Labor Force Participation Rate Lowest Since 1981

Fewer Americans are working than at any time since Jimmy Carter left office.

So, why are so many Americans not working?

    A) They are independently wealthy

    B) They are funemployed and loving it

    C) They have other priorities

    D) The Obama recovery is a bust, their unemployment has run out and they have given up hope

Choose carefully.

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11 Responses to Labor Force Participation Rate Lowest Since 1981

  1. R.D. Walker says:

    Meanwhile, unemployment drops to 8.1 today! Yaaaaay.

    The U.S. economy added 115,000 new jobs in April and the unemployment rate fell to 8.1 percent, the lowest level since January 2009. While some may focus on the rate, the more important fact is that job creation was disappointing.

  2. DocO says:

    RD, do you know much the changing demographics (baby boomers retiring) are contributing to the gross number of labor participation?

  3. R.D. Walker says:

    According to the New York Times, the economy needs to add about 150,000 jobs a month just to keep up with normal population growth. That won’t get people who have lost jobs back on payrolls. It takes 150,000 jobs a month to stay steady and not increase unemployment.

    Last month the economy added 115,000 jobs.

    115,000 < 150,000

    Unemployment dropped.

    There is only one way this is possible. Thousands of people gave up all hope of working and dropped out of the labor pool.

  4. R.D. Walker says:

    Doc, whatever the rate is, it is less than it would be in a good economy.

    Middle-income boomers are delaying retirement by an average of five years, a report released Tuesday by the Bankers Life and Casualty Company Center for a Secure Retirement found. The majority of boomers agree that the catalyst for retirement will be their financial status rather than their age.

  5. R.D. Walker says:

    Duh. I forgot. The Boomer retirement rate doesn’t contribute to it at all. The labor force participation rate denominator is defined as all men and women aged 15-64. Retirement isn’t a factor.

    One hundred percent of the effect in the graph is working age people.

  6. DocO says:

    Thanks RD. That is truly a disturbing statistic. Perhaps if we didn’t provide the prols with quite so much bread and circus? Or perhaps we could decriminalize entrepreneurial endeavors? Nah, now I’m just talking crazy.

  7. R.D. Walker says:

    Had the labor force not declined, unemployment would have been 8.3% in April, instead of the 8.1% reported.

  8. R.D. Walker says:

    What do you do when you give up all hope of finding a job? You discover back pain, dizziness, chronic headaches, etc….

    …more than 5 million workers and their families have enrolled in the [Social Security] disability program since Obama took office.

    A report last fall from the Obama administration’s economic advisers warns that the mass exodus of workers who can’t find a job onto the disability rolls poses a long-term risk to the economy, since once enrolled, these workers almost never return to the active workforce. This can, the report said, result “in a loss to society of the economic contribution those workers could have made.”

  9. Roy Ryder says:

    In previous recession recoveries, the number of people rejoining the workforce causes the unemployment number to rise. Obama has figured out a way to stop unemployment from rising by making sure that everybody who is out of a job doesn’t bother to look anymore. Smart power!

  10. jacksonsdad says:

    I was thinking about “The Carter Years” today and how to reconcile the ‘even/odd’ gas lines with Obamas’ claim to have saved us from “The Worst Financial Crisis Since The Great Depression”. I’ll just stick my neck out here and say that America has suffered through many ‘financial crisis’ since TGD that could be classified as WORSE than the one that Obysmal inherited (and then promptly exacerbated).

    It’s a claim that has been repeated to the point that now it is accepted as The Starting Line of the debate. Team Obowma deserves mucho credit for transplanting the playing field into Absurdity Arena… the seeds they’ve been sowing are bearing fruit and REALITY ain’t got shit to do with it.

    I’m looking forward to the day when some industrious webmaster >_< posts a small sample of the examples of Obeyme repeating that line… "Worst Financial Crisis Since The Great Depression". When I say "small sample" I mean like 1% of the actual instances… anything more would be unpalatable.

  11. Labyrinth says:

    Bleh bleh bleh, i’m pretty sick of the on going stupidity of left wingers trying to still carry Obama’s water after over 3 years of failure. Just how blind or dumb does one have to be to realize he added $5 trillion to the national deficit ? That there are 88 Million our of work people, that the participation rate is at its lowest since 1981 ? That 1 in 2 grads are under-employed ? Just how many economic statistics must one repeat until it sinks into the liberal mind ?
    Not to mention Obama’s other shenanigans, like violating the Constitution, overstepping his power as president, misusing government power to attack citizens, lies about the need for Stimulus then mis-spending that money on crap progressive projects to keep union unemployment at 3% ? And that doesn’t even go into his attacks on private industry, messing with America’s future energy independance while blowing OUR money on fake and failing ‘green’ initiatives.
    If your so corrupt that you can’t see all this, perhaps you need to be deported to a socialist country, because you sure as hell don’t believe or belong in America.