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The Bureau of Labor Statistics (BLS) notes that between 2004 and 2014 and 2024:
1. All labor force participation rate (16 y.o. and older) fell from 66% to 62.9% and is estimated to fall to 60.9% by 2024.
Now here is where it gets interesting…
2. For 55 y.o. and older, the rate increased from 36.2% to 40%, and is estimated to stay virtually unchanged by 2024.
3. For the 65 and older, the rate increased from 14.4% to 18.6 %, and is estimated to increase to 21.7% by 2014.
4. For 75 and older, the rate increased from 6.1% to 8.0%, and is estimated to increase further to 10.6 % by 2024.
When someone tells you the labor participation rate in the U.S. is lower because of baby-boomers retiring. Stop them, show them these facts and tell them the truth.
The labor participation rate is in fact declining in the 16 to 24, and 25 to 54 age groups for Americans in their early careers years and peak career years.
Williams’ unemployment observation is even more ridiculous. Why would any one put stock in the U-3 measure of unemployment in light of the fact that 102 million adult Americans are not employed and the labor market participation rate has fallen out of bed?
Last edited by yellowbelle; 02-20-2016 at 10:58 AM..
Reason: copyright - post only a few sentences and a link
Why would any one put stock in the U-3 measure of unemployment in light of the fact that 102 million adult Americans are not employed
Stopped reading the nonsense article you posted right there.
If author really needs to start off by using a scary number of people not working that includes retirees, home makers, people in prison, full time students, disabled, etc. then I'll just assume the rest of their piece is same bilge water.
i was an electrical wholesaler in to factory automation products , pump and motor repair , efficient lighting , custom control panel building , energy mgmt systems , etc.
we grew from a 6 million dollar company in 1998 to almost 100 million today making us one of long islands biggest employers .
i still say us even though i retired . i still do technical training for them 2x a month .
The Dust Bowl displaced more than 8.5 Million workers, who were forced into urban areas to look for jobs.
What % of the 20 something's and teens have jobs? It is realistically much higher than the published figure.
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