Skip to comments.Labor Force Participation rate - no longer falling
Posted on 01/05/2019 6:28:16 AM PST by ChessExpert
This statistic is a political football. Thought I'd get an update.
The part. rate is low, and when it goes up and unemployment goes up (a little). It’s a good sign.
Millions of us last our jobs and many their homes due to Obama Care.
Hussein told us those jobs were not coming back.
The participation rate is an old friend of mine. BLS has several series so here’s one. https://www.bls.gov/charts/employment-situation/civilian-labor-force-participation-rate.htm.
It was falling before Obama but he didn’t do anything to help it.
I an not optimistic that it will go to previous highs. Today we have a workforce that is finicky and won’t do dirty jobs or relocate. They are also poorly educated. New entrants want everything their parents had to start. It is also too easy to not work, and get everything an entry worker gets to start. Why work? My daughter is like that.
MSM headline: Disabled people forced to take dangerous jobs to feed themselves due to government shutdown.
This is another reason why the Uniparty wants to impeach the “mofo”
“...Why work? My daughter is like that.”
My sympathies. Got lucky here, two daughters in management and one going to school to be an RN.
The participation rate is going to decline, because baby boomers have begun retiring. The more telling data comes from the employmentL:population ratio for 25-to-55 year-olds. (I wish they’d report 25-to-65 year-olds.)
As you can see, there’s still significant room for improvement:
During the Obama years it was falling because GDP averaged 1.4% and the economy sucked roots.
Oh BS. I go to the DU to see average Americans getting dumped on not Free Republic.
Explain for the audience the exact steps to achieve this "hammock" status without working? LOL!
My wife is a stay-at-home mom to our four children. She’s not counted as participating in the labor force even though she works her ass off.
By this chart the levelling-off started in 2014. The stock market may at times lead political or economic events due to investor expectations about the future. However, this statistic is probably more of a lagging indicator. So, I must regretfully conclude that President Trump does no deserve credit (yet). Other employment statistics do show that the economy is doing very well President Trump.
The President often gets credit or blame for bad economic statistics. I think most every chart would be improved with some indicator as to which party controls the House and Senate. The great recession started because of Obama’s policies that were implemented with the 2006-2008 House and Senate newly controlled by Democrats.
Yes, the Labor Participation Rate (LPR) fell while Obama was in office. However, that cycle of a falling LPR began before Obama took office, and the causes were larger macro economic factors than policies, programs and law changes during any individual president. And the rise now is due to larger factors than the policies of President Trump, as beneficial as those policies may be.
For example: China’s export ability was already under pressure from (a) wage increases in China, and (b) competition from nations in Asia all around China that still had room to grow on international wage scales (Vietnam, Malaysia, Indonesia, Philippines). Before Trump took office some manufacturing hosted by companies from outside China had already begun to shift some manufacturing to other nations. China also has the problem of long-distance transport to get to its largest export market - the U.S. - and many manufacturers are tired of being whipsawed by the ups and downs of oil driven transport costs. Lastly, more robotized “labor” is reducing the need for cheap labor, and even reducing the need for all manufacturing to be centralized, instead of hosted closer to individual consumer markets, especially when dealing with small size electronics with hundreds of parts that once designed become global commodities everyone is using. China’s ability to dominate in exports had a particular “shelf life” and that had already begun to show its limits by 2016.
Where Trump has a positive, as the U.S. President, is that all of the above shows that China is weak in many ways and now is a good time to pressure China, as its own weaknesses are rising.
Many Baby Boomers found it financially better to retire and/or claim disability during the Obama years, and were actually encouraged to do so at the time. The fact remains that a 65 year old in 2019 is in far better shape than a 65 year old in 1950 was, and many are now able to renter the work force. Its actually healthier than sitting on the sofa watching daytime TV.
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