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Almost 17 years ago, BLS projected a persistent future decline in the labor force participation rate and attributed it to a variety of reasons, aging of population, more young adults attending college and more mothers staying staying home.
The other powerful factor is that Industrial robotics, technology substitution and lean manufacturing have separated productivity from job/ wage growth.
Wages are meaningless. It's all about purchasing power within the 4000+/- micro economies in the US.
Purchasing power is function of wages, inflation, and other factors. You can't say it's not meaningless. Obviously, purchasing power is a function of other factors such as the cost of labor to produce the goods we buy, which is affected by robotics. Wages is rather simple to keep track, but purchasing power is more difficult since it's a more complex variable. My point is that this is a growing problem and it seems to me that this administration, Republicans, and Democrats lack a solution for the growing problem you describe. What exactly are we to do with a large number of unemployed people?
Lets be realistic here. The economy is getting better, but there are still problems. For example, the unemployment rate is low, but it's low for the wrong reasons. The low unemployment is due to people retiring or dropping out of the work force. Ideally, low unemployment would occur due to job growth. A high job growth rate will result in more people being employed and a lower unemployed rate, which is what was happening before the housing bubble.
Another problem is wage growth. Historically, low unemployment will result in a strong wage growth. Employers compete for a smaller work force by providing higher wages. The wage growth is only 2.2, which is low compared to past wage growth.
I am not entirely convince that the economy is recovering at high speed like many Trump supporters claim, until I start to see high wage growth and low unemployment numbers that are not due to people retiring or people dropping out the work force. The numbers aren't bad, but they aren't great.
I'm giving Trump 4-6 more months to get something done. I want to see results not excuses.
The UE rate has dropped 2.9% while the LFPR rose 0.1%. For the last 4 years the UE rate has not been falling because of people dropping out of the labor force. If anything this is a strong signal about people reentering the labor force given the retirement rate of baby boomers.
The elites are torn over whether they want Trump to succeed or fail since their stock portfolios are doing so well.
My stock portfolio is doing well, although not out of the ordinary of the many good years in the last 8 years. The sooner Trump is out of office the better.
If you watched Trump's entire rally last night and not just clips, he still says the unemployment numbers are phony because of people no longer looking for jobs. He said the same thing when he was running and Obama was president.
Thank you for pointing out Trump's ignorance.
UE over the last 4 years has fallen with just a 0.1% change in the participation rate.
Climbing the mountain is real easy if one is flown by a helo straight to the top.
Trump has never climbed a mountain in his life, so he doesn't know the difference. And apparently, neither does the OP.
The problem that comes from starting at the top is staying there. It's all downhill from the top, and the top of the mountain is a mighty hard place to stay for very long. Mountaintops are always very prone to being struck by lightning.
What legislation has Trump passed that impacts the economy? What's that? None? Oh okay.
Interesting how Liberal types always point to legislation or some big act of govt intervention to make progress in the nation. Always must be through and by the govt.
Wall Street on the other hand views a leader like Trump as only a good thing. Taking govt out of business and reducing stifling regulations fired up growth in the business sector like we have not seen in many a year.
Obama was the first president in modern times to not achieve a 3% GDP growth figure during his time in office. Trump can manage 2.6% and that is with everyone in the deep state out to destroy him. Imagine what he could get done without these outside forces ready to wreck America just to eliminate Trump
Obama was the first president in modern times to not achieve a 3% GDP growth figure during his time in office.
Another lie. From the agency that calculates GDP:
https://www.bea.gov/iTable/iTable.cf...&isuri=1&903=1
GDP growth in selected quarters under Obama:
+3.2% in Q1 2015
+5.2% in Q3 2014
+4.6% in Q2 2014
+3.1% in Q3 2013
+4.0% in Q2 2013
... and so on, and so forth. It's amazing the way some people have to make up facts in order to support their beliefs.
Liberals ready to concede Trump is the greatest President in decades? Perhaps ever?
Even while reaping the benefits of an effective President, they will never admit that. They prefer poverty (for everyone but themselves) because it gives them "talking points" which they think they can blame on Republican policies. Never mind that the cities and states in the most trouble and with the weakest economies are run by Democrats.
Climbing the mountain is real easy if one is flown by a helo straight to the top.
Trump has never climbed a mountain in his life, so he doesn't know the difference. And apparently, neither does the OP.
The problem that comes from starting at the top is staying there. It's all downhill from the top, and the top of the mountain is a mighty hard place to stay for very long. Mountaintops are always very prone to being struck by lightning.
Is this post expected to be taken seriously?
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LOL
