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Obama's True Legacy: 95 Million Americans NOT in Labor Force. Up 18% since he took office. (1 Viewer)

Ministry of Pain

Ministry of Pain

Footballguy
38 year low. I see help wanted signs but they don't seem to be places most folks in here would want to work. So why would anyone want to get off the couch for 10 bucks an hour when they can sit home? It might even cost them money to go to work. 

Sit at home and watch others work, that's the American Way! 

 
This is truly what I will remember the most along with doubling or tripling most working folks health insurance costs, a slap in the face if there ever was one. 

And the Left can continue the Trump witch hunt but until you swallow this thread title you will never understand what happened. 

Why people could turn a blind eye...money of course.

 
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Everyone gather round.  We've had MOP math, geography, etc.. time for him to drop some more knowledge on us sheeple.

 
I've stopped working. I don't need money - I just need the government to let me keep what I have.

 
I haven't looked at the data in a while but as of a couple years ago about half the decline in labor force participation was predictable based on demographics. In other words people who were going to retire anyway. The other half is probably demand lagging behind labor supply, which is likely to continue being the case indefinitely.

It's pretty unlikely any of this has much to do with Obama, though there's a possibility ACA has reduced some workers need to seek FT employment w/benefits.

 
You mean the baby boomers are retiring? NO WAY!!!

NATIONAL UNEMPLOYMENT RATE: 5%

"But that doesn't count all the people who stopped looking for work!"

FALSE.

 
So when did the Unemployment rate stop being a valid indicator of how the labor force is doing?

I mean it seems like it was perfectly fine for the last 80 years right up until they started looking good for Obama, but that can't be it.

So what has changed?

 
US unemployed have quit looking for jobs at a 'frightening' level: Survey

Nearly half of unemployed Americans have quit looking for work, and the numbers are even worse for the long-term jobless, according to a poll released Wednesday that paints a grim picture of the labor market. 

Some 59 percent of those who have been out of work for two years or more say they have stopped looking, the Harris Poll of unemployed Americans showed. Overall, 43 percent of the jobless said they have given up, according to the poll released in conjunction with Express Employment Professionals, a job placement service. 

"This is a tale of two economies," Express CEO Bob Funk said in a statement. "It's frightening to see this many people who could work say they have given up."

The results come just a few days after a government report showed that the unemployment rate fell to 4.7 percent in May, but the drop came primarily because of a sharp decline in the labor force participation rate. The number of people of all ages whom the government considers "not in the labor force" swelled by 664,000 to a record 94.7 million Americans, according to Labor Department data. 

Job creation, after averaging more than 200,000 for much of the recovery, has slowed considerably this year. May saw just 38,000 new jobs, part of a trend in which payrolls have grown an average of 116,000 over the past three months and less than 150,000 for all of 2016. 

The greatest concentration of unemployment is in the 18-29 age group, which comprises one-third of all the jobless:

Other highlights of the poll:

83 percent say economic benefits are skewed to the rich.

66 percent say they don't apply for minimum-wage jobs because the pay is too low.

The unemployed are spending just 11.7 hours a week looking for work.

More than half — 51 percent — say they haven't had a job interview since 2014.

There's virtually no stand-out preference in the presidential race: 27 percent prefer presumptive Democratic nominee Hillary Clinton, while 23 percent favor likely Republican standard-bearer Donald Trump.

While much has been made over the decline in the labor force participation rate — at 62.6 percent, it is just off its lowest level since late 1977 — some economists think the fear is overdone. They argue that the drop is due in large part to an aging population, among other causes.

The Harris/Express poll was conducted from May 5-16 and surveyed 1,513 jobless Americans, and carries a 95 percent confidence level.

 
I'm not an Obama guy. That being said, I've never had trouble finding a job. Also, like many of you, head hunters have come looking for me. Perhaps I'm just brilliant and desirable? This is probably a hyper bowl, but nearly everyone in my life that cant find a job....well, lets just say, I'm not surprised. I can't imagine blaming the President of the United States for me not having a job. 

 
HellToupee said:
Retiring and forced into retirement are two different things
Click to expand...
Sure, and we know some people retired early after the crash/recession. That doesn't change the fact that labor force participation rate was always projected to fall this decade based on early baby boomers exiting the workforce. Some early, some on schedule. 

As I said, demographics account for about half the decline and supply demand imbalance in the labor market accounts for the rest. 

 
I will say this. If a certain % are due to age or retirement, I strongly urge people to think about that and what kind of opps that means to folks in their 20s and 30s right now. Professions where the turnover means big dollars for people just hanging around and taking those accounts. 

Use your head people. Sales for sure should be explosive the next 5-10 years. This younger generation already doesn't want to talk, they would rather text from across the room. If you armed yourself with a degree as a youngster or just been working in the job market last 5-10 years, huge things on the horizon for you. Those who have worked hard are going to reap the rewards. Those who have built a bed to lie down in and feel sorry for themselves or allow others to feel sorry for themselves...gonna be a rough go of it for a while. 

 
Ministry of Pain said:
I will say this. If a certain % are due to age or retirement, I strongly urge people to think about that and what kind of opps that means to folks in their 20s and 30s right now. Professions where the turnover means big dollars for people just hanging around and taking those accounts. 

