Record 1.2 Million People Fall Out Of Labor Force In One Month

Discussion in 'Politics' started by Wallet, Feb 3, 2012.

  1. Tsing Tao

    Tsing Tao

    The job situation is terrible no matter what the argument is about, or who is responsible for it.
     
    #31     Feb 3, 2012
  2. Tsing Tao

    Tsing Tao

    No, since, as you say, that is normally covered by an employment drug test. But to get welfare? Absolutely.
     
    #32     Feb 3, 2012
  3. Tsing Tao

    Tsing Tao

    When you are used to making 90k a year as a senior accountant, and then have to go to work at SuperValu as a cashier for minimum wage, is it not a good thing for either the person OR the economy.
     
    #33     Feb 3, 2012
  4. Epic

    Epic

    My only argument against the LFPR is that it is easy to manipulate and doesn't factor in a changing workforce demographic. To me, the retirement age should be 60. We keep arbitrarily changing it for political reasons. So we have a rapidly retiring baby boomer population, many of whom aren't waiting till 65 to retire, and until they are 65 they are counted as unemployed by the LFPR.

    That just isn't a reliable stat. In times of economic prosperity that allows younger retirement, the LFPR would suggest a recession.

    U6 is the only thing that really matters to Joe America.
     
    #34     Feb 3, 2012
  5. Wallet

    Wallet

    To get welfare agreed, but if you can't pass a drug test to get a job, why am I paying your unemployment benefits.
     
    #35     Feb 3, 2012
  6. Epic

    Epic

    This type of situation is mostly accounted for in the stats. There are reports of average work week in hours and average hourly earnings.

    The bigger issue is people who want work but cannot find it.
     
    #36     Feb 3, 2012
  7. Lucrum

    Lucrum

    Exactly!
     
    #37     Feb 3, 2012
  8. Tsing Tao

    Tsing Tao

    Wasn't talking about stats there. I was pointing out that it's not a good thing.
     
    #38     Feb 3, 2012
  9. Tsing Tao

    Tsing Tao

    The LFPR claims it does not count retired persons no matter what the age. So I'm having trouble with your argument.
     
    #39     Feb 3, 2012
  10. Epic

    Epic

    Well, I'm not certain that I trust their ability to determine what portion of people 55-65 are voluntarily retired and still working just to stay active.

    Anyway, we can drop that aspect and only consider the student and female demographics. Recessions dramatically effect the flow of students and females into and out of the workforce. It is much harder for the LFPR to paint an accurate employment situation as a headline number. During a recession, as household income drops, more students and housewives enter the workforce at the very time that there are fewer jobs to go around resulting in a massive LFPR drop. This suggests a much bleaker picture than is actually the case. The opposite is true during expansion.
     
    #40     Feb 3, 2012