Politics Hurrah, unemployment is low

Discussion in 'The Howard Stern Show' started by SouthernListen, Jan 4, 2016.

  1. SouthernListen

    SouthernListen I don't follow the crowd. Sorry about that. VIP

    Reputations:
    240,697
    Joined:
    Jan 16, 2012
    Messages:
    38,743
    Likes Received:
    39,494
    How come more people are retiring in their early 20s? Why are middle-age men becoming stay-at-home dads? What's keeping women out of the workforce other than illness, kids or school?

    Those are some of the questions raised in a new Bureau of Labor Statistics report that shows changes over the past decade in why people stay out of the labor force. Finding answers is key for the Federal Reserve as it maps the contours of a job market that's becoming harder to predict with the aging of the baby boomers and shifting household priorities.

    Here's what the bureau found, broadly: Thirty-five percent of the U.S. population wasn't in the labor force in 2014, up from 31.3 percent a decade earlier. (You're considered out of the workforce if you don't have a job and aren't looking for one. That's distinct from the official unemployment rate, which tracks those out of work who are actively job hunting.)


    Drilling down into the numbers reveals more about the shifts in the reasons some people forego a paycheck. In all age groups, for instance, more people cited retirement as the reason for being out of the labor force, and it wasn't just older people.

    For Americans between the ages of 20 and 24, the share of those sidelined over the past decade because they were in school increased, unsurprisingly, during the decade that included the Great Recession. What's more unusual is that the share of 20- to 24-year-olds who say they're retired doubled from 2004 to 2014.

    [​IMG]

    Other reasons for not working are also on the rise. More men between 25 and 54 cited home responsibilities, while women of the same age range increasingly point to illness or school as the leading cause. The data also show, perhaps not surprisingly, that men and women without a high-school diploma are more than three times as likely to be out of the workforce than their peers with a college degree.

    Demographic changes aren't the only pieces of the puzzle that have changed the employment landscape since 2004. The BLS report showed that among male veterans between 25 to 54 years old, the number who reported a service-connected disability rose to 1.2 million in 2014, from 726,000 in 2003. That rise coincides with U.S. military combat in Iraq and Afghanistan.


    Fewer people willing or able to take a job might eventually cause a shortage of workers, leading to surge in wages and longer-term inflationary pressures, according to Princeton University economist Alan Blinder, a former Fed vice chairman.

    "We're going to be running out of labor as we go through time,'' Blinder said on Bloomberg Television Dec. 31.

    Understanding why people aren't in the workforce -- and whether it's permanent or temporary -- is important for the Fed. Policy makers are trying to estimate remaining slack in the labor market and the outlook for inflation as they weigh the timing of the next interest-rate increase.

    But as Chair Janet Yellen told a press conference on Dec. 16, after the central bank lifted rates for the first time since 2006, it may be a while before Fed policy has to contend with an actual labor shortage.

    "The labor-force participation rate is still below estimates of its demographic trend, involuntary part-time employment remains somewhat elevated, and wage growth has yet to show a sustained pickup,'' she said.

    Officials will get more information when the Labor Department releases December's payroll report on Friday. Economists surveyed by Bloomberg News expect that employers added 200,000 last month, compared with 211,000 in November, while unemployment rate probably stayed at 5 percent.
     
    Head Censor likes this.
  2. CrucifiedAGT

    CrucifiedAGT He's Around VIP

    Reputations:
    335,652
    Joined:
    Nov 23, 2013
    Messages:
    11,711
    Likes Received:
    24,634
    Its getting worse.

    GM sees car ownership falling. Car ownership?

    G.M., Expecting Rapid Change, Invests $500 Million in Lyft

    http://www.nytimes.com/2016/01/05/technology/gm-invests-in-lyft.html

    The alliance with G.M. is surprising because automakers could consider ride-hailing companies like Lyft as long-term threats to auto sales. In an interview, Mr. Ammann said that G.M. wanted to be part of the changing business models in transportation.

    “We think there’s going to be more change in the world of mobility in the next five years than there has been in the last 50,” he said.


     
    Head Censor, PI Nate and 1Vegasgirl like this.
  3. TallTyrion

    TallTyrion Triggered like a mofo VIP

    Reputations:
    153,136
    Joined:
    May 14, 2013
    Messages:
    16,454
    Likes Received:
    34,368
    This gives the lefties a woody that we won't have these carbon emissions to worry about.
    I guess nobodies been to LA.....
     
  4. Vincenzo69

    Vincenzo69 Well-Known Member

    Reputations:
    69,363
    Joined:
    Oct 23, 2015
    Messages:
    14,182
    Likes Received:
    17,823
    How come Obama created 9.5 million jobs after inheriting the worst recession since WW2?


