New Unemployment Data Reveals a Depressing State of Affairs



Comments (12)

  1. Camille says:

    This new phenomenon might be due to part time jobs, which decreases the unemployment rate and impedes people for looking at real full time jobs.

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  2. Angelo reina says:

    If there was a way to obtain the data a better indicator would be what % of the available working population is actually working. This would eliminate the bogus unemployment numbers.

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  3. David Deputy says:

    Aside from the labor participation rate contuning to drop I expect that if the true number of folks not working were known the rate would be closer to 20% of the labor force. What happens to the people that opt out of the labor market. How do they survive and get by?

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  4. Kate. S says:

    I’m not an expert but “always” is a very tricky word to use. The chart appears to show a flattening of the curve starting 1992 when the participation rate barely rose. Then a clear decline in participation in 2000’s. An increasing decline now, post 2009. “Always” seems to have morphed into “always before 1992”. Are changing demographics (lower birth rates + increasing retirement of baby-boomers) and global trade (Clinton-era trade deals) driving the change as much as economic policy responsible for the changes?

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  5. Robert says:

    This article doesn’t suggest that there is any censoring for aged populations. “Turns out, the number of Americans 16 years or older who have decided not to participate in the nation’s labor force increased by another 136,000 in September.” How many of those were 65+?

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    Joseph Reply:

    Robert, you’re all over it. There are 40 million more baby boomers retiring than Gen Y’s entering the workforce over some window of time (seems like it was a 10 year window, but I can’t recall specifically). Maybe Lou can easily provide that data. There is absolutely truth in numbers, but we must understand what the numbers are.

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  6. David Armstrong says:

    I’m retired and working P.T. at a big box store. The company has instituted a hire P.T. only hiring policy and less than 29 hours per week. They are hiring these new young people at minimum wage or just a bit above just to have warm bodies out on the floor. The company is cutting hours for the older higher paid workers to the bone even though we are entering our busy time of the year. They are doing everything they can to get rid of the older workers even if they are P.T. with no benefits. Welcome to utopia!

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  7. Dan says:

    I just wonder if anybody still thinks that exporting all the jobs to China and Asia was a great idea. The government should have protected the interest of the USA even if it means administrative measures to avoid exporting jobs and technologies.

    In any case the title seems to be a bit too hard. The statistical measure is used as always I don’t think that there was any intention to deceive.

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    michael g. Reply:

    Between China, Mexico, and Walmart our economy has gone down the toilet. Millions of jobless people here in the States would now be working were it not for all the jobs going overseas. Top it off with the criminal Obama-scare and our government spying on every aspect of our lives. We are now all living in Orwell’s 1984. This is the genocide of the Baby Boomers.

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  8. Edouard d'Orange says:

    I am shocked, truly shocked, that Basenese has written an article that doesn’t paint a rosy economic picture. He has been touting the “great” news of the housing “recovery” and “booming” economic growth. The rising stock market indices are undeniable, but there has been no balance in his analyses. Finally, this article which shows the statistical deception and the depressing state of affairs (his words).

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  9. Tim says:

    Why are people leaving work force in record numbers? Have you seen the fraud going on in social security disability and the huge growth in government dependency programs?

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    RichJ.H. Reply:

    They are promoting dependency on government programs! Who wants to bring in our deficit spending? NOT the current administration!

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