Record 1.2 Million People Fall Out Of Labor Force In One Month, Labor Force Participation Rate Tumbles To Fresh 30 Year Low
Now I know Zerohedge is not a solid news source, but other sites carry the same headline. I just picked this because it does have graphs, presumably from Bloomberg.
My questions:
Are people really being honest with themselves when only half the story is being told? Yes the unemployment is down, but isn’t that really because so many of us are actually just falling off the rolls? Are people really going believe the job market is really doing this good? Seriously?
How much longer can this go on before all hell breaks loose, and people begin to see the truth, assuming the above info is correct?
This just gives something for Obama to point a finger at. That’s all he wants. I just wonder how this will be twisted to be a positive for the president when he was pleading for the necessity of economic stimulus to congress a few months ago and they were being “reckless obstructionists”.
This. OP, do you dispute that our population is aging, and thus a steadily greater percentage of workers will start to drop out of the workforce due to this?
Interesting, I didn’t consider that. That would make sense, as the boomers are starting to retire.
Old column
This is first one that came up in Google, I have no ulterior motive here, just curiousity.
but it does say, on average, approximately 10,000 would retire each day. Assuming that is correct - 300,000 retired in January, so that leaves 900,000.
Assuming these are averages and accurate, that still seems high. I wonder how many are retiring before they want to? Or, it’s entirely possible that a higher than average number retired.
I have no doubt that the recession has forced out some retirees who would have otherwise worked for a few more years. My parents are 10 years apart and my Dad chose to stay employed an extra few years to retire closer to my Mom. I’m sure there are people out there, who in a perfect world would have wanted to do something similar and were not able. I’m just saying that that is a far cry from an active disinformation campaign.
These numbers are also gathered in a different way than unemployment numbers. If you want a job you can’t really “fall off the rolls” for unemployment numbers.
The second link is more truthful. The first is a pretty bad spin. I’m too lazy to calculate it, but if we were to add in discouraged workers, I wonder what the “true” unemployment rate would be?
If you stop looking for a job and haven’t looked for one in, iirc, a year, you’re considered a discouraged worker and aren’t counted as being unemployed.
The first link is more truthful. The second is pretty bad spin. I’m too lazy to figure out a reason why this is so, so you’ll just have to take my word for it.
Pretty easy, huh? Why should we just take your word for it? If you are indeed too lazy, perhaps you should take this to MPSIMS. I for one do not know which of the dueling links is more accurate, but I do know if I were to give an opinion I would try to back it up.
You’re too lazy to look up the U-6 unemployment rate? It’s 15.1% a full percent lower than it was 3 months ago, and the lowest since Feb 2009 (sound familiar?)