    Don't worry trump will take back all the jobs from China by nullifying contracts just cuz he said so.
     
    Muffler likes this.
  5. Divorce Chicken

    Divorce Chicken white punk on dope VIP

    Reputations:
    139,502
    Joined:
    Jan 24, 2012
    Messages:
    14,179
    Likes Received:
    31,299
    [​IMG]
     
  6. YodaQuiversStern

    YodaQuiversStern Turn and face the strange

    Reputations:
    53,220
    Joined:
    Sep 24, 2015
    Messages:
    3,945
    Likes Received:
    8,781
    Now it's 9.5? Less than a week ago, you said Obama created 8 million jobs...did he create another 1.5 million while vacationing in Hawaii this past week?!?
     
  7. CrucifiedAGT

    CrucifiedAGT He's Around VIP

    Reputations:
    335,652
    Joined:
    Nov 23, 2013
    Messages:
    11,711
    Likes Received:
    24,634
    Sad Trombone Wah Wah

    [​IMG]
     
  8. Divorce Chicken

    Divorce Chicken white punk on dope VIP

    Reputations:
    139,502
    Joined:
    Jan 24, 2012
    Messages:
    14,179
    Likes Received:
    31,299
    It's the "if you like your doctor, you can keep your doctor/everyone will save $2,500 BS". If you repeat it enough, people will believe it.
     
  9. TallTyrion

    TallTyrion Triggered like a mofo VIP

    Reputations:
    153,136
    Joined:
    May 14, 2013
    Messages:
    16,454
    Likes Received:
    34,368
    it's just like the opinion polls. It depends on who you ask.

    Statisticians can make any numbers look good for their cause.
     
    R.P. McMurphy and Head Censor like this.
  10. AmishGirl

    AmishGirl Well-Known Member VIP

    Reputations:
    147,231
    Joined:
    May 12, 2012
    Messages:
    24,442
    Likes Received:
    20,806
  11. joe361

    joe361 Well-Known Member

    Reputations:
    196,018
    Joined:
    Jan 4, 2012
    Messages:
    4,665
    Likes Received:
    4,283
  12. PI Nate

    PI Nate Disenfranchised since 1984... Gold

    Reputations:
    271,786
    Joined:
    Mar 4, 2011
    Messages:
    52,363
    Likes Received:
    52,301
    Like votes, the numbers aren't important. Who is doing the counting is.
     
  13. TallTyrion

    TallTyrion Triggered like a mofo VIP

    Reputations:
    153,136
    Joined:
    May 14, 2013
    Messages:
    16,454
    Likes Received:
    34,368
    That's why I'm still thinking that Trump gets jobbed by the Rove crowd before the convention.
     
    Head Censor, Javaforgotme and PI Nate like this.
  14. PI Nate

    PI Nate Disenfranchised since 1984... Gold

    Reputations:
    271,786
    Joined:
    Mar 4, 2011
    Messages:
    52,363
    Likes Received:
    52,301
    Jobbed is one thing, I seriously doubt he would be allowed to get into office.
     
    Honkey Donkey likes this.
  15. scoobyla

    scoobyla Well-Known Member

    Reputations:
    35,238
    Joined:
    Oct 29, 2013
    Messages:
    10,800
    Likes Received:
    8,083
    yeah
    or worse, if u dont want someone elses cause to look good
     
  16. TallTyrion

    TallTyrion Triggered like a mofo VIP

    Reputations:
    153,136
    Joined:
    May 14, 2013
    Messages:
    16,454
    Likes Received:
    34,368
    that's what I mean. They will attempt to eff him with their dirty tricks. They have some experts already looking I'll bet.
     
    Honkey Donkey likes this.
  17. Javaforgotme

    Javaforgotme Well-Known Member Banned User

    Reputations:
    30,103
    Joined:
    Jul 20, 2013
    Messages:
    2,904
    Likes Received:
    6,277
    It's gonna be interesting. Like Thor fighting Loki.
     
  18. SouthernListen

    SouthernListen I don't follow the crowd. Sorry about that. VIP

    Reputations:
    240,697
    Joined:
    Jan 16, 2012
    Messages:
    38,743
    Likes Received:
    39,494
  19. Gigashadow

    Gigashadow Well-Known Member Banned User

    Reputations:
    26,437
    Joined:
    Sep 30, 2015
    Messages:
    1,145
    Likes Received:
    1,601
    Millennials don't give a shit about driving anywhere. Worthless bags of feces.
     
  20. Chicken Soda

    Chicken Soda Unknown Member

    Reputations:
    52,592
    Joined:
    Aug 15, 2014
    Messages:
    5,942
    Likes Received:
    9,982
    Our government is continuing to push for long term home ownership, DESPITE the fact we live in a economy that requires more mobility between jobs.
     
    AmishGirl likes this.