Economic BAD News.....more people LEFT the job market than jobs created in April

[Edgetho]

Again, this could be an anomaly because of the end of the Unemployment extension benefits.

Something like 2 million or so people lost their Unemployment benefits in the last few Months.

They were counting on Pimp Daddy to bring them the goodies and it didn't turn out that way.

 

[edthecynic]

The failure of liberal policy is catastrophic and indisputable. Their idea of a "recovery" is 288,000 jobs created while 800,000 American's simply give up and leave the labor force...

Job growth accelerates, but unemployed left in lurch - MarketWatch

The Right has to exaggerate everything to the point of lying. The number of workers who became discouraged and gave up looking for work increased by only 85,000 last month, not 800,000. BLS keeps track of the number of discouraged workers each month, so it doesn't pay for you to lie about the number!!!

Table A-16. Persons not in the labor force and multiple jobholders by sex, not seasonally adjusted

 

[edthecynic]

However, this large drop in unemployment occurred because of an enormous number of Americans simply giving up looking for work. In April, an estimated 800,000 Americans simply left the labor market. As a result, the labor force participation rate dropped back to 62.8 percent—tied for the lowest rate since the 1970s. Fewer prospective workers, not more jobs, caused the decline in unemployment.

Jobs Report: 800,000 Leave Workforce

You have to be incredibly stupid to believe any stat from Heritage!!

Only 85,000 became discouraged and gave up looking for work, not 800,000.

 

[P@triot]

The failure of liberal policy is catastrophic and indisputable. Their idea of a "recovery" is 288,000 jobs created while 800,000 American's simply give up and leave the labor force...

Job growth accelerates, but unemployed left in lurch - MarketWatch

The Right has to exaggerate everything to the point of lying. The number of workers who became discouraged and gave up looking for work increased by only 85,000 last month, not 800,000. BLS keeps track of the number of discouraged workers each month, so it doesn't pay for you to lie about the number!!!

Table A-16. Persons not in the labor force and multiple jobholders by sex, not seasonally adjusted

I've added like 6 links chief. I suppose everybody in America is "lying"?

 

[edthecynic]

Again, this could be an anomaly because of the end of the Unemployment extension benefits.

Something like 2 million or so people lost their Unemployment benefits in the last few Months.

They were counting on Pimp Daddy to bring them the goodies and it didn't turn out that way.

Bullshit, everybody knew the GOP would block any extension.

 

[edthecynic]

The failure of liberal policy is catastrophic and indisputable. Their idea of a "recovery" is 288,000 jobs created while 800,000 American's simply give up and leave the labor force...

Job growth accelerates, but unemployed left in lurch - MarketWatch

The Right has to exaggerate everything to the point of lying. The number of workers who became discouraged and gave up looking for work increased by only 85,000 last month, not 800,000. BLS keeps track of the number of discouraged workers each month, so it doesn't pay for you to lie about the number!!!

Table A-16. Persons not in the labor force and multiple jobholders by sex, not seasonally adjusted

I've added like 6 links chief. I suppose everybody in America is "lying"?

Everybody on the Right is lying. That is all they have. I linked to the actual data. While 800,000 left the workforce, only 85,000 left because of discouragement, so the other 715,000 left for other reasons.

 

[Howey]

retiring baby boomers are not the reason for the mass exodus from the labor force.
this left-wing talking point has been debunked over and over


FACT: more Americans than EVER of retirement age are choosing NOT to retire and REMAIN IN THE LABOR MARKET

FACT: there is a record number of ABLE-BODIED, WORKING-AGE AMERICANS NOT PARTICIPATING IN THE LABOR MARKET


face it; libs are losers who lie to themselves

Since you didn't, or weren't able to, provide a source for your claim, here's one:

Nearly 300,000 baby boomers are retiring every month. That's 10k a day.

Is Baby Boomer Retirement Behind the Drop in July's Unemployment Rate? | Making Sen$e | PBS NewsHour

Why did the unemployment rate go down — from 7.6 percent to 7.4 percent? Because the official “workforce” actually declined — by about 40,000 people. What could explain the drop, given the rise in population? “Ten thousand baby boomers turn 65 today” has become a demographic cliché (or meme, if you prefer). Barring a mass and age-selective plague, that means that 10,000 or so are also turning 66, their official Social Security retirement age. Many, if not most, baby boomers are retiring. And since 10,000 a day equals 300,000 a month, if two-thirds of them are hanging up their rock ‘n’ roll work shoes, Friday’s numbers would make sense: 200,000 or so retirees offsetting the 200,000 or so new working-age Americans.

