Americans not participating in the labor force climbed from 89,957,000 to 90,473,000 from July to August, pushing past 90,000,000 for the first time with a one month increase of 516,000.
The figure climbed again to 90,609,000 in September, an increase of 136,000 during the month.
When President Barack Obama took office in 2009, there were 80,507,000 Americans not in the labor force. The number of Americans not in the labor force has increased by 10,102,000 during the current administration.
The percentage of the civilian non-institutionalized population - i.e., not in prison, jail or sanitarium - over 16 years of age that was employed also remained constant from August to September at 58.6 percent. When President Obama took office in January 2009, the employment-population ratio was 60.6 percent.
Why? One of the chief reasons for the increasing number of people not in the labor force is the aging of the Baby Boom generation, whose members have begun retiring. These workers are not being replaced by an equal number of young people entering the labor force."
I see this is as a sign of the direction we are going. To me this is unsustainable as an economy.
What do you think? Do you think this link explains a possible answer?
Ed Winkle
"I think the story in the link could help. as an American and a union person i feel obligated to do so. i try to find USA and union made first followed by USA made and on down the list with china being last on my list. it costs me a little more but you know the quality is there. i buy USA union made jeans. these jeans last me twice as long as the others.... now if i could just find some USA made insulated coveralls.... "
ReplyDeleteI think even THOSE numbers and explanations are rosier than the reality. No nation can last without manufacturing and we've sent nearly all of that overseas.
ReplyDeleteIt's actually called offshoring, not outsourcing (which could stay in the country), overseaing without overseeing, but the guy is essentially right, even if I don't know if his numbers are. It's also a bipartisan issue, or rather, a a-party issue that should concern everybody, and as Gorges said, I also think the situation in reality is worse, as it is not factories and jobs that disappeared, it is sometimes an industry critical to the future of the U.S., and it is also competencies and experience that wane or are wasted. I am thinking for instance of the solar technology, which is currently by far the energy sector that develops the most in the U.S. but where solar panel production is also by far a Chinese business, not an American one anymore. Even with the 40% tariff set on Chinese panel imports to encourage manufacturers, it's still a price difference of at least 50%, not just 5%.
ReplyDeleteAs much as I don't think these issues belong to any party in particular, they have been highly politicized, with mostly conservatives focusing on one Solyndra or Fisker failure forgetting about the billions spent on successful projects such as Tesla, or will accuse Obama of the increased unemployment instead of the employers or the consumers. Everything seems to be a pretext to a political fight these days. And I don't mean Obama or Bush or whoever is President during bad economical times do not have a part of this responsibility, but that I agree with the video that it starts at our level, from the consumer choice we make. I doubt many consumers are so politically aware though, or will change their behavior on their own, just like industries who are definitely aware of all these issues do not keep the jobs in America on their own, we have years of liberalism history to prove it. That's why I think bold and ambitious government policies have to be made too, and our political choices and votes are important. Cutting spending just for the sake of reducing the debt is for instance totally inadequate for the challenges we face, and can be only a small part in the whole reform that needs to take place. People who pretend that the economy will get better because of cutting spending alone are insulting the intelligence of voters, as it will take several decades to pay back the debt, even with a balanced budget, so obviously, we need to get started now on economical issues, just not financial ones, for things to get better.
I just know it's a very bad sign. I don't like it and there is little I can do about it but keep helping by creating jobs, teaching youngsters and leading by example.
ReplyDeleteThat doesn't seem to be near enough today.
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