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Actually, the labor force has increased by 2,119,000 (1.35%) since November of 2015. It's amazing how many people have failed to notice that.
The size of the labor force has increased because of population growth, but the percentage of working age adults who are in it has gone up very little.
There's plenty of jobs out there just people don't want them. Fast food, retail, factory/warehouse etc.. I see help wanted signs everywhere all the time. I'm getting into truck driving and there is always a need for drivers.
Explaining the consistent increase in those leaving the labor force is complicated, with factors divided between an aging and rapidly retiring workforce, a skills gap that leaves job openings unfilled, and the nettlesome problem of too many people who find it's just easier to collect welfare and other transfer payments rather than go back to work.
The U-6 dropped from 9.5 to 9.3. The U-3 dropped from 4.9 to 4.6. That statement is false
I always question these stats....Of course they are likely seasonal due to the holidays.
The (seasonally adjusted) unemployment rate has been declining for years, it must be the longest holiday season ever.
Quote:
Originally Posted by JanND
I know from my own son that when unemployment runs out, that person is no longer counted in the total of unemployed Americans.
You don't know, because it isn't true. Whether someone is receiving unemployment benefits has absolutely zero to do with whether they are counted as unemployed, yet this claim is repeated enough that people believe it and forever continue the feedback loop of false information.
If your son has actively looked for work in the past four weeks but still has no job he's counted as unemployed in that 4.6% number you see in the headlines.
Many, many people left the workforce/job seeking/unemployment rosters to make you so happy with the new 'so-called' unemployment rate, OP. 178,000 'new jobs' (of what quality, of what permanency, of what status - full or part-time, etc.?) is not the whole story at all. You can wave to the unemployed as you drive down the street at all times of the day or night around these parts - more and more every day are not working .. it is not just about the 'new jobs created' - there is much more to the equation.
Apologists claim the increased number of Americans dropping out of the labor force is due to Boomers retiring, but that data doesn't support the claim. In fact, just the opposite, Boomers are increasing their presence in the labor force.
LNU01300097 Labor Force Participation Rate 65+ Years
The same holds true for the 55-59 Years group which has increased from 69.3% in 2000 to 71.5% in 2016 and the 60-64 Year age group, increasing from 47.5% to 61.3% over the same time period.
No matter how you look at it, older people are staying in the work force longer.
So who dropped out of the Labor Force?
Mostly the 16-24 year old and 25-54 year old crowds. We can see that here:
LNU01324887 Labor Force Participation Rate 16-24 Years
The bottom line is that 13,881,835 fewer Americans are working now than in Year 2000.
Add that to the 7+ Million that are unemployed, and the unemployed becomes 20+ Million, so you can see where some people might claim the real unemployment rate is ~12.5%
No I think that you are talking apples and oranges the real unemployment rate is not 12.5%.
This is where you have gone astray in order to be unemployed you have to be actively seeking employment.
The ( Underclass) are those who are not actively seeking employment , and have increased over the last decade.
You can wave to the unemployed as you drive down the street at all times of the day or night around these parts - more and more every day are not working
Well there you go, you've one upped the usual poster who knows a few friends/relatives that can't find work and believes the true employment situation across this country can be derived from that personal observation.
You've expanded the sample set to "around these parts" so we're all good, statistical science has been achieved. We can toss all those national surveys by statisticians out the window because Aery11 has noticed that more and over every day are not working.
Quote:
Originally Posted by johnsmith5a
And 100,000+ of those "jobs" were pizza delivery jobs, uber jobs, janitors, etc.. basically junk.
I'm going to go out on a limb and guess that you have no idea how many of those jobs were junk jobs that you describe, and you're saying this because you have heard other people say it in the past regardless of the makeup of jobs added.
Quote:
Originally Posted by mysticaltyger
The size of the labor force has increased because of population growth, but the percentage of working age adults who are in it has gone up very little.
The US population increases at a rate of 1.35% since November 2015? I think US population growth rate is about half that.
Many, many people left the workforce/job seeking/unemployment rosters to make you so happy with the new 'so-called' unemployment rate, OP. 178,000 'new jobs' (of what quality, of what permanency, of what status - full or part-time, etc.?) is not the whole story at all. You can wave to the unemployed as you drive down the street at all times of the day or night around these parts - more and more every day are not working .. it is not just about the 'new jobs created' - there is much more to the equation.
Where do you live? That plays a key role. Urban areas are booming.
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