I have long warned against making too much of any one month’s unemployment numbers. But the story told above is plausible, if not provable.

 

[gipper]

retiring baby boomers are not the reason for the mass exodus from the labor force.
this left-wing talking point has been debunked over and over


FACT: more Americans than EVER of retirement age are choosing NOT to retire and REMAIN IN THE LABOR MARKET

FACT: there is a record number of ABLE-BODIED, WORKING-AGE AMERICANS NOT PARTICIPATING IN THE LABOR MARKET


face it; libs are losers who lie to themselves

Since you didn't, or weren't able to, provide a source for your claim, here's one:

Nearly 300,000 baby boomers are retiring every month. That's 10k a day.

Is Baby Boomer Retirement Behind the Drop in July's Unemployment Rate? | Making Sen$e | PBS NewsHour

Why did the unemployment rate go down — from 7.6 percent to 7.4 percent? Because the official “workforce” actually declined — by about 40,000 people. What could explain the drop, given the rise in population? “Ten thousand baby boomers turn 65 today” has become a demographic cliché (or meme, if you prefer). Barring a mass and age-selective plague, that means that 10,000 or so are also turning 66, their official Social Security retirement age. Many, if not most, baby boomers are retiring. And since 10,000 a day equals 300,000 a month, if two-thirds of them are hanging up their rock ‘n’ roll work shoes, Friday’s numbers would make sense: 200,000 or so retirees offsetting the 200,000 or so new working-age Americans.

I have long warned against making too much of any one month’s unemployment numbers. But the story told above is plausible, if not provable.

My guess is many Boomers would like to stay in the work force, but since there are few jobs, they decide to retire.

In your mind, is it a good thing all these Boomers are retiring? Is it good for the economy? Is Obama doing a good job with the economy?

 

[edthecynic]

retiring baby boomers are not the reason for the mass exodus from the labor force.
this left-wing talking point has been debunked over and over


FACT: more Americans than EVER of retirement age are choosing NOT to retire and REMAIN IN THE LABOR MARKET

FACT: there is a record number of ABLE-BODIED, WORKING-AGE AMERICANS NOT PARTICIPATING IN THE LABOR MARKET


face it; libs are losers who lie to themselves

Since you didn't, or weren't able to, provide a source for your claim, here's one:

Nearly 300,000 baby boomers are retiring every month. That's 10k a day.

Is Baby Boomer Retirement Behind the Drop in July's Unemployment Rate? | Making Sen$e | PBS NewsHour

Why did the unemployment rate go down — from 7.6 percent to 7.4 percent? Because the official “workforce” actually declined — by about 40,000 people. What could explain the drop, given the rise in population? “Ten thousand baby boomers turn 65 today” has become a demographic cliché (or meme, if you prefer). Barring a mass and age-selective plague, that means that 10,000 or so are also turning 66, their official Social Security retirement age. Many, if not most, baby boomers are retiring. And since 10,000 a day equals 300,000 a month, if two-thirds of them are hanging up their rock ‘n’ roll work shoes, Friday’s numbers would make sense: 200,000 or so retirees offsetting the 200,000 or so new working-age Americans.

I have long warned against making too much of any one month’s unemployment numbers. But the story told above is plausible, if not provable.

My guess is many Boomers would like to stay in the work force, but since there are few jobs, they decide to retire.

In your mind, is it a good thing all these Boomers are retiring? Is it good for the economy? Is Obama doing a good job with the economy?

You can't have it both ways, the Right are claiming that more Boomers are staying in the workforce then ever before, which is true, but the number is up a very small amount, less than 100,000 per year. If greater numbers of Boomers are able to stay in the workforce, no matter how small the number is, you can't say the Boomers are retiring because they can't find work!

 

[tyroneweaver]

i went down to jackpot nevada and won a thousand dollars.
but I won't say how much it took me to win it.

that's how jugears figures unemployment numbers

 

[gipper]

Since you didn't, or weren't able to, provide a source for your claim, here's one:

Nearly 300,000 baby boomers are retiring every month. That's 10k a day.

