30 ms·

Meanwhile, the laborforce participation of 63% remains lower than 2014. I remember a time, when there was a different president, that this number was constantly

Meanwhile, the laborforce participation of 63% remains lower than 2014. I remember a time, when there was a different president, that this number was constantly referenced as evidence of a poor recovery. If the labor market is so robust why aren't people joining the workforce? [1] https://data.bls.gov/timeseries/lns11300000 https://data.bls.gov/timeseries/lns11300000

lotsofpulp 8y ago
You would have to correct for older people aging out since they make up a greater portion of the population than before. https://www.census.gov/newsroom/blogs/random-samplings/2016/06/americas-age-profile-told-through-population-pyramids.html https://www.census.gov/newsroom/blogs/random-samplings/2016/... I would expect percentage of employed over age of 18 to be declining simply because the number of people retiring (or unable to work due to age) is greater than # of entering labor force.
- moorhosj 8y ago
  When you look at the numbers you will see that it isn't so simple and other factors clearly come into play (social security disability is likely one factor). For example, Georgia is the second youngest state with only 9.6% of the population over 65 years-old, but they have a below average laborforce participation rate of 62.8% [1]. Pennsylvania, with 15.6% of the population over 65 is the second oldest, but has a 62.9% participation rate. Iowa is the 4th oldest state and has the 6th highest participation rate (68.8). North Dakota is 5th oldest and 3rd highest rate (69.3%). South Dakota is 8th oldest and 7th in LFPR (68.7%). [1] https://www.bls.gov/web/laus/ststdsadata.txt https://www.bls.gov/web/laus/ststdsadata.txt [2] https://www.prb.org/whichusstatesaretheoldest/ https://www.prb.org/whichusstatesaretheoldest/
RPLong 8y ago
> If the labor market is so robust why aren't people joining the workforce? Because they don't need to work. They're not applying for unemployment and they're not taking jobs. So, logically, they're using their time on non-work-related activity. They're having fun, or otherwise doing stuff that they would rather do than work. The media has this terrible tendency to promote work as the primary marker of life success, which is a valid opinion, for sure, but it's not a universal one. Some people step out of the workforce because they can, and good for them. I expect the wealthier our society becomes, the more people will have this opportunity.

lotsofpulp 8y ago

You would have to correct for older people aging out since they make up a greater portion of the population than before. https://www.census.gov/newsroom/blogs/random-samplings/2016/06/americas-age-profile-told-through-population-pyramids.html https://www.census.gov/newsroom/blogs/random-samplings/2016/... I would expect percentage of employed over age of 18 to be declining simply because the number of people retiring (or unable to work due to age) is greater than # of entering labor force.

moorhosj 8y ago
When you look at the numbers you will see that it isn't so simple and other factors clearly come into play (social security disability is likely one factor). For example, Georgia is the second youngest state with only 9.6% of the population over 65 years-old, but they have a below average laborforce participation rate of 62.8% [1]. Pennsylvania, with 15.6% of the population over 65 is the second oldest, but has a 62.9% participation rate. Iowa is the 4th oldest state and has the 6th highest participation rate (68.8). North Dakota is 5th oldest and 3rd highest rate (69.3%). South Dakota is 8th oldest and 7th in LFPR (68.7%). [1] https://www.bls.gov/web/laus/ststdsadata.txt https://www.bls.gov/web/laus/ststdsadata.txt [2] https://www.prb.org/whichusstatesaretheoldest/ https://www.prb.org/whichusstatesaretheoldest/

RPLong 8y ago

> If the labor market is so robust why aren't people joining the workforce? Because they don't need to work. They're not applying for unemployment and they're not taking jobs. So, logically, they're using their time on non-work-related activity. They're having fun, or otherwise doing stuff that they would rather do than work. The media has this terrible tendency to promote work as the primary marker of life success, which is a valid opinion, for sure, but it's not a universal one. Some people step out of the workforce because they can, and good for them. I expect the wealthier our society becomes, the more people will have this opportunity.