LPR

Record Low Labor Participation Rate Not Due to Retirement or School

The October unemployment report showed a record low labor participation rate of 62.8%, graphed below.  Many dismiss these record low labor participation rates by claiming more people are retiring and young people are just in school.  Is this true or is something more sinister going on?

October Unemployment Report Shows Almost a Million Drop Out of Labor Force

There were 932,000 more people considered not in the labor force for October 2013 according to the BLS employment report.  The labor participation rate plummeted to a new low of 62.8%.   Happy belated Halloween America for the these are some crazy unemployment statistics that are one big scary surprise.  While the month to month household survey figures vary greatly as a general rule, there is no government shutdown effect to explain away the monthly cliff dive of people no longer counted as part of the labor force this month.

Unemployment is a Flat Line No Change for September 2013

America's employment is the same as last month and we might look at the BLS report telling us, Doctor, the patient is still dead.  Someone bring the crash cart for employment in America needs to be resuscitated.  The BLS employment report shows the official unemployment rate declined a percentage point to 7.2%.

Unemployment Rate Drops On Over Half a Million More Not In Labor Force

The BLS employment report shows the official unemployment rate declined a percentage point to 7.3% as over half a million people dropped out of the labor force.  The labor participation rate just hit a low not seen since August 1978.  Less people were employed as well.  People dropping out of the labor force is no way to lower an unemployment rate, yet this is what is going on, five years eight months after the start of the Great Recession.

About the 7.4% Unemployment Rate for July 2013

The BLS employment report shows the official unemployment rate declined two percentage points to 7.4%, mainly on a lower labor participation rate and more people being considered not part of the labor force.   This is the lowest official unemployment rate since December 2008 and at least a percentage point of the unemployment rate drop is due to the decline in labor force participation.  More people were employed as well.  People stuck in part-time jobs maintained their increases from last month.

CPS Employment Statistics Static for June 2013

The BLS employment report shows the official unemployment rate remained a static 7.6% and the current population survey unemployment figures are an unmoving pool of little changed this month.   More people were employed, yet the number of people stuck in part-time jobs ballooned from last month and the number of unemployed also increased slightly.

Unemployment Rate a Static 7.6% for May 2013

The BLS employment report shows the official unemployment rate ticked up 0.1 percentage point to 7.6% and the current population survey unemployment figures are a static pool of going nowhere fast statistics.   More people were employed, yet the number of people stuck in part-time jobs barely budged from last month and the number of unemployed also increased.  The labor participation rate increased 0.1 percentage points from the May 1979 record low.   U-6, a broader measure of unemployment, ticked down -0.1 percentage point to 13.8%.  Overall the CPS statistics look like an oscillating wave of stuck in neutral.

Unemployment Not Impressive for April 2013

The BLS employment report shows the official unemployment rate ticked down 0.1 percentage point to 7.5%, and the current population survey statistics are a mixed bag of strange.   More people were employed, yet the number of people stuck in part-time jobs continues to increase.  The labor participation rate stayed at the same May 1979 record low.   U-6, a broader measure of unemployment, ticked up 0.1 percentage point to 13.9%.

The Terrible Unemployment Figures of March 2013

The BLS employment report shows the official unemployment rate ticked down 0.1 percentage point to 7.6%, but not because people gained employment.  Instead the unemployment rate dropped due to less people participating in the labor market.  The labor participation rate just hit a record low, not seen since May 1979 when many segments of the population was still quite discriminated against in the workforce.   One cannot just blame retiring baby boomers for low labor participation rates  This article overviews and graphs the statistics from the Current Population Survey of the employment report.

Unemployment Rate 7.7% for February 2013, Long Term Unemployed Increased

The BLS employment report shows the official unemployment rate ticked down 0.2 percentage points to 7.7%.  While many cheer this report as a sign of recovery, the actual details are fairly ho hum.  This article overviews and graphs the statistics from the Current Population Survey of the employment report and the below graph shows how far off we are from 2008.   Don't let some fool you into thinking the job crisis is all over, it's not, not by a long shot.

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