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Thread: Four-fifths of the reduction in unemployment has been adults not looking for work

  1. #1

    Four-fifths of the reduction in unemployment has been adults not looking for work

    "In the weakest recovery since the Great Depression, more than four-fifths of the reduction in unemployment has been accomplished by a dropping adult labor force participation rate — essentially persuading adults they don't need a job, or the job they could find is not worth having," said University of Maryland economist Peter Morici.
    http://www.cnbc.com/id/47292128

    And.... GO! Just not to work.

  2. #2
    Intellectual Patriot
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    If you have nothing and you are offered something, it is worth having. A job not worth having is a matter of ego. I had an individual scream at me for 10 minutes one day because he had a PHD and was shoveling mulch for a living because that is all he could find. He probably thought I was being flip when I said I respected that he would do that. He hung up on me after that, but he was doing the job he could find. Not just giving up. If I had to I would work at flipping burgers or digging ditches to pay the bills. Too many choose to stay unemployed. Yeah, I said choose.
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  3. #3
    The Tech Support Guy
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    Well it is not on fox so I guess it must be true. Does not matter it is the pubs fault.

  4. #4
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    Quote Originally Posted by Huskermedic View Post
    Well it is not on fox so I guess it must be true. Does not matter it is the pubs fault.
    you said it not me.

  5. #5
    The Tech Support Guy
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    Quote Originally Posted by Squatchsker View Post
    If you have nothing and you are offered something, it is worth having. A job not worth having is a matter of ego. I had an individual scream at me for 10 minutes one day because he had a PHD and was shoveling mulch for a living because that is all he could find. He probably thought I was being flip when I said I respected that he would do that. He hung up on me after that, but he was doing the job he could find. Not just giving up. If I had to I would work at flipping burgers or digging ditches to pay the bills. Too many choose to stay unemployed. Yeah, I said choose.
    For sure! I have been there and done that. At one point I was working 3 jobs to pay the bills until I could get out of school and do what I wanted.

  6. #6
    Persistent unemployment has definitely been the biggest problem this economy faces. The work force participation rate is definitely a valid thing to look at in considering whether declines in the unemployment rate are illusory or signs of genuine improvement.
    "The distinctive mark of the Christian, today more than ever, must be love for the poor, the weak, the suffering." Pope John Paul II


  7. #7
    Quote Originally Posted by Huskermedic View Post
    Well it is not on fox so I guess it must be true. Does not matter it is the pubs fault.
    Not sure from where this comes. I suppose because the pubs have been in charge for the past 3.5 years? That's probably it.

  8. #8
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    Anyone have any numbers on how many baby boomers are retiring on a daily basis? I have heard/read that it's something like 10K per day. Of course this could be kind of forced retirement due to a weak job market but that could go along way to explaining the poor labor participation numbers and slowly falling unemployment number despite the pathetic job growth.
    The trouble with weather forecasting is that it's right too often for us to ignore it and wrong too often for us to rely on it. ~Patrick Young

  9. #9
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    I just wish we could get true numbers, no seasonal adjustments, no proclaimed "not able to work" adjustments, just the straight numbers. It seems like all we do is make "adjustments" to show we are creating jobs. To me this is just as bad as milking the books in some sort of stock scheme.

  10. #10
    Quote Originally Posted by Big Red Rick View Post
    Not sure from where this comes. I suppose because the pubs have been in charge for the past 3.5 years? That's probably it.
    You should check your sarcasm meter. He was agreeing with you.
    "The distinctive mark of the Christian, today more than ever, must be love for the poor, the weak, the suffering." Pope John Paul II


  11. #11
    Quote Originally Posted by ShuckIt View Post
    I just wish we could get true numbers, no seasonal adjustments, no proclaimed "not able to work" adjustments, just the straight numbers. It seems like all we do is make "adjustments" to show we are creating jobs. To me this is just as bad as milking the books in some sort of stock scheme.
    Well, there are legitimate differences of opinion as to what the "true numbers" are. The official number was arrived at because it represented the economists' consensus of the most accurate and least misleading measure of employment in America. To compare this official number with some sort of accounting scheme is completely misplaced: the Bureau of Labor Statistics releases five other measures of unemployment that take all of these other figures into account as well. The data is all there for anyone who wants to look at it.

    What makes this sustained period of unemployment different from past episodes is that there are a lot more people leaving the workforce altogether, probably in large part because many of them are aging baby boomers as skernado said.
    "The distinctive mark of the Christian, today more than ever, must be love for the poor, the weak, the suffering." Pope John Paul II


  12. #12
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    Where do vets fit in in this...if you retired after 20 and can't find a job, are you unemployed or retired? I know I sure as hell needed a job after I retired and was stocking shelves overnight at Target for a few months until I got a more "permanent" job.

  13. #13
    The Tech Support Guy
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    Quote Originally Posted by Big Red Rick View Post
    Not sure from where this comes. I suppose because the pubs have been in charge for the past 3.5 years? That's probably it.
    Quote Originally Posted by ChitownHusker View Post
    You should check your sarcasm meter. He was agreeing with you.
    Correct I guess I broke my own rule by not putting in a .

    Anyway my wife's company just announced 10% reduction plan threw buy outs packages. It blows my mind people on the left feel there point of view of economic polices works. Just look at Europe, that is full on left side economics polices and they are in a world of hurt.

  14. #14
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    Quote Originally Posted by Huskermedic View Post
    Correct I guess I broke my own rule by not putting in a .

    Anyway my wife's company just announced 10% reduction plan threw buy outs packages. It blows my mind people on the left feel there point of view of economic polices works. Just look at Europe, that is full on left side economics polices and they are in a world of hurt.
    And I don't think we necessarily have to look too far from our own backyard to see where liberal policies take us. California is in a world of hurt and seems like half the state has relocated to Colorado...one reason we've been veering left here for the last several years. They figure they can do for Colorado what they did to California.

  15. #15
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    it's the U6 number from the Dept of Labor. The one that is never publicized.







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