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Old 03-04-2014, 11:03 AM  
Cochise Cochise is offline
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Labor force participation at 35 year record low

Labor Force Participation in 2013 Lowest in 35 Years
March 3, 2014 - 4:20 PM
By Ali Meyer

(CNSNews.com) - The average annual labor force participation rate hit a 35-year-low of 63.2 percent in the United States in 2013, according to data from the Bureau of Labor Statistics (BLS).

The last time the average annual labor force participation rate was that low was in in 1978, when it was also 63.2 percent. Jimmy Carter was president then.


The BLS bases its employment statistics on the civilian noninstitutional population, which consists of all people in the United States 16 or older who are not on active duty in the military or in an institution such as a prison, nursing home or mental hospital. The labor force participation rate is the percentage of people in the civilian noninstitutional population who either had a job or who actively sought one in the previous four weeks.



The 63.2 percent average annual labor force participation rate for 2013 means that in the average month of 2013 only 63.2 percent of the civilian noninstitutional population held a job or actively sought one.

The BLS has been tracking the labor force participation rate since 1947, when it was 58.3 percent. Over five decades, it climbed to a peak of 67.1 percent in 1997--a rate it maintained in 1998, 1999, and 2000.

As the civilian noninstitutional population has increased and the labor force participation rate has dropped, the number of people not in the labor force has climbed to record highs. In 2000, there was an annual average of 69,994,000 Americans not in the labor force. By 2013, there was an annual average of 90,290,000 not in the labor force.

In January 2014, according to BLS, there were 92,535,000 not in the labor force.



Unemployed people, as calculated by BLS, are people who participated in the labor force by actively looking for a job, but did not find one. The unemployment rate is the percentage of the people in the labor force who are “unemployed."

In 2013, according to BLS, there was an annual average of 245,679,000 in the civilian noninstitutional population. On average, 155,389,000 (or 63.2 percent) of those people participated in the labor force. Another 90,290,000 (or 36.8 percent) of them did not have a job or actively seek one--and, thus, were not in the labor force.

Of the 155,389,000 in the labor force, 143,929,000 had jobs, and 11,460,000 (or 7.4 percent) actively sought jobs and did not find them, making them unemployed.
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Old 03-04-2014, 11:09 AM   #2
cosmo20002 cosmo20002 is offline
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I realize that this is a statistic, but it seems fairly meaningless without some context. It appears that it has been dropping for over 10 years. Are boomers not retiring?
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Old 03-04-2014, 11:37 AM   #3
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Quote:
Originally Posted by cosmo20002 View Post
Are boomers not retiring?
Not this one...anytime soon...if ever...and I'm in better financial situation than 90% of the people I know...of course, being a conservative, they're all hillbillies.
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Old 03-04-2014, 12:14 PM   #4
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Quote:
Originally Posted by cosmo20002 View Post
I realize that this is a statistic, but it seems fairly meaningless without some context. It appears that it has been dropping for over 10 years. Are boomers not retiring?
It is completely meaningless without context.

The participation rate is likely to continue to trend down due to structural changes in the labor market (boomers retiring).
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Old 03-04-2014, 12:21 PM   #5
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Being a corporate recruiter I can tell you that boomers leaving is a big part of this. It would have been a sharper decline if there wasn't a major recent economic collapse.
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Old 03-04-2014, 12:23 PM   #6
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Old 03-04-2014, 12:24 PM   #7
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Quote:
Originally Posted by KC native View Post
It is completely meaningless without context.

The participation rate is likely to continue to trend down due to structural changes in the labor market (boomers retiring).
This is certainly true but it doesn't mean it is completely meaningless or can be dismissed. To do so is just as inaccurate as the people who don't acknowledge those structural changes.

The fact is more that the labor market is worse than unemployment numbers indicate but not as bad as the labor force participation rate indicates.
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Old 03-04-2014, 12:26 PM   #8
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Quote:
Originally Posted by AustinChief View Post
This is certainly true but it doesn't mean it is completely meaningless or can be dismissed. To do so is just as inaccurate as the people who don't acknowledge those structural changes.

The fact is more that the labor market is worse than unemployment numbers indicate but not as bad as the labor force participation rate indicates.

http://chiefsplanet.com/BB/showthread.php?t=281645

This thread is a pretty accurate discussion of where the labor market is.

Any one employment statistic on its own is meaningless. To have a picture of what is going on, you have to look at all of them.
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Old 03-04-2014, 12:38 PM   #9
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Quote:
Originally Posted by AustinChief View Post
This is certainly true but it doesn't mean it is completely meaningless or can be dismissed. To do so is just as inaccurate as the people who don't acknowledge those structural changes.

The fact is more that the labor market is worse than unemployment numbers indicate but not as bad as the labor force participation rate indicates.
So, what you're saying is that fairplay's statement is dumb and that Cochise is kind of retarded for posting this with a provocative thread title yet without any context.

That's a little harsh of you to say that, but I kind of agree.
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Old 03-04-2014, 12:44 PM   #10
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Jobs, Labor Force 2000: 135.8m / 141.5 (96.0%)
Jobs, Labor Force 2013: 144.5m / 154.9 (93.2%)


There were 13.4M more people in the labor force but only 8.7m of them were lucky and got jobs. In other words, over 1/3 of them are frozen out.

http://www.bls.gov/news.release/hist...t_01052001.txt
http://www.bls.gov/news.release/arch...t_01102014.htm
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Old 03-04-2014, 12:45 PM   #11
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Quote:
Originally Posted by cosmo20002 View Post
So, what you're saying is that fairplay's statement is dumb and that Cochise is kind of retarded for posting this with a provocative thread title yet without any context.

That's a little harsh of you to say that, but I kind of agree.
Um. no. I am not saying that, nice try though.
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Old 03-04-2014, 01:06 PM   #12
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Quote:
Originally Posted by Prison Bitch View Post
Jobs, Labor Force 2000: 135.8m / 141.5 (96.0%)
Jobs, Labor Force 2013: 144.5m / 154.9 (93.2%)


There were 13.4M more people in the labor force but only 8.7m of them were lucky and got jobs. In other words, over 1/3 of them are frozen out.

http://www.bls.gov/news.release/hist...t_01052001.txt
http://www.bls.gov/news.release/arch...t_01102014.htm
All would be solved if we legalize all the undocumented and all those are thrown into the worker pool. That'll create a glut of workers which........ Wait.......... Snap!!! Nevermind.
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Old 03-04-2014, 01:12 PM   #13
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What exactly are those extra 5 million folks doing? Do they sit at home all day and watch Oprah, are they just wandering the streets? Can't be cause I never see them. Just curious to know what they all do now.


They are not retired boomers so don't bother with that nonsense.
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Old 03-04-2014, 01:20 PM   #14
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Quote:
Originally Posted by AustinChief View Post
Um. no. I am not saying that, nice try though.
You should be saying that.
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Old 03-04-2014, 01:20 PM   #15
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Quote:
Originally Posted by Prison Bitch View Post
What exactly are those extra 5 million folks doing? Do they sit at home all day and watch Oprah, are they just wandering the streets? Can't be cause I never see them. Just curious to know what they all do now.


They are not retired boomers so don't bother with that nonsense.
Xbox One or PS4
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