tdsrnest wrote:
The BLS does show 92 million out of the workforce. But if you dig into these numbers it is silly and and the GOPTP and Fox News uses this as propaganda.
The BLS shows the civilian population over the age of 16 is nearly 247 million. The labor force is nearly 155 million. So that leaves 92 million not in the labor force. So what does that mean you out of touch GOPTP Fox News cult followers.
It means everybody in this country above the age of 16 that not working is 92 million. But the BLS breaks it down further. Which you GOPTP idiots forgot to look at. It was stated by the BLS that the 92 million are mostly retired, not interested in working, such as stay at home parents, early retires, sick and unable to work, and students.
The BLS never showed 92 million out of the workforce, all it showed was the population of people in this country over the age of 16 and the size of the workforce. So the GOPTP and there propaganda machine threw out the 92 million figure. But being in the GOPTP you lack as usual any kind of common sense and break down these numbers.
The BLS does show 92 million out of the workforce.... (
show quote)
Here is the real picture, maybe you should stick to just presenting information instead of adding derogatory commontary.
Not Looking for Work: Why Labor Force Participation Has Fallen During the Recovery
By James Sherk September 4, 2014
Abstract
Talking Points
Originally published August 30, 2012Revised and updated September 4, 2014
The American economy is experiencing the slowest recovery in 70 years. In addition to persistently high unemployment, labor force participation has fallen sharply since the recession began in December 2007. Today, 6.9 million fewer Americans are working or looking for work. This drop accounts for virtually the entire reduction of the unemployment rate since 2009 because those not looking for work do not count as unemployed.
Demographic changes explain less than one-quarter of the drop in labor force participation. The Council of Economic Advisers (CEA) estimate that demographics explain half of the drop in labor force participation, but the estimate ignores the effect of rising education rates. The baby boomers are aging and thus more likely to retire, dropping out of the labor force, while the population has become more educated and thus more likely to work. These demographic changes together explain less than one-quarter of the drop in labor force participation.
The remaining drop in participation primarily comes from millions more people collecting Social Security Disability Insurance (SSDI) or attending school. While those enrolled in school will probably return to the labor force, those going on the disability rolls will not. They will remain permanently outside the labor force.
The difficulty of finding a job drives both these changes. Job creation fell sharply after the recession began andunlike layoffshas only partially recovered. The governments responses have been ineffective at best and counterproductive at worst. The stimulus provided little if any boost to the economy and will depress the economy in future years. The DoddFrank Act has hurt capital markets and hurt businesses seeking to expand.[1] Federal Reserve Banks find many businesses reporting that Obamacare has made hiring more expensive.[2] Instead of public works programs and counterproductive regulations, Congress should reduce the tax and regulatory burdens that it imposes on businesses to encourage hiring and stop the fall in labor force participation.
The Slow Recovery
The collapse of the housing bubble and the resulting financial crisis sent the U.S. economy into a recession in December 2007. Recessions and financial crises are not unusual. The savings and loan crisis and the Volcker disinflation contributed to the recessions of the early 1990s and 1980s, respectively. The recoveries from both of these recessions were strong. Todays economy is unusual in how slowly it is recovering.
Officially, the most recent recession ended in June 2009the last month of the last quarter of the economic contraction that began in 2008. When President Barack Obama took office in early 2009, his Administration projected that unemployment would fall to 7 percent by the end of 2010 if Congress passed his stimulus package. The Administration warned that unemployment would hit 9 percent by the end of that year if Congress did not pass the stimulus package. Congress passed the stimulus, yet the unemployment rate hit 10 percent in October 2009 and did not fall below 9 percent until late 2011.
Not until May of 2014 did total employment reach its pre-recession peakfive years after the recession formally ended.[3] Mays unemployment rate stood at 6.3 percentthe lowest since the recession beganbut also matched the highest unemployment rate following the 2001 recession.[4]