Economist: Unemployment low because labor participation is low

Discussion in 'News / Current Events' started by Revmitchell, Jul 4, 2014.

  1. Revmitchell

    Revmitchell
    Expand Collapse
    Well-Known Member

    Joined:
    Feb 18, 2006
    Messages:
    38,332
    Likes Received:
    786
    University of Maryland economist Peter Morici argued that the unemployment rate “is really low right now because of a low adult participation rate” on Thursday’s “MSNBC Live.”
    Further he argued that unemployment would be much higher if the participation rate was where it was when President Barack Obama took office.
    “If we were at the level [of labor force participation] that we were at when Mr. Bush took office, it would be 12% unemployment, and when Mr. Obama took office, 10,” Morici said.


    http://www.breitbart.com/Breitbart-...oyment-Low-Because-Labor-Participation-Is-Low
     
  2. thisnumbersdisconnected

    thisnumbersdisconnected
    Expand Collapse
    New Member

    Joined:
    Apr 11, 2013
    Messages:
    8,448
    Likes Received:
    0
    AAAAAAAAaaaannnnnddddd ....

    Cue ITL!!!!

    :laugh:
     
  3. InTheLight

    InTheLight
    Expand Collapse
    Well-Known Member

    Joined:
    Dec 17, 2010
    Messages:
    16,227
    Likes Received:
    615
    Yes, cue ITL. And I'm sure the two of you will like the source.

    June's unemployment rate decline was the result of jobless workers finding positions, not because of people quitting the job hunt. The labor force participation rate -- the share of Americans with jobs or looking for work -- remained steady at 62.8 percent. Labor force participation remains near the lowest level since the late 1970s, reflecting both long-term demographic changes and cyclical weakness in the labor market.

    Underemployment also decreased in June. The U-6 unemployment rate, a measure that includes not only the unemployed but also those forced into part-time work and people working intermittently, ticked down from 12.2 to 12.1 percent. Over the past year, the U-6 rate has declined by almost two full percentage points.

    The household survey also indicated improvement in long-term unemployment, which at roughly a third of total unemployment remains unusually high. The number of those out of work for 27 weeks or longer fell by 293,000, to 3.1 million. Over the past year, the ranks of the long-term jobless have fallen by 1.2 million.


    http://washingtonexaminer.com/junes...ig-concern-about-the-recovery/article/2550465
     
  4. InTheLight

    InTheLight
    Expand Collapse
    Well-Known Member

    Joined:
    Dec 17, 2010
    Messages:
    16,227
    Likes Received:
    615
    Fewer U.S. job seekers give up the search

    Fewer Americans are giving up on the job search because they’re discouraged by their prospects.

    The fine print of Thursday’s cheery U.S. jobs report revealed that the number of people who are not looking for a job because they don’t think they can find one has fallen by 351,000 in the past 12 months.

    Those who aren’t actively looking for a job don’t count as unemployed in government labor statistics. As the unemployment rate has fallen, a common concern has been that the number misrepresents the reality of the job market, because the ranks of discouraged workers rose as high as 1.3 million in 2010. That figure has fallen to 676,000.


    http://www.startribune.com/business/265776341.html
     
  5. thisnumbersdisconnected

    thisnumbersdisconnected
    Expand Collapse
    New Member

    Joined:
    Apr 11, 2013
    Messages:
    8,448
    Likes Received:
    0
    And I'm sure you'll like this one, too, posted last night on The WaPo website and on the streets in print today.
    Then there's this from a report earlier in the year:
    Note, this report came out in April. Full-time jobs that do exist pay far less than the ones lost in the recession. Add the one million part-time jobs added in June, and you have a crisis on your hands. People are being forced to migrate from full-time to part-time work, and it won't pay the bills. This is a recipe for another economic disaster of far greater proportions than 2008-09.

    Stick a fork in it, ITL. You're done. Your arguments are nothing but hot air and Kool-Aid.
     
    #5 thisnumbersdisconnected, Jul 4, 2014
    Last edited by a moderator: Jul 4, 2014

Share This Page

Loading...