Conservatives Spin Great Job Numbers Into Really Bad News
Labor Force Participation Remains at 36-Year Low
It goes on to say:
The participation rate, which is the percentage of the civilian noninstitutional population who participated in the labor force by either having a job during the month or actively seeking one, was 62.8 percent in November which matches the percentage since March 1978.
Of course, there could be many reasons for a low labor force participation rate, not the least of which are aging baby boomers, a large segment of the population, who are no longer working. Additionally, this a cyclical result of the recession and near-depression we had in 2008. That’s when participation rate began its drop, and it’s going to take some time to regenerate. Nevertheless, while we now have the best for jobs since 1999, there is a big cloud in that silver lining, the one the right is desperate to find anytime there is good news out of the White House.
Copyright 2014 Liberaland
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tiredoftea December 5th, 2014 at 19:45
Some of the number is due to the ACA. Many people worked to retain their employer based health insurance. Now, they can either retire early, start their own business or cut back their working hours to do other things, like volunteering.
A lower labor force participation rate is not necessarily a bad thing. Except for the long term unemployed who are now counted among the discouraged worker category.
SteveD December 6th, 2014 at 03:22
“Some of the number..”
Remember when the media went wild with stories like “the ACA is going to cost us 2 million jobs!!!” instead of your “Obamacare is going to open up 2 million job positions to younger workers?”
Tim Coolio December 5th, 2014 at 22:55
I’m willing to bet once the new congress is sworn in
those on the right will immediately claim “their”
policies are the reason for any good economic news,
just like after Bush left us on the edge of financial
meltdown, every time some bad economic news comes, they
claim it’s because of dems taking congress in 2006!
Tim Coolio December 5th, 2014 at 23:55
I’m willing to bet once the new congress is sworn in
those on the right will immediately claim “their”
policies are the reason for any good economic news,
just like after Bush left us on the edge of financial
meltdown, every time some bad economic news comes, they
claim it’s because of dems taking congress in 2006!
SteveD December 6th, 2014 at 02:14
“2008. That’s when participation rate began its drop, and it’s going to take some time to regenerate….”
Maybe not.
“…the LFP rate is projected to reach 58.5 percent in 2050, an LFP rate lower than what it was in the early 1960s, when the rate began its steady increase.
The BLS lists the following factors as primary drivers of the decline in the LFP rate since 2000: (1) the aging of the baby boomer cohort; (2) the decline in the participation rate of those 16-24 years old; (3) the declining LFP rate of women (since its peak in 1999), and (4) the continuous decline of the LFP rate of men (since the 1940s). The main factors that keep the aggregate LFP rate from falling further are the increase of the LFP rate of those 55 and older and the strong attachment to the labor force of Hispanic and Asian people, who constitute the main share of the immigrant population.”
https://www.stlouisfed.org/publications/re/2013/d/images/labor_forcesmall.png
SteveD December 6th, 2014 at 03:14
“2008. That’s when participation rate began its drop, and it’s going to take some time to regenerate….”
Maybe not.
“…the LFP rate is projected to reach 58.5 percent in 2050, an LFP rate lower than what it was in the early 1960s, when the rate began its steady increase.
The BLS lists the following factors as primary drivers of the decline in the LFP rate since 2000: (1) the aging of the baby boomer cohort; (2) the decline in the participation rate of those 16-24 years old; (3) the declining LFP rate of women (since its peak in 1999), and (4) the continuous decline of the LFP rate of men (since the 1940s). The main factors that keep the aggregate LFP rate from falling further are the increase of the LFP rate of those 55 and older and the strong attachment to the labor force of Hispanic and Asian people, who constitute the main share of the immigrant population.”-St. Louis Fed
https://www.stlouisfed.org/publications/re/2013/d/images/labor_forcesmall.png
Red Eye Robot December 6th, 2014 at 10:41
In other great economic news, China surpassed the US as the worlds largest economy. (thats the same china that has more people earning under $1000 a year than the entire population of the US)
Red Eye Robot December 6th, 2014 at 11:41
In other great economic news, China surpassed the US as the worlds largest economy. (thats the same china that has more people earning under $1000 a year than the entire population of the US)
Tim Coolio December 13th, 2014 at 21:50
Recessions since 1950 and the party in power
when they started:
July 1953-May 1954 GOP
Aug 1957 -Apr 1958 GOP
Apr 1960 -Feb 1961 GOP
Dec 1969 -Nov 1970 GOP
Nov 1973 -Mar 1975 GOP
Jan 1980 -Jul 1080 Dem
Jul 1981 -Nov 1982 GOP
Jul 1990 -Mar 1991 GOP
Mar 2001 -Nov 2001 GOP
Dec 2007 -Jun 2009 GOP
Tim Coolio December 13th, 2014 at 22:50
Recessions since 1950 and the party in power
when they started:
July 1953-May 1954 GOP
Aug 1957 -Apr 1958 GOP
Apr 1960 -Feb 1961 GOP
Dec 1969 -Nov 1970 GOP
Nov 1973 -Mar 1975 GOP
Jan 1980 -Jul 1080 Dem
Jul 1981 -Nov 1982 GOP
Jul 1990 -Mar 1991 GOP
Mar 2001 -Nov 2001 GOP
Dec 2007 -Jun 2009 GOP