RECORD 94,031,000 PEOPLE NOT IN LABOR FORCE

The number of people not in the labor force exceeded 94 million for the first time, hitting another record high in August, according to new jobs data released Friday by the Bureau of Labor Statistics.

The BLS reports that 94,031,000 people (ages 16 and over) last month were neither employed nor had made specific efforts to find work in the prior four weeks.

The number of individuals out of the civilian work force represented a jump of 261,000 over July’s record of 93,626,000 people.

August’s labor force participation rate remained at the same level as the prior two months at 62.2 percent, the lowest level seen since October 1977 when the participation rate was 62.4 percent.

The civilian labor force also experienced a slight decline of 41,000 people, compare to July’s 157,106,000 people in the civilian labor force to 157,065,000.

In total 149,036,000 people were employed in August, 8,029,000 were unemployed, and 5,932,000 people who wanted a job.

Overall the Labor Department reported that the economy added 173,000 jobs in August. The unemployment rate was 5.1 percent, lower than July’s 5.3 percent.

Via: Breitbart

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JOBS DATA: 92,986,000 PEOPLE NOT IN THE WORKFORCE

The month of May saw 92,986,000 people not participating in the workforce, according to new data released Friday by the Bureau of Labor Statistics reveals.

May’s total represented slight decline compared to last month’s record, which saw 93,194,000 people outside the workforce.

The BLS defines those not in the labor force as people ages 16 and older who are neither employed nor “made specific efforts to find employment sometime during the 4-week period ending with the reference week.”

The labor force participation rate came in at 62.9 percent, a slight uptick compared to April’s 62.8 percent.

According to the BLS, the civilian labor force itself rose by 397,000, reaching 157,469,000 in May.

Of those participating in the workforce, 148,795,000 had a job and 8,674,000 were unemployed.

The overall unemployment data from the BLS saw payroll employment rise in June by 280,000 and the official jobless rate at 5.5 percent.

Via: Breitbart

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1,154,000 Fewer Americans Working Today Than 6 Years Ago

(CNSNews.com) - 1,154,000 fewer Americans are working today than six years ago, according to data from the Bureau of Labor Statistics.

In January 2008, 146,378,000 Americans 16 and over were employed, and now in January 2014, 145,224,000 are employed, a difference of 1,154,000.

91,455,000 Americans 16 or older did not participate in the nation’s labor force in January, meaning they neither held a job nor actively sought one. That's a 353,000 decline from December, but 172,000 more than November.

The national labor force participation rate -- the share of Americans who had a job or were actively looking for one -- ticked up to 63 percent in January, from 62.8 percent in December.

In January, according to BLS, the nation’s civilian non-institutional population, consisting of all people 16 or older who were not in the military, a nursing home or other institution, reached 246,915,000 (number not seasonally adjusted). Of those, 155,460,000 participated in the labor force by either holding a job or actively seeking one.

The 155,460,000 who participated in the labor force equaled only 63.0 percent of the 246,915,000 civilian non-institutional population.

Via: CNS News

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WEAK: JUST 169,000 NEW JOBS CREATED IN AUGUST, BAD DOWNWARD REVISIONS, LABOR FORCE PARTICIPATION RATE FALLS

There were just 169K new jobs created in August.

Private payrolls came in at 152,000 new jobs vs. expectations of 180,000.

What's worse. Last month was revised SHARPLY down from 162 to 104K. That is quite ominous.

June was also revised down, from 172K to 188.

The unemployment rate did, however, drop to 7.3%, but that's basically just due to continued exodus from the workforce.

The participation rate fell to 63.2% from 63.4%.

Snap reaction: this could delay the Fed's drive to reduce the pace of bond buying. The consensus had been that starting in September, the Fed would begin the so-called "taper" but right now the market is calling that bluff. Gold is surging, the dollar is tumbling, the US 10-year is seeing yields go down. And stocks are actually rising.

You can read the full report from the BLS here.

Via: Business Insider

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Not Looking for Work: Why Labor Force Participation Has Fallen During the Recession

Abstract

The post-recession economy has undergone the slowest recovery in 70 years. In addition to more than 8 percent unemployment, labor force participation has fallen sharply since the recession began in December 2007. Today, 6.4 million fewer Americans are working or searching for work. The drop in unemployment since 2009 is almost entirely due to the fact that those not looking for work do not count as unemployed. Demographic factors explain one-quarter of the decreased labor force participation. The rest comes from increased school enrollment and more people collecting disability benefits. Six percent of U.S. adults are now on disability insurance. This is no time to make it more difficult for businesses to create jobs.

The American economy is experiencing the slowest recovery in 70 years. In addition to persistently high unemployment, labor force participation has fallen sharply since the recession began in December 2007. Today, 6.4 million fewer Americans are working or looking for work. This drop accounts for virtually the entire reduction of the unemployment rate since 2009—those not looking for work do not count as unemployed.

Demographic changes explain approximately one-quarter of the drop in labor force participation. The baby boomers are aging and thus more likely to retire, dropping out of the labor force. The remaining drop in participation primarily comes from millions more people going on disability insurance or attending school. While those enrolled in school will probably return to the labor force, those going on the disability rolls will not. They will remain permanently outside the labor force.

 

Via: Heritage

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