
That's 4.266 million people whose jobs disappeared or could not be fulfilled (barring the obvious percentage that was newly born or under the working age of course). If 1.6 million of those people were newborns and legal immigrants who are under the age all you did was tread water. That was the entire point that all the big brains seem to be missing in here.
LFPR should contain only working age adults and not children under 16 or even 18, period. Otherwise that 4.2 million number is entirely dishonest.
LFPR should contain only working age adults and not children under 16 or even 18, period. Otherwise that 4.2 million number is entirely dishonest.
He's cherry picking data, if you look closer you will find that:
Of the 4.2 million 3,985,924 were newborns.
Of the 1.8 million that 'left the workforce' 663,000 were discouraged workers The remaining 1.2 million persons marginally attached to the labor force in December had not searched for work for reasons such as school attendance or family responsibilities.
yes, a real measure in that it counts kids (16-18 and those in college ) and retired seniors, and somehow if they aren't working it means the economy sucks?
Sadly, the over 55 crowd is the only demographic that has seen any gains in LFPR since 2007. Everyone under 55 has lost. The LFPR can't exclude your over 55'ers because too many of them work -- a number that is rapidly increasing. No, I don't think that's a good sign for economic health.
If "less people have jobs" is meaningless to you, then how do you propose to measure the economic health of middle and lower class segments of society? With that attitude, the Unemployment Rate is likewise useless. (I agree, but for completely different reasons.) From what you're saying, 20% unemployment wouldn't tell us anything useful about economic health ... cuz it's just a bunch of people aren't working, right?
As I've pointed out repeatedly, the one group that can't be so easily dismissed -- 24 to 55 year olds -- have lost about 3% LFPR. They haven't gained it back. But I expect you'll tell me that's meaningless as well.
I'd imagine that 20 years from now, if 16-24 year olds regained 10% LFPR, that too would be meaningless.
He's cherry picking data, if you look closer you will find that:
Of the 4.2 million 3,985,924 were newborns.
Of the 1.8 million that 'left the workforce' 663,000 were discouraged workers The remaining 1.2 million persons marginally attached to the labor force in December had not searched for work for reasons such as school attendance or family responsibilities.
and the fact that 13,000 people in the usa TURN 18 EVERY DAY...thats 4.7 million people turn 18 within the USA yearly
meanwhile on 8000 turn 65 every day
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