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Author Topic: Labor Force Participation Rate Drops To 25 Year Low, At 64.5%  (Read 2013 times)

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Offline Chris_

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Labor Force Participation Rate Drops To 25 Year Low, At 64.5%
« on: November 05, 2010, 11:52:32 AM »
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The inverse silver lining to today's jobs report that will be lost in the shuffle of what is perceived as a good NFP (despite consistent initial jobless claims of around 450K, which means that either there is a massive data error, or the rate of job creation has somehow surged) is that labor force participation has now dropped to the lowest rate it has been since 1984, at 64.5%. Assuming a reversion to the long-term average participation rate of 66%, means that the civilian labor force is in reality 157.4 million as opposed to the disclosed 153.9 million, a delta of 3.5 million currently unaccounted for. Maybe someone can ask the president during his imminent press conference what happened to the unemployed population, which would have been 18.3 if this labor force delta was incorporated, resulting in an unemployment rate of 11.6%.
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Offline true_blood

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Re: Labor Force Participation Rate Drops To 25 Year Low, At 64.5%
« Reply #1 on: November 05, 2010, 08:02:58 PM »
Not good. :banghead:
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Offline Chris_

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Re: Labor Force Participation Rate Drops To 25 Year Low, At 64.5%
« Reply #2 on: November 05, 2010, 08:07:56 PM »
I'm guessing that spike in the middle of last year is all the temporary government workers.  I'm not good with numbers but if labor participation had remained constant, I think unemployment would be a whole lot higher than the 9.6 it is currently at.

I seem to remember from my history books that it took Reagan a while to recover from the effects of the previous administration and congress, but he still did.  I'm not seeing anything like that from the current crop of "leaders" we've been subjected to.
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Offline true_blood

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Re: Labor Force Participation Rate Drops To 25 Year Low, At 64.5%
« Reply #3 on: November 05, 2010, 08:44:37 PM »
Quote from: chris_ on November 05, 2010, 08:07:56 PM
I seem to remember from my history books that it took Reagan a while to recover from the effects of the previous administration and congress, but he still did.  I'm not seeing anything like that from the current crop of "leaders" we've been subjected to.
Yeah, I'm not expecting to see anything positive from these goons in office.
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Offline Chris_

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Re: Labor Force Participation Rate Drops To 25 Year Low, At 64.5%
« Reply #4 on: November 05, 2010, 08:50:07 PM »
Quote from: true_blood on November 05, 2010, 08:44:37 PM
Yeah, I'm not expecting to see anything positive from these goons in office.
Honestly, I'm ecstatic I have a job right now.  Things could be a whole lot worse for many more people, and this asshole would blame it on the guy that had the job before him.
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