I would hope the not in labor force would be less than the 2016 94.7 million statistic.
The baby boomers retiring has a lot to do with it.
People are still trying to get disability and others are retiring.
Because I are work Not!
The Labor Force Participation rate fell to mid-70s numbers under Obama. This is the long-term unemployed not registered by current unemployment numbers. Current numbers only measure new applications for unemployment... after 99 weeks, you’re no longer eligible. They are simply no longer counted in the statistic.
I think we’re seeing the long-term unemployed returning to the workforce.
https://fred.stlouisfed.org/series/CIVPART/
perspective.
Also what matters is the rate.
Note that its a jumpy number, from quarter to quarter.
Give it time.
In the 2010 Census, the number of people under age 18 was 74.2 million (24.0 percent of the total population). The younger working-age population, ages 18 to 44, represented 112.8 million persons (36.5 percent). The older working-age population, ages 45 to 64, made up 81.5 million persons (26.4 percent).
That 95 million has to include the under 18 and over 65, otherwise only half of 18 to 65 are working
Different surveys with different methods.
American Welfare State pays a shit-ton of people to simply stay home. It loans massive amounts of money to enslave students to “go to school.” Massive regulation and licensing deter people from even doing simple businesses.
I think boomers retiring is the biggest component, but also the welfare/underground economy is quite large. Women with children on welfare can get the equivalent of 60k. Most of those people can’t get that much in the labor force, at least starting out after having been out of the labor force so long. While there are a lot of jobs available now, there are still disincentives to get a job.
I retired at 60 because I could. I planned it out so why should I continue to work when the plan worked out like a charm? Most people never set a plan in motion and never retire.
Because people are retiring
That's about six month's worth of illegal aliens jumping the border.
Not that they are getting jobs or anything. /s
https://fred.stlouisfed.org/series/U6RATE
In absolute numbers, total non-participation is high, but is total labor participation. You should probably disregard both these numbers as there are largely impacted by the growth of the overall population, and baby boomers retiring.
Trump’s team will be taking a long hard look at ‘disability’... once that’s done lots of folks will be joining the work force.
I think two big things are happening. First: Obama had some numbers to juice to make the news look OK when it was actually much worse and a willing media to parrot the juiced numbers. Savings went down under Obama because the only place that was worth investing was the stock market, so interest rates went through the floor to keep that one number (the DJIA) going up. Unwinding that very tightly wound spring is dangerous, and it is somehow being done very well. Is that skill or dumb luck? It doesn’t really matter.
Second, demographically, a lot of people have been retiring. Some of those people had to delay retirement in 2007-2008 because their savings went to hell. That propped up employment somewhat, but also stagnated growth as those older entrenched employees kept younger employees from moving up and making their own mark on their companies.
Numbers are skewed everywhere, that is normal. Don’t believe a measurement of good jobs in 1970 v one in 2017.
Good grief
Most of those numbers are retirees and invalids
Sean Hannity was a bit of an ass when he was using the same scale as some absolute and never delved into what the numbers represented
This is a problem with multiple causes.
1. About one third of American adults have a criminal record. Nearly all American employers now conduct background checks, largely to protect themselves from the legal fallout of what have come to be called “negligent hires.”
2. A growing number of Americans have substance abuse problems. Alcohol used to be the biggest, but the opioid crisis and the legalization of pot have made it nearly impossible for employers in some areas to find anyone who won’t fail a drug test.
3. More and more people seem to have some type of mental health issue or a history thereof. This makes finding, and keeping, a job a big issue all on its own.
4. The gap between the skills, including what are called “soft skills,” that people can bring to work and what employers demand becomes wider every year. The high school graduation rate, eg, still remains at only 70%.
5. A college degree has become the 21st century equivalent of a high school diploma. It can cost nearly the price of a house to get one. And not all college majors lead to jobs.
Is somebody who runs their own business counted in the workforce numbers?
US Population 326M
Children 74 M = 326-74 = 252M age 18 and over
Retired men 66M
Retired women 66M = 132M age 65 or older
120M = # of adults between 18 and 64, or 252-132
5.8M = # of unemployed, giving us
114M = total possible workers if all were healthy and working
157M = Current Employed = a percentage in excess of all 18-64yo’ds - meaning a healthy labor market is tapping into the over 65 and 16-17yo age groups. (157-114 = 46M jobs being filled between seniors and 16-17yo’ds, migrants with false ids, and visa holders)
The recent trend of sending every 18yo to college delays workforce entry for one to five years. Long-term unemployed are going to be those in rural areas, those now working under the table or on barter systems, those with trash degrees and poor worksearch attitudes who tend to milk unemployment until the end of benefits warning bell sounds, those with psychological issues or poor social skills, and those who are looking but can’t fit a job with their lifestyle preferences (the calif lobster-eating surfer guy for instance who will magically find a job when his benefits run out).