Please register to participate in our discussions with 2 million other members - it's free and quick! Some forums can only be seen by registered members. After you create your account, you'll be able to customize options and access all our 15,000 new posts/day with fewer ads.
In before the "everyone has given up looking for work" excuse. Because nobody ever retires or dies or anything...
Actually, DOL stats show that unemployment and other benefits claims have remained elevated throughout the recovery and are only slightly under the threshold under which the economy is considered not to be adding enough jobs.
Obama is on the road to sealing his legacy as one of the greatest leaders in American history. Even Lincoln had his detractors but is now considered one of the greatest. 50 years from now Obama will be in the club with the greatest of the great, maybe even on our currency. Go Obama!
President Obama inherited the equivalent of what the new mayor of Hiroshima got in 1946. The radiation from the Cheney/ lil' Bush regime has a half life longer than 5 years. We're slowly getting to where we have to be, and thank God mcCain Palin weren't the winners back then...we'd be in 4 wars, the Dow would be at 5000, and belief in Evolution would be punishable by cafe drone attack.
2) The labor force participation rate is dropping and now at a record low of 63.5%. That means that fewer people are even in the workforce and actively looking for work, artificially lowering the unemployment rate.
How much of the low labor force participation rate is the economy and how much is demographics? We have a ton of baby boomers reaching retirement age, so even in a strong economy it seems likely that we would have a lower than normal participation rate.
Baby boomers, the generation born between 1946 and 1964, started reaching the conventional retirement age, 65, last year. That would certainly have many of them leaving their jobs and heading toward the doors. It’s their exit from the labor force that could explain why the labor-force participation rate has fallen from 66% at the end of 2007 to near 63.9% today, a group of Barclays Capital economists argue in a new report.
Quote:
According to the report, just a third of the drop in labor force participation came from those who still wanted a job—and only 15% of those folks are of prime working age, 25 to 54. So, the economists see “the possibility of a large and sudden return of previously discouraged job seekers to the labor force as remote.”
Oh boy! The best month of Obama's administration is now up there with the worst month of Bush's. Now there's hope and change for ya!
Please register to post and access all features of our very popular forum. It is free and quick. Over $68,000 in prizes has already been given out to active posters on our forum. Additional giveaways are planned.
Detailed information about all U.S. cities, counties, and zip codes on our site: City-data.com.
Please register to participate in our discussions with 2 million other members - it's free and quick! Some forums can only be seen by registered members. After you create your account, you'll be able to customize options and access all our 15,000 new posts/day with fewer ads.
