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Edited post to show the 3.9% unemployment rate. That means just about everyone who wants to work has a job.
Even those Millennials are having to come out of their parents basements to go to work.
Not exactly, so sorry to burst your little bubble.
The flip side is that labor participation rate continues to fall; *that* is not good. With each of these so called "MEGA* or whatever DT supporters want to call these reports the underlying truth still remains; both men and women who *should* be working are in numbers that continue to increase not counted.
There is the still persistent issue of stagnant wage growth in many job sectors. In others the issue is other way round; employers must continue to offer higher wages to attract a limited labor pool. Then you still have the fact this economy increasingly generates basically two types of employment; small numbers of highly compensated skilled jobs, versus a larger amount of low paid semi or unskilled.
So yes, if you want a job in a call center, picking, sorting, delivering and so forth packages for online sales, that there is plenty of; but even at $15/hr. minimum wage you'd be hard pressed to live on that alone.
Long story short the US economy has vastly changed since 1960's and even early 2000's where were the last time this country had such low unemployment rates. Worrying thing is not even experts in economics or whatever truly have figured out what is going on.
You forgot the 754,000 jobs that were lost in January.
Jobs are always lost from December to January. In the last 10 years, there was never a time when there weren't massive job losses, and it has to do in part with the fact that December is the most common month for retirement.
Quote:
Originally Posted by Mathguy
Yep, the CHANGE absolutely matters if comparing unemployment rates.
People referencing monthly or quarterly blips (note the graph spikes up and down) are pointing to meaningless noise as it's been hovering below 63% for the past 4 years or so.
However, in the 6 years before that it declined from 66% to 63%.
I don't think people of the mind that "it's only 3%."
It might not seem like much, but 3% is 4.6 Million jobs when measured against the current number of employed Americans and 7.7 Million jobs when measured against the potential labor force.
I would suggest it represents the total number of jobs permanently lost.
Quote:
Originally Posted by PilgrimsProgress
Maybe if employers stopped firing older workers there wouldn't be a shortage of skilled labor. Age discrimination is rampant.
I don't see any evidence of that.
There are 92,938,000 people age 55 and older, with 37,318,000 in the work-force and of those, and an incredible 36,269,000 are working.
No other age group is that successful in employment or even remotely close.
Of the 1,049,000 that are unemployed, 595,000 are age 60 and older, so only about 450,000 ages 55 to 59 are unemployed.
The unemployment rate for those age 55-59 is 2.8%, which is not only less than the federal average, it's less than any other age group.
Some Millennials don't want to work and don't need to if Mommy and Daddy give them a big enough allowance. No bills to pay for the most part. I blame the parents.
Jobs are always lost from December to January. In the last 10 years, there was never a time when there weren't massive job losses, and it has to do in part with the fact that December is the most common month for retirement.
Yes, that's true. It's also true that Feb-May *always* feature large (unadjusted) job gains, even in the worst of years. Which makes you advertising those unadjusted numbers rather pointless. There's a good reason why they have seasonal adjustments, and why those particular numbers are the ones they advertise.
The labor participation rate peaked in the late 90’s. The oldest Boomers began to turn 65 in 2011. 10,000 people are turning 65 each day and age out of the workforce, sooner or later. It has and will continue to be a long term trend.
I don't understand the meaning of this and it's repeated enough. More people are eligible to join the work force since the birth rate out weighs the death rate. So why would it matter that a smaller percentage is leaving the work force than entering it?
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Quote:
Originally Posted by Loveshiscountry
I don't understand the meaning of this and it's repeated enough. More people are eligible to join the work force since the birth rate out weighs the death rate. So why would it matter that a smaller percentage is leaving the work force than entering it?
Boomers at 75 million people make up the majority of the workforce.
" ... total fertility rates during the Baby Boom dramatically overestimated U.S. fertility, because they reflected the fact that some women were having babies at ages younger than had been the norm, while others were perhaps “catching up” on births that were postponed due to World War II. For example, the TFR in 1960 was 3.65, but women who entered their childbearing years around that time actually gave birth to about 2.45 children in their lifetimes, according to 1985 completed fertility."
"Can’t Gen X Pick Up the Slack?
Generation X spans those born between 1965 to 1980 and includes 65 million people. According to Pew Research, Gen X contributes nearly 53 million workers to the U.S. economy. That leaves a gap of 10 million workers to fill the Baby Boomer gap."
___________
Railroads in particular I've been reading for many years now that they have a wave of retiring baby boomers they're worried they might not be able to replace. In fact, I think I first started reading about that about a dozen years ago.
Trump won't be helping the matter any by scaring away immigrants.
Truimp is not scaring away immigrants. they arrrived by the tens of thosands each year, over a million a year actually.
Some Millennials don't want to work and don't need to if Mommy and Daddy give them a big enough allowance. No bills to pay for the most part. I blame the parents.
It's the illegals! It's the immigrants! It's millennials' parents.
There's a skills gap in this country.
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