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We had 33 million participating in SNAP in 2009, we have 48 million participating in 2014. That means we have an average of 230,000 people each and every month are becoming the new poor, under this president.
733,000 fewer people unemployed, U3 drops by .4%. Whoopee!
Except.....
The civilian labor force decreased by 803,000 people. 803,000 people quit trying to find work. When you quit trying, you are no longer "unemployed." We actually have ~73,000 fewer people working than we did last month according to the BLS household survey (source: http://www.bls.gov/web/empsit/cpseea01.pdf )
According the above linked data table, we have 3 million more people employed than we did a decade ago. Sounds good until you consider that we have 24 MILLION MORE PEOPLE OVER AGE 16!
24 million people have hopped in the boat but in the last decade but only 3 million of them are currently rowing. No wonder those of us who have been rowing the whole time are getting tired.
733,000 fewer people unemployed, U1 drops by .4%. Whoopee!
Except.....
The civilian labor force decreased by 803,000 people. 803,000 people quit trying to find work. When you quit trying, you are no longer "unemployed." We actually have ~73,000 fewer people working than we did last month according to the BLS household survey (source: http://www.bls.gov/web/empsit/cpseea01.pdf )
According the above linked data table, we have 3 million more people employed than we did a decade ago. Sounds good until you consider that we have 24 MILLION MORE PEOPLE OVER AGE 16!
24 million people have hopped in the boat but in the last decade but only 3 million of them are currently rowing. No wonder those of us who have been rowing the whole time are getting tired.
How many people 'hopped out of the boat' due to retirement?
I promise I will do this even if the results to not contradict the Dems sunshine, gumdrops and roses scenario. I'm actually just as keen to see the GOP fail as I am the Democrats. But everytime I see one of these, I do the same thing: Look at the real numbers. Everytime I see a post or a news article saying that we've recovered and just as good as ever, I actually want to believe it.
So what do we have today?
Labor Force Participation Rate
Percent or rate of working age Americans who are employed
Age 16 years and over
Zooming in on what's been happening lately:
So for the month of April, we dropped back down to 62.8% -- once again reaching a rock-bottom low not seen 1978. The thing that makes that number even uglier is the fact that in 1978, women were still largely on the sidelines of the United States labor force, artificially driving the LFPR down. Today, we have no such phenomenon.
What you're talking about is new jobless claims, and that doesn't tell you anything about the overall picture. Sadly, the overall picture is still pretty bleak.
Care to look at numbers running out of unemployment and counted now in who have dropped out? Or is your basis that the FED is wrong on the unemployment problem. Why would a administration who believe this also want to extent unemployment longer? Is the reality that they should be saying we have added more to part time employment rolls and increased welfare numbers by our polices intentionally.
Ages 16 to 19 went from a 51.3% participation rate in 1992 to an astounding 34.3% in 2012. Projections are for that number to continue to plummet. All age groups from 20 to 54 years old are also down. Meanwhile, your 55 and older crowd are staying in the workforce and not retiring. In 1992, only 29.7% of your 55 and over crowd were in the workforce. Now 40.5% of them are, and that number is projected to continue to skyrocket. And the older the age demographic, the sharper the increase in their participation rate in the labor force.
Your losses aren't from old people retiring, they're coming from more of your traditional working aged Americans -- 16 to 55 years old -- not having jobs anymore.
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