Unemployment is at 4.7%; will you hail Obama?

[Legion Troll]

The national unemployment rate has fallen by more than half since the nation emerged from the worst economic crisis since the Great Depression.

It peaked at 10 percent in 2010 and stood at just 4.7 percent last month.

But there’s one statistic that has been vexing.

The size of the nation’s workforce -- known as the labor force participation rate -- continues to fall.

Since the start of the downturn, the percentage of that population that has a job or is looking for one has dropped more than 3 percentage points, to 62.6 percent, a level not seen since the 1970s.

The problem is particularly pronounced among men between the ages of 25 and 54, traditionally considered the prime working years.

Their participation rate has been declining for decades, but the drop-off accelerated during the recession. The high mark was 98 percent in 1954, and it now stands at 88 percent.

The United States now has the third-lowest participation rate for “prime-age men” among the world’s developed countries.

In other words, Greece, Slovenia and Turkey have a larger share of men in their workforces than the United States does. The United States beats only Italy and Israel.

https://www.washingtonpost.com/news/wonk/wp/2016/06/20/why-americas-men-arent-working/?wpisrc=nl_draw2&wpmm=1

 

[The Dude]

No conservatards would rather 10 percent with a Warhawk conservatard in office!
Study the stock market, republicans don't do economics

 

[Legion Troll]

Legions of women have joined the workforce since the 1950s, when about one-third of them had a job or were looking for one.

Women’s participation rate topped 50 percent in the late 1970s and peaked at about 60 percent in the early 2000s.

Perhaps fewer men are working because their wives are bringing home the bacon instead, but the share of women in the workforce also has decreased significantly since the recession.

Less than a quarter of prime-age men who are not in the labor force have a working spouse -- and that number has actually declined over the past 50 years.


https://www.washingtonpost.com/news/wonk/wp/2016/06/20/why-americas-men-arent-working/?wpisrc=nl_draw2&wpmm=1

 

[The Dude]

Those women vote dem

 

[Legion Troll]

The problem is one of education and the erosion of demand for low-skilled workers.

More than 90 percent of college-educated men are in the workforce, compared with 83 percent of those with a high school diploma or less.

It’s a theme seen time and again in our increasingly globalized and high-tech economy: Blue-collar jobs that were once the cornerstone of the middle class get outsourced or replaced by automation.

https://www.washingtonpost.com/news/wonk/wp/2016/06/20/why-americas-men-arent-working/?wpisrc=nl_draw2&wpmm=1

 

[The Dude]

I wonder what millionaire participation rate is?

 

[Legion Troll]

There’s a ripple effect, too. When a manufacturing plant shuts down, for example, the laid-off employees may wind up in lower-skilled jobs, displacing those workers and potentially forcing them out of the labor market.

The lower the wage, the more likely workers are to pass up the job altogether. Among the bottom 10 percent of wage earners, a $1,000 increase in annual income boosted the participation rate by 0.16 percent for prime-age men.

When the returns to work for those at the bottom of the wage distribution are particularly low, more prime-age men choose not to participate in the labor force.


https://www.washingtonpost.com/news/wonk/wp/2016/06/20/why-americas-men-arent-working/?wpisrc=nl_draw2&wpmm=1

 

[The Dude]

Participation for millionaires is 80 percent, so 2,000,000 of us are unemployed

 

[zappasguitar]

Legions of women have joined the workforce since the 1950s, when about one-third of them had a job or were looking for one.

Women’s participation rate topped 50 percent in the late 1970s and peaked at about 60 percent in the early 2000s.

Perhaps fewer men are working because their wives are bringing home the bacon instead, but the share of women in the workforce also has decreased significantly since the recession.

Less than a quarter of prime-age men who are not in the labor force have a working spouse -- and that number has actually declined over the past 50 years.


https://www.washingtonpost.com/news/wonk/wp/2016/06/20/why-americas-men-arent-working/?wpisrc=nl_draw2&wpmm=1

Fewer people are working because, as we get older, many of us have come to the realization that being "rich" isn't the "end all be all" we thought it was when we were young.

The relentless pursuit of more money only distracts us from the REAL joys of life.

 

[Leonthecat]

Fewer people are working because, as we get older, many of us have come to the realization that being "rich" isn't the "end all be all" we thought it was when we were young.

The relentless pursuit of more money only distracts us from the REAL joys of life.

Well said.

 

[cawacko]

Fewer people are working because, as we get older, many of us have come to the realization that being "rich" isn't the "end all be all" we thought it was when we were young.

The relentless pursuit of more money only distracts us from the REAL joys of life.

Some people continue to work because they enjoy what they do or find they get bored with too much time on their hands or because they need the money. How many people at age 70 take on a new job with the thought they will get rich?

 

[zappasguitar]

Some people continue to work because they enjoy what they do or find they get bored with too much time on their hands or because they need the money. How many people at age 70 take on a new job with the thought they will get rich?

Yes, and some RETIRE when they hit 70, while m any choose to get out early.

Aren't the Baby Boomers the biggest demographic so far to reach retirement age?

 

[cawacko]

Yes, and some RETIRE when they hit 70, while m any choose to get out early.

Aren't the Baby Boomers the biggest demographic so far to reach retirement age?

To my knowledge they are. Now my peer group isn't in the retirement age so I can't speak to what I experience from friends but I from family friends etc. those who continue to work, even part time, aren't doing it at that age to get rich.

 

[zappasguitar]

To my knowledge they are. Now my peer group isn't in the retirement age so I can't speak to what I experience from friends but I from family friends etc. those who continue to work, even part time, aren't doing it at that age to get rich.

No, they aren't doing it at that age to get rich.

Year after year, the dream of becoming a "millionaire" moves farther and farther out of reach until one day people say "enough is enough".

Many have realized that they'd rather live their remaining years relaxing rather than continuing with the daily grind.

 

[Legion Troll]

I found it interesting to see that the men with the lowest levels of education are the ones opting out of the workplace after being displaced by automation and advances in technology.

Then along come Trump, who promises them that their buggy-whip making jobs will be magically restored if they give him their allegiance, money and votes.

What a scam artist. His campaign is just a larger scale Trump U.

 

[cawacko]

No, they aren't doing it at that age to get rich.

Year after year, the dream of becoming a "millionaire" moves farther and farther out of reach until one day people say "enough is enough".

Many have realized that they'd rather live their remaining years relaxing rather than continuing with the daily grind.

To each his own. Far be it for me to tell someone what to do who has worked to put themselves in a position where they have options. From where I sit today I would love to be on the golf course everyday around retirement age. Of course in another 30 years, if I'm still around, circumstances may change or my wishes may change but that's what I envision today.

 

[Legion Troll]

To each his own. Far be it for me to tell someone what to do who has worked to put themselves in a position where they have options. From where I sit today I would love to be on the golf course everyday around retirement age. Of course in another 30 years, if I'm still around, circumstances may change or my wishes may change but that's what I envision today.

And it's all about you, isn't it?

 

[The Dude]

To each his own. Far be it for me to tell someone what to do who has worked to put themselves in a position where they have options. From where I sit today I would love to be on the golf course everyday around retirement age. Of course in another 30 years, if I'm still around, circumstances may change or my wishes may change but that's what I envision today.

Wow you are a baby

 

[zappasguitar]

My point is that members of the largest demographic to reach retirement age are now beginning to retire and many at the upper end of he Baby Boomer demographic are simply choosing retirement over a long, protracted search for another menial job.

Which of course explains the declining labor force participation rate numbers.

 

[The Dude]

And many are young millionaires retiring early