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Shrinking work force as boomers age out, mostly. The denominator is getting smaller. Not that that is bad. It does mean we are going to need more births (or more likely more immigration) if we want to keep the economy going.
That's not how it works.
GDP is merely a reflection of the economy. It doesn't actually drive your economy.
Average monthly job growth: CPS = 439,000; CES = 422,000
Differences exist due to methodology.
The CPS is a survey of 60,000 households that agree to participate in the survey for 1 year, while the CES is a survey of 30,000 employers who agree to report data for an indefinite period.
A survey of 60K house holds indicate that 422K jobs were added
Shrinking work force as boomers age out, mostly. The denominator is getting smaller. Not that that is bad. It does mean we are going to need more births (or more likely more immigration) if we want to keep the economy going.
The new generation, the millennials, are larger than the retiring boomers, so how do you figure a larger generation replacing a smaller one should result in smaller workforce?
We have jobs open for over a year and couldn’t fill them. I guess we aren’t adding the jobs then.
There's been a persistent million or so skilled jobs that have have gone unfilled that has spanned both administration. We have a severe skills gap in this country, which is a reason why wage growth remains sluggish.
Services slowing down since we are long into the cycle. Manufacturing and related industries obviously continuing its downward spiral due to the trade war.
Month after month with these anemic numbers, and wage growth also slowed. Not good.
Even worse is the hit that those over 50 took in the two Bush recessions. Those over 50 are the last hired in any recovery. The all time high of 64.7% of the total population achieved in April of 2000 is the high water mark for the last 20 years. Here are the numbers: https://www.bls.gov/charts/employmen...tion-ratio.htm
Any claims made by this administration of this being the most robust economy ever is a lie as usual. I would say that many baby boomers were forced into retirement in 2008 when 700,000 were being laid off each month of that year. So that the facts are straight, Obama won the election of 2008 by 15 million votes.
Last edited by Tonyafd; 10-05-2019 at 09:54 AM..
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