Is Baby Boomer Retirement Behind the Drop in July's Unemployment Rate? | Making Sen$e | PBS NewsHour

My guess is many Boomers would like to stay in the work force, but since there are few jobs, they decide to retire.

In your mind, is it a good thing all these Boomers are retiring? Is it good for the economy? Is Obama doing a good job with the economy?

You can't have it both ways, the Right are claiming that more Boomers are staying in the workforce then ever before, which is true, but the number is up a very small amount, less than 100,000 per year. If greater numbers of Boomers are able to stay in the workforce, no matter how small the number is, you can't say the Boomers are retiring because they can't find work!

I never wanted it both ways...it matters not anyway.

The fools in charge are destroying the world's greatest economy with too much government.

Almost 3 Times As Many People DROPPED OUT of Labor Force As Joined It
Posted on May 3, 2014 by WashingtonsBlog
“Rarely Does A Monthly Report On The United States Job Market Look So Terrific On The Surface While Being So Disappointing Underneath”

The New York Times’ Neil Irwin gives a balanced view of the new jobs numbers:

Rarely does a monthly report on the United States job market look so terrific on the surface while being so disappointing underneath.

***

Employers added a whopping 288,000 jobs, the most in two years.

***

The number of people in the labor force fell by a whopping 806,000, wiping out the February and March gains and a bit of January as well. The labor force participation rate fell by 0.4 percentage points to 62.8 percent, returning to its December level.

And the number of people reporting they were unemployed fell by 733,000, which sounds good on its surface, but paired with the similar-sized decline in the labor force points to job seekers giving up looking rather than finding new employment.

In other words, 288,000 jobs were created, but 806,000 fell out of the labor force and gave up looking for work altogether. So 2.8 times as many people dropped out as found jobs.

As CBS notes:

The unemployment rate dropped to 6.3 percent in April from 6.7 percent in March, the lowest it has been since September 2008 when it was 6.1 percent. The sharp drop, though, occurred because the number of people working or seeking work fell. The Bureau of Labor Statistics does not count people not looking for a job as unemployed.

***

The amount (not seasonally adjusted) of Americans not in the labor force in April rose to 92,594,000, almost 1 million more than the previous month.

The number of women not in the labor force has risen to an all-time high. In 20% of American families, no one works.

Despite what you may have heard, the huge numbers of people dropping out of the labor force can’t be attributed to retiring baby boomers.

In reality, throwing money at the big banks has led to a “jobless recovery” – a permanent destruction of jobs – which is a redistribution of wealth from the little guy to the big boys. (And see this.)

And most of the new jobs being created are low-wage or temporary jobs.

Almost 3 Times As Many People DROPPED OUT of Labor Force As Joined It Washington's Blog

 

[LoneLaugher]

Is the economy better or worse than it was 5 years ago?

 

[P@triot]

However, this large drop in unemployment occurred because of an enormous number of Americans simply giving up looking for work. In April, an estimated 800,000 Americans simply left the labor market. As a result, the labor force participation rate dropped back to 62.8 percent—tied for the lowest rate since the 1970s. Fewer prospective workers, not more jobs, caused the decline in unemployment.

Jobs Report: 800,000 Leave Workforce

You have to be incredibly stupid to believe any stat from Heritage!!

Only 85,000 became discouraged and gave up looking for work, not 800,000.

Except that every stat from the Heritage Foundation - including this one here - is 100% accurate. Oops!

800,000 people dropped out of the work force in April. It's indisputable. It's undeniable. 4x's more people left the work force in April than landed a job. Vintage liberal economy. You guys collapsed Detroit and now you're working on doing the same thing to the U.S.

 

[zeke]

I know all kinds of people who do not work in the traditional labor markets and would show up as having "dropped out" of the "work force". What bullshit.

There is an entire cash economy that functions all over the country. I work in it. I wouldn't appear in any kind of survey concerning looking for work.

But I get up and go to work most every day. How could that be?

 

[P@triot]

I know all kinds of people who do not work in the traditional labor markets and would show up as having "dropped out" of the "work force". What bullshit.

