Unemployment and Participation Rate

I'd be interested to know how many of that 347,000 just decided to retire instead of look for more work.  Our workforce and population in general is certainly aging as the baby boomers are well into retirement age, with all of them getting there in the next 5-10 years.

They do address that question though without specific numbers.  

"Some of the decline in the participation rate can be attributed to changing demographics, since many baby boomers are retiring and dropping out of the work force.

But most of the low participation rate is due to the weakness in the job market. For instance, only a third of teenagers are either working or looking for work, putting the participation rate for that age group at one of the lowest levels on record."

Yeah, that report is definately lacking some numbers that could have a bearing on how bad the problem really is.  Now way I buy the idea that teenagers can't find work....my 16 year old has his pick of 4 jobs this summer, and each prospective employer is offering incentives if you can refer a friend.  Personally, I have noticed that a lot of teenagers don't work and have no plans to work, unlike my generation when it seemed we all had summer and after school jobs.  If you're a teenager and you can't find a job you're not looking, or you just think it's below you to take the jobs that are available.

Originally posted by JoshR

Originally posted by velocomp

Originally posted by Left Brain

I'd be interested to know how many of that 347,000 just decided to retire instead of look for more work.  Our workforce and population in general is certainly aging as the baby boomers are well into retirement age, with all of them getting there in the next 5-10 years.

They do address that question though without specific numbers.  

"Some of the decline in the participation rate can be attributed to changing demographics, since many baby boomers are retiring and dropping out of the work force.

But most of the low participation rate is due to the weakness in the job market. For instance, only a third of teenagers are either working or looking for work, putting the participation rate for that age group at one of the lowest levels on record."

There is another possible explanation. My wife will not be working after this school year is over. She is going to be home watching our two kids. If you'll notice the last time the participation rate was this low, women had just started to enter the workforce. I'm sure that it is a combination of that plus people dropping onto welfare or disability and people retiring. As LB would say though, "buy more stocks"

Oh Josh......you missed ~ 30% gain on your investment last year if you stayed out of the stock market......just a reminder.

You have to know the make up of the people that gave up to understand. It does not mean all those folks are on welfare. I'm sure many many two income households are now down to one. I'm sure many many of those are now living at a standard much much lower than what they used to be at. Many also bump into the age old problem of work vs. day care. If lower income jobs are all they can find, and it does not pay for both parents to be working, then one stays home.

So you just can't say unless you know who those folks are that gave up.

One thing for certain is that our country shed jobs to overseas labor forces that were cheaper than ours and we are not getting them back. Companies relocated overseas to get away from taxes, regulations, and labor costs. We are not the manufacturing giant of yesterday, and the rest of the world can get plenty of stuff elsewhere. That is a major problem. We are shifting to a consumer based economy and have been for a while.

Sorry, I'm not buying it.  If what you are saying is true, and what they are saying is true (that the number of people in the workforce is now below levels seen in 1978, wouldn't that correlate to a drop in population (which definitely hasn't happened)?  If the percentage is down to what it was in 1978, then what you suggest could easily be true.  

Yeah?  Compared to who?  The last I checked, people were still coming here from other countries.....but nobody is leaving.  Maybe you could start a trend.

We're not sucking at all here.......in fact, life if pretty damn good.....and so is this country.

I'm not getting 1978. Bottom line is that post industrial revolution and WWII, we will never see the expansion of our economy as it was then. The only real thing we can do is contract from being the sole country supplying 75% of the worlds goods post WWII. We now have competition. And our leisurly lifestyle and awsome standard of living has given way to entertainment and consumer based economy. Hard to bring dollars into the country when nobody is buying as they once did.

I would not equate:

"murder rate per capita" and "safety."

or "healthcare cost compared to gdp" and "healthcare"

But would agree that our country could suck less.  Of course, I would agree that all countries could suck less. 

Ah....numbers....great.  Show me all of the categories together, and each country's scores.  It's kind of like a triathlon, huh?  I can be 10th in the swim, 7th on the bike, and 8th ont he run and still win the race.  I don't care much for statistics.......I like experience. 

Here's what I know.....if Madrid gets leveled by an earthquake tomorrow, our country will come running, and will provide more aid than any country on the planet.  Not only that, the rest of the world will expect it.

I have been outside the U.S. on occasion, but really don't enjoy it that much (it's always my wife's idea)......there's alot of this country I want to see before I spend too mcuh time outside it.  What I do get is quite a a bit of time talking to people who have come here from other countries as refugees.....and I hear an overwhelming appreciation for this country and the opportunity it still affords everyone......no matter how much whining you hear.  My firends in Canada all come here for medical care.....I bet they're higher on your list.  Math scores?  Uh......we seem to be doing fine with technology.  Education?  Our Universities are filled with people from other countries....go figure.

My family if firmly middle class....we're not victims of anything, mostly because we just go about our business and figure our lot in life is mostly up to us.  It's avalue intsilled by my great grandparents on both sides, who immigrated here themselves. 

I believe I live in the greatest country on the planet......if I didn't I would move.  If we have a fault today it's that we listen too much to the whiners, and the people who think we should dumb ourselves down to the least common denominator because it somehow makes them feel bigger by doing it.  I don't buy it.

Herfe's one for charitable aid..........5th huh?  Numbers, ya know......i can find them too.  

http://en.wikipedia.org/wiki/List_of_governments_by_development_aid

Originally posted by gr33n I was referring to private not government.

And I was talking about our govt.....because, you know, we suck as a country.

Just to touch on a few points here.  Yes we have been sucking.  The number of people on food stamps, wellfare and other entitlements has risen dramatically.  That sucks.

A lot of advances come out of our country true, but when fewer people are working and so many people are unemployed that means that only the best and brightest are succeeding.  That sucks.

Healthcare, while you may not know people that leave this country for healthcare, there have been many articles and even 60 minutes stories on people going elsewhere for healthcare and dental work because of costs.  That sucks.

We need to teach these people to fish.  Teach them the drive to succeed. And stop pampering the "lazy".  Yes, I know people get upset when we use the term lazy, but it is early and I didn't want to think of an alternative.  Guess I'm lazy too.  But at least I work hard, have a good job and am accountable for myself.  Wish we all could be that way...