New job numbers

[steelfingers]

Someone had to fill those jobs the foreigners were taking.
Mine, and other companies, can't fill the jobs that are open now. I was at a meeting this week, where a company was going to add 80 jobs. They wanted to add 100 but will be happy just to fill the 80. Businesses are growing with a lot of companies moving to Ok and Tx from Cali. HA!

 

[CHenry]

See, you aren't paying attention. I said the labor participation rate, not the unemployment rate. Those are two totally different things. Do you even know what you arguing about?

Well those 2 are kinda intertwined lol

 

[SlugSlinger]

Well those 2 are kinda intertwined lol

If you want to argue that, they are but with an inverse relationship. How can the labor participation rate set record lows (the number of people working compared to the population) under obama and the unemployment rate be a 4%ish? That means less people are working but the number of people being counted as employed is going up. Essentially, the number that is most meaningful is the labor participation rate not the unemployment rate.

 

[CHenry]

If you want to argue that, they are but with an inverse relationship. How can the labor participation rate set record lows (the number of people working compared to the population) under obama and the unemployment rate be a 4%ish? That means less people are working but the number of people being counted as employed is going up. Essentially, the number that is most meaningful is the labor participation rate not the unemployment rate.

I dont want to argue it, I've never had anyone put it like that. I'll ponder it a bit more.
But seems to me if unemployment drops, its pretty simple to say the participation rate is up.

 

[John6185]

People age 16 and older who are not institutionalized or in the military are counted as “not in the labor force” if they are neither working nor looking for work. I like that, the military are "institutionalized." I know we use our freedom but we aren't behind bars either but it was funny-at least to me with my sardonic sense of humor.
Anyway, I hope we can believe these labor figures more so that what we received during Obama's reign of terror. All too often we were told stories of those on seeking job vs those employed and they were outright lies as well other statistics instrumental with our economy.

 

[SlugSlinger]

I dont want to argue it, I've never had anyone put it like that. I'll ponder it a bit more.
But seems to me if unemployment drops, its pretty simple to say the participation rate is up.

Well, that kind of makes sense logically, but it's not reality. Obama had a low unemployment rate, but record low labor participation rate. The higher the labor participation rate, the more people as a percentage of the population is working.

 

[steelfingers]

This is all I say about the unemployment rate and let it go. This is getting testy.
Unemployment rates are like any data. It's skewed. It can be manipulated to say what you want.
It's just who you count and who you don't count. Chronic unemployed no longer looking for work. People that work off the books. Folks that are eligible for unemployment or accept benefits.....Just a laundry list of how to count.
China did the same thing for years. 100% employment. They just counted the starving people digging in garbage bins as farmers.

 

[dennishoddy]

Well, that kind of makes sense logically, but it's not reality. Obama had a low unemployment rate, but record low labor participation rate. The higher the labor participation rate, the more people as a percentage of the population is working.

Being retired and not looking for work puts me in the labor participation rate.

 

[SlugSlinger]

Being retired and not looking for work puts me in the labor participation rate.

I'm not sure about that. Looks like you are not employed or unemployed per the definitions below from the bls.
https://www.bls.gov/cps/cps_htgm.htm#unemployed

What are the basic concepts of employment and unemployment?
The basic concepts involved in identifying the employed and unemployed are quite simple:

• People with jobs are employed.
  
• People who are jobless, looking for a job, and available for work are unemployed.
  
• The labor force is made up of the employed and the unemployed.
  
• People who are neither employed nor unemployed are not in the labor force.

The survey excludes people living in institutions (for example, a correctional institution or a residential nursing or mental health care facility) and those on active duty in the Armed Forces. The survey is designed so that each person age 16 and over (there is no upper age limit) is counted and classified in only one group. The sum of the employed and the unemployed constitutes the civilian labor force. People not in the labor force combined with those in the civilian labor force constitute the civilian noninstitutional population 16 years and over. Under these concepts, most people are quite easily classified. For example, consider these fictional scenarios:

1. Elena reported to the interviewer that last week she worked 40 hours as a sales manager for a beverage company. Elena is employed.
2. Steve lost his job when the local plant of an aircraft manufacturing company closed down. Since then, he has been contacting other businesses in town trying to find a job. Steve is unemployed.
3. Linda is a stay-at-home mother. Last week, she was occupied with her normal household activities. She neither held a job nor looked for a job. Her 80-year-old father who lives with her has not worked or looked for work because of a disability. Linda and her father are not in the labor force.

 

[dennishoddy]

I'm not sure about that. Looks like you are not employed or unemployed per the definitions below from the bls.
https://www.bls.gov/cps/cps_htgm.htm#unemployed

What are the basic concepts of employment and unemployment?
The basic concepts involved in identifying the employed and unemployed are quite simple:

• People with jobs are employed.
  
• People who are jobless, looking for a job, and available for work are unemployed.
  
• The labor force is made up of the employed and the unemployed.
  
• People who are neither employed nor unemployed are not in the labor force.

The survey excludes people living in institutions (for example, a correctional institution or a residential nursing or mental health care facility) and those on active duty in the Armed Forces. The survey is designed so that each person age 16 and over (there is no upper age limit) is counted and classified in only one group. The sum of the employed and the unemployed constitutes the civilian labor force. People not in the labor force combined with those in the civilian labor force constitute the civilian noninstitutional population 16 years and over. Under these concepts, most people are quite easily classified. For example, consider these fictional scenarios:

1. Elena reported to the interviewer that last week she worked 40 hours as a sales manager for a beverage company. Elena is employed.
2. Steve lost his job when the local plant of an aircraft manufacturing company closed down. Since then, he has been contacting other businesses in town trying to find a job. Steve is unemployed.
3. Linda is a stay-at-home mother. Last week, she was occupied with her normal household activities. She neither held a job nor looked for a job. Her 80-year-old father who lives with her has not worked or looked for work because of a disability. Linda and her father are not in the labor force.

I'm the only one in my age group not working and not looking for work. some I run with being in their 70's are still working 30-40 hrs per week.
How does successful retirement planning for some, and no retirement planning for some figure into the labor participation rate?