Use your head people. Sales for sure should be explosive the next 5-10 years. This younger generation already doesn't want to talk, they would rather text from across the room. If you armed yourself with a degree as a youngster or just been working in the job market last 5-10 years, huge things on the horizon for you. Those who have worked hard are going to reap the rewards. Those who have built a bed to lie down in and feel sorry for themselves or allow others to feel sorry for themselves...gonna be a rough go of it for a while. 
Click to expand...
Let me ask you a question.  Which group would you rather be in?  The boomers or the millenials?

 
Johnnymac said:
No way I take that side.  The #### that they are going to have to pay for, not to mention the generations to follow.  I would take boomer all day long and twice on Sundays.
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Once the Baby Boomers die off though you're left with a lot of money and a lot less mouths to feed. 

 
Wait, the largest generation in the history of this country is reaching retirement age and suddenly labor force participation is down and social security is strained? I have to tell you, I'm shocked by these developments. Next you'll tell me a bunch of cokehead white guys from the 80s and their wives got old and were overwhelmingly responsible for electing an orange poor man's Gordon Gekko as President.

 
Pure lack of pride in this generations unemployed...Back in the day a man wasn't considered a man if he didn't hold down a job..

 
This would be funny if it wasn't such a sad representation of how things are in these times.

CRAZY HEADLINE!@~!@!@~​

 ​

(doesn't pass the smell test if you're willing to give it a whiff)​
 
probably a combination of a lot of factors out of his control and maybe some in his control. more so the former.

just my opinion.  it's an extremely complex issue.  85% of the people in this thread (myself included) will not have looked into the issue deeply enough to comment intelligently, but that won't stop them from trying.

 
Peyton Marino said:
probably a combination of a lot of factors out of his control and maybe some in his control. more so the former.

just my opinion.  it's an extremely complex issue.  85% of the people in this thread (myself included) will not have looked into the issue deeply enough to comment intelligently, but that won't stop them from trying.




 
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i'm trying to abstain from that for the day.

 
as an aside, what's a False Legacy? I need a frame of reference since we are talking about a True Legacy.

Is that like leaving someone a whoopee cushion in a will? Or is it like an "Indian giver"?

 
This has been done a bunch of different times in FFA.

In one of the last threads someone posted a site that had great info. 

Obama going back to the 50's IIRC is slightly better than average for unemployment. He is slightly worse on labor participation. 

 
joffer said:
Everyone gather round.  We've had MOP math, geography, etc.. time for him to drop some more knowledge on us sheeple.
Click to expand...
This is what I'm talking about.  I don't think you guys even realize you're doing it anymore.  I'm just returning to the forum after a 7 month absence and it's amazing how bad this place has gotten.

 
Demographic/age trends shifting on both ends of the age spectrum:

  1. Students get advanced degrees, takes longer to get them, and they don't have the "I worked and went to state college" opportunities we had, by and large. Kids can stay on their parents health insurance longer, and let's face it, they are staying kids longer nowadays.
  2. Boomers leaving the workforce. People aged 60+ not working and not looking? Good. We shouldn't encourage elderly workforce anyway, let people enjoy life a bit before they die, or is that "too liberal" to ask for older people in the greatest country ever on the face of the planet? How we treat seniors says a lot about us imo.
 
Henry Ford said:
Wait, the largest generation in the history of this country is reaching retirement age and suddenly labor force participation is down and social security is strained? I have to tell you, I'm shocked by these developments. Next you'll tell me a bunch of cokehead white guys from the 80s and their wives got old and were overwhelmingly responsible for electing an orange poor man's Gordon Gekko as President.
Click to expand...
Or it could be those poor men without a college degree age 25-54.  You know, the segment of the population that lost Hillary the election.  http://www.theatlantic.com/business/archive/2016/06/the-missing-men/488858/

 
The increase in private sector jobs under Obama was 30 mill. Under W it was about 300 grand.

I don't blame or credit either president for those numbers. The 2008 crash was happening no matter who was president, and so was the recovery (I think).

Old people are retiring, and the original post is just playing with the numbers to make a good situation look bad.

I don't think the OP did it on purpose, he was just fooled by some meme on Facebook, probably.

It can happen to anyone. No big deal. 

Tell you what, if the unemployment was a real problem, like it was in 2008+, we would be reading about it every day, like we did then. That's how you know this is a BS story.

 
massraider said:
The increase in private sector jobs under Obama was 30 mill. Under W it was about 300 grand.

I don't blame or credit either president for those numbers. The 2008 crash was happening no matter who was president, and so was the recovery (I think).

Old people are retiring, and the original post is just playing with the numbers to make a good situation look bad.

I don't think the OP did it on purpose, he was just fooled by some meme on Facebook, probably.

It can happen to anyone. No big deal. 

Tell you what, if the unemployment was a real problem, like it was in 2008+, we would be reading about it every day, like we did then. That's how you know this is a BS story.
Click to expand...
From the Atlantic article I cited above:

Something is rotten in the U.S. economy. Poor men without a college degree are disappearing from the labor force. The share of prime-age men (ages 25-54) who are neither working nor looking for work has doubled since the 1970s.

The U.S.’s labor participation rate for this group of men is lower than every country in the OECD except for Israel (an outlier, because of the high number of non-working Orthodox Jewish men) and Italy (an economic omnishambles). Today, one in six prime-age men in America are either unemployed or out of the workforce altogether—about 10 million men.
Click to expand...
 
Is there any particular reason we should focus on that one particular subgroup (men 25-54)?  How does the labor participation rate among women compare to the 1970s?

 
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