RECORD 94,610,000 AMERICANS NOT IN LABOR FORCE

[Preacher]

Record 94,610,000 Americans Not in Labor Force - Breitbart

Yep. Economy is improving!

 

[waltky]

Fewer people in labor force...

Record 94,708,000 Americans Not in Labor Force; Participation Rate Drops in May
June 3, 2016 | A record 94,708,000 Americans were not in the labor force in May -- 664,000 more than in April -- and the labor force participation rate dropped two-tenths of a point to 62.6 percent, near its 38-year low, the Labor Department's Bureau of Labor Statistics reported on Friday.

When President Obama took office in January 2009, 80,529,000 Americans were not participating in the labor force; since then, 14,179,000 Americans have left the workforce -- some of them retiring and some just quitting because they can't find work. "By almost every economic measure, America is better off than when I came here at the beginning of my presidency," President Obama told the people of Elkhart, Indiana three days ago. "We cut unemployment in half, years before a lot of economists thought we would." The unemployment rate in May dropped to 4.7 percent, BLS reported, less than half of its Obama-era high of 10 percent in October 2009.

But the labor force participation rate has deteriorated over Obama's two terms. When Obama took office in January 2009, shortly before the recession hit, the labor force participation rate was 65.7 percent. The following month, it reached an Obama-era high of 65.8 percent, and then it began its seven-year downward spiral, hitting 62.4 percent in September 2015, its lowest point since 1977. The 62.6 percent participation rate in May 2015 compares with 62.8 in April and 63.0 in March. (BLS noted that the rate has declined by 0.4 percentage point over the past two months, offsetting gains in the first quarter.)

In May, according to the Labor Department's Bureau of Labor Statistics, the nation’s civilian noninstitutional population, consisting of all people 16 or older who were not in the military or an institution, reached 253,174,000. Of those, 158,466,000 participated in the labor force by either holding a job or actively seeking one. The 158,466,000 who participated in the labor force equaled 62.6 percent of the 253,174,000 civilian noninstitutional population.

BLS points to retirements among the aging baby boom generation as a key factor affecting the labor force participation rate. But the weak job market has caused other Americans to give up job-hunting in favor of staying home or going back to school. BLS said the economy added a disappointing 38,000 jobs in May, well below analysts' estimates of 158,000. Over the past three months, job gains have averaged 116,000 per month. The Bureau of Labor Statistics counted 5,923,000 people in May as "persons who currently want a job," up 130,000 from 5,793,000 in April.

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[Staidhup]

Yep America voted for hope and change and now they are begging for spare change. What a guy, stellar record of policies and achievements. So now we will hear it was Bush's or congresses fault.

 

[BluesLegend]

Told you liberals suck, they are like the black plague.

 

[waltky]

37.2% not officially counted in labor force...

94,333,000 Not In Labor Force; Labor Force Participation 62.8%
August 5, 2016 – 94,333,000 Americans were not in the labor force in July, a slightly better showing than June’s 94,517,000; and the labor force participation rate improved slightly, increasing a tenth of a point to 62.8 percent from June’s 62.7 percent, the Labor Department's Bureau of Labor Statistics reorted on Friday.

In September 2015, the labor force participation rate dropped to 62.4 percent, its lowest point since 1977. The best it’s been since Barack Obama took office is 65.8 percent in February 2009, the month after Obama was sworn in amid a recession. The labor force participation rate is the percentage of people in the civilian noninstitutionalized population, age 16 or older, who are either working or actively seeking work. As noted by the Congressional Budget Office, the labor force participation rate reflects people’s decisions about the attractiveness of working or looking for work compared with alternatives such as attending school, caring for family members, or retiring. In Friday’s report, BLS said the economy added 255,000 jobs in July, a better showing than analysts expected. That 255,000 compares with a revised 292,000 in June and a revised 24,000 in May.

The July unemployment rate held steady at 4.9 percent, as the number of unemployed persons dropped 13,000 to 7,770,000. At the same time, the number of employed persons increased 420,000 to 151,517,000 in July. In July, the nation’s civilian noninstitutional population, consisting of all people 16 or older who were not in the military or an institution, reached 253,620,000. Of those, 159,287,000 participated in the labor force by either holding a job or actively seeking one. The 159,287,000 who participated in the labor force equaled 62.8% percent of the 253,620,000 civilian noninstitutional population.

Long-term outlook

In its long-term budget outlook published in July, the Congressional Budget Office projected that the labor force participation rate will decline from about 63 percent in 2017 to around 58 percent in 2046. Variations in the participation rates affect the federal budget by changing output and income and by changing the interest rates the federal government pays on public debt. The CBO noted that its projected 58-percent rate in 2046 could be higher or lower for various reasons, including demographics, economic conditions, and social and technological developments, such as changes in the roles of men and women in the rearing of children or the introduction of a new medical technology that improves the health of the population, leading people to work longer, for example.

CBO concluded that if the labor force participation rate is 61 percent in 2046, the resulting higher gross domestic product would lead to more revenues, higher interest rates, smaller budget deficits, and less federal debt. But if the labor force participation rate drops to 55 percent in 2046, the slower economic growth would result in larger budget deficits and more debt. The CBO also projected that the labor force will grow by an average of 0.4 percent a year over the next 30 years, compared with 1.5 percent between 1966 and 2015. Contributing factors include retiring baby boomers, declining birthrates, and declining participation in the labor force. Less growth in the labor force means economic growth in the years ahead will be slower than it was in the past 50 years.

94,333,000 Not In Labor Force; Labor Force Participation 62.8%

 

[Norman]

GDP growth at record lows too...

But at least officially everyone has a job. It's starting to remind the soviet union almost. Want to become even more like they were? Vote Hillary...