Americans Not In The Labor Force Soar By 579,000 To Record 94.6 Million

Labor participation rate fell when Bush term began and dropped like a stone with Bush's GFC debacle.

The Bush economic black hole is still drawing people in.

 

I can think of more places than just Walmart.

 

and in a small by-line

prior month hiring numbers were revised..................... wait for it .................downward

 

It certain areas yes, like South Dakota. But again, oil/gas exploration is simply one aspect of the oil/gas industry. As technologies are introduced and more efficient production mechanics are implemented, the industry is going through what manufacturing has gone through in the past few decades. In the aggregate, oil/gas industry is not that significant in jobs in the economy here overall. Retail/Service industry has far greater numbers and more of a pulse since our economy is based primarily on consumption.

 

Real wages have not significantly increased since the 1980's while everything else has increased such as rent, food, transportation, etc. The SNAP applications are a relection of the aggregate real wage stagnation in correlation to the increased expenses for necessities.

At the same time, our economy has become more efficient with more efficient technologies, mechanics, etc improving daily lives, improving the bottom line of the business, and improving the investor's pocketbooks. Worldwide manufacturing has decreased yet the productivity has increased three fold. Between 2001 to 2007, the only two industries that was keeping this economy afloat was construction and housing., When those two fell, so did the economy. And the recession we had between 2007 to 2010 should have happened in the early 2001 but 9/11 happened. And no, I am not blaming 9/11 on our economy.

A lot of things have happened with our economy, but a lot of the economic discourse is not based on what Congress has or has not done, nor is it based on who was President or their political ideology.

BTW, I have not gone into the people who receive SNAP and Food stamps yet work as cash only day laborers, hairstylists, barbers, etc in order to make ends meet.

 

SSDI and SS retirement are generally not welfare, but SSI is. If one receives SSI, then one is going to be eligible for food stamps and other welfare assistance. In some cases, SSDI may be part of welfare depending on the facts and circumstances of why someone is receiving SSDI.

 

Thanks!

It is useful to point out the long term effects of the economic collapse that was the product of reckless borrow and spend fiscal policy, rampant deregulation of the financial sector, and the constant efforts of conservative politicians to undermine the pillars of middle class prosperity.

It should be noted that the same pattern of underemployment, and job dispacement occurred during the Great Depression.

 

That is true to a very large degree. Principal causes do include the recklessness of the GOP in the 1990's and particularly the Bush adminstration's utter failure to curb the casino on Wall Street. But there are long term causes as well ;failure of "Reaganomics", the undermining of many of the pillars of middle class stability (replacing pensions with 401K's, the steady assault on the 30 year mortgage, the devaluing of wages).

All this has manifested itself at a time of rapid technological change, during which whole categories of employment are being swept aside, and the skills of many workers are ill suited to the rapidly evolving modern world.

If you study the Great Depression, you will see a similar pattern of displacement and underemployment.

 

Partisan hacks always makes me laugh. The democrats have played their part in the current economic situation and not all for the better but keep those blinders on and only blame the other side. Partisanship is working out so well for us.

Personally I'm convinced things won't get better until the self loving baby boomers are gone. Once those greedy (*)(*)(*)(*)s are gone we can work on solutions to the mess they have made.

 

Looks better than under Obama


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Nope it was Clintons reinvestment act that led to most problems

 

Why do you call baby boomers greedy?

 

SS is never welfare, you are making stuff up

 

It is if you get back more than you put in. Its a Ponzi scheme. If you ran an insurance company like that you would be in jail.

 

The military and economic turmoil of this age is masking economic changes which will govern the destiny of modern societies. It seems that jobs are becoming scarce in all modern countries and that wage levels are being compressed to the effect that there is insufficient margin for skill and expertise. That is why college graduates are despairing of the burden their education debt creates on their life in the face of shrinking wages and scarcity of jobs for graduates.

The world faces the Japanese outcome of shrinking of lifestyles and living spaces and decline of consumerism because they will have living spaces too small to store much stuff.

The effect of escalating USA government debt is yet to be felt and who knows what economic effects will be caused by the continuous growth of government debt outstripping tax revenue and rising faster than GDP. What if the debt escalation can't be restrained without causing a severe depression or even USA government default on debt? If the consequence is a huge fall in the value of the US$ that will have calamitous effect.

A new feature of the ages is a country's debt rising faster than a country's GDP. How can that be accommodated without major upheaval?

 

You should stop falling for the same old hoax

 

nope, not even then.

 

When the government gives you money for not doing anything that's welfare

 

thats not what is being done, you are warping reality.

 

Its exactly whats being done.

 

thats how insurance works

 

Dude, it's so easy to refute you that when I first posted a message on this thread I just aimed to go for emotional effect than for any intellectual-related content. But now having more time on my hands here I go.

You talk about entitlements!??? What about that $700 Billion bailout in 2008--- Bush was in charge then. Now Obama supported it too. Now how is that attacking the rich and helping the poor??? Moreover what about all these other trillions of dollars in bailouts since 2008 in backroom deals and quantitative easing??!!! Is that helping the poor and attacking the rich???!!! If all that money had gone to the poor/middle class we would have climbed out of this financial mess because the poor people would have money to buy things and the economy would grow. That is the fundamental root of all financial crises: workers are not paid enough to buy back all the goods and services they make; therefore, you have crises of overproduction!--- That is Karl Marx Das Kapital, Volume I (1867). Marx saw the crisis of overproduction before anyone else did. End of story.

https://en.wikipedia.org/wiki/Overproduction

 

Then how do insurance companies stay in business

 

Oh because the vast majority of them are. That generation has done great damage to this country and my generation and most likely my child's will be paying for their sorry thieving asses.

 

Maybe the influx of cheap Mexican labor might have something to do with that. It was the largest job increase in this report. Thanks Obama. Or is that the rights fault to for allowing cheap undocumented labor into the country?