There is an entire cash economy that functions all over the country. I work in it. I wouldn't appear in any kind of survey concerning looking for work.

But I get up and go to work most every day. How could that be?

I'm sure the IRS will be very interested to learn about this "cash economy" you "work in" which does not show up in "traditional labor markets".

Liberal logic at its finest: "don't worry about the economy we collapsed, you can work under the table and avoid paying taxes".

 

[pinqy]

I know all kinds of people who do not work in the traditional labor markets and would show up as having "dropped out" of the "work force". What bullshit.

Why would they show up as having dropped out? If they respond that they worked at least one hour for pay or at least 15 hours unpaid in a family business or farm, or that they wanted to work, could accept a job and actively looked for work (which includes asking friends and family) then they'd be in the labor force.

There is an entire cash economy that functions all over the country. I work in it. I wouldn't appear in any kind of survey concerning looking for work.

But I get up and go to work most every day. How could that be?

If you were in the survey, how would you respond to the questions (keeping in mind that you've already been read the confidentiality laws, that your info can only be used for statistical purposes, your name will not be identified and your information cannot be given to the IRS or law enforcement etc)
"Do you own a business or farm?" Yes No.
"Last week, did you do ANY work for (pay/either pay or profit)?" Yes No Retired Disabled Unable to work
"Last week, did you do any unpaid work in the family business or farm?" Yes No

If you answered yes to any of those, you would be classified as in the Labor Force, and Employed.

You would not appear the non-farm payroll survey (the official jobs numbers)

 

[edthecynic]

However, this large drop in unemployment occurred because of an enormous number of Americans simply giving up looking for work. In April, an estimated 800,000 Americans simply left the labor market. As a result, the labor force participation rate dropped back to 62.8 percent—tied for the lowest rate since the 1970s. Fewer prospective workers, not more jobs, caused the decline in unemployment.

Jobs Report: 800,000 Leave Workforce

You have to be incredibly stupid to believe any stat from Heritage!!

Only 85,000 became discouraged and gave up looking for work, not 800,000.

Except that every stat from the Heritage Foundation - including this one here - is 100% accurate. Oops!

800,000 people dropped out of the work force in April. It's indisputable. It's undeniable. 4x's more people left the work force in April than landed a job. Vintage liberal economy. You guys collapsed Detroit and now you're working on doing the same thing to the U.S.

Actually Heritage was off by a factor of 9.5 on this stat!!! While 806,000 left the workforce, only 85,000 became discouraged and "gave up looking."

 

[JakeStarkey]

Root's numbers mean nothing if he has not factored in those folks who retired during the reporting period.

 

[pinqy]

However, this large drop in unemployment occurred because of an enormous number of Americans simply giving up looking for work. In April, an estimated 800,000 Americans simply left the labor market. As a result, the labor force participation rate dropped back to 62.8 percent—tied for the lowest rate since the 1970s. Fewer prospective workers, not more jobs, caused the decline in unemployment.

Jobs Report: 800,000 Leave Workforce

You have to be incredibly stupid to believe any stat from Heritage!!

Only 85,000 became discouraged and gave up looking for work, not 800,000.

Except that every stat from the Heritage Foundation - including this one here - is 100% accurate. Oops!

The numbers are accurate, but the characterization and interpretation are misleading.

800,000 people dropped out of the work force in April. It's indisputable. It's undeniable.

No, 800,000 people did not "drop out." There are 800,000 fewer in the labor force, but they didn't all drop out. Some just haven't started looking for work yet, some took a break, some retired, some decided they didn't want/need a job, etc. To characterize it as "dropped out" implies things that are unknown.

4x's more people left the work force in April than landed a job.

Untrue. Both in your math and understanding of the two different surveys.

 

[Lovebears65]

But the left will rejoice and say the unemployment number went down.. Yeah! It went down because not as many people are looking for work!

The jobs report released Friday by the U.S. Department of Labor revealed that 288,000 jobs were created in April, the biggest gain in more than two years, and that the headline unemployment rate dropped 0.4 percentage points to 6.3%, the lowest level in 5½ years.

Great news, right? Not necessarily.

The unemployment rate tumbled in April not because of all the new jobs created last month but rather because more than 800,000 people either stopped looking for a job or left the job market for other reasons (retirement, for example).

Big Downside to April Jobs Report