US unemployed have quit looking for jobs at a 'frightening' level: Survey

While everyone busy arguing who the next gridlocked, lying and corrupt president is going to be the Obama administration continues to produce false numbers. Not only did we have a net loss in jobs last month by over 100,000 jobs and the labor force participation rate drop again...

US unemployed have quit looking for jobs at a 'frightening' level: Survey

The results come just a few days after a government report showed that the unemployment rate fell to 4.7 percent in May, but the drop came primarily because of a sharp decline in the labor force participation rate. The number of people of all ages whom the government considers "not in the labor force" swelled by 664,000 to a record 94.7 million Americans, according to Labor Department data.

664,000 that's it?

I would have thought it was in the million but, the labor force participation rate was only 66.4 before the crash in 2007.

BLS

Over the 1950–98 period, most of the increase in the Nation’s labor force participation rate occurred between 1970 and 1990. (See table 1.) During this 20-year period, the participation rate (the proportion of the civilian noninstitutional population 16 years of age and older either at work or actively seeking work) jumped from 60.4 percent to 66.4 percent. This increase coincided with the entry of the babyboom generation into the labor force, and, most notably, a 14.2-percentage point increase in the aggregate labor force participation rate for women.

Apparently the boom in participation came from the entry of the Boomer generation into the marketplace as well as women. At the time the Boomers were the biggest generation ever until..

Millennials overtake Baby Boomers as America’s largest generation

Millennials have surpassed Baby Boomers as the nation’s largest living generation, according to population estimates released this month by the U.S. Census Bureau. Millennials, whom we define as those ages 18-34 in 2015, now number 75.4 million, surpassing the 74.9 million Baby Boomers (ages 51-69). And Generation X (ages 35-50 in 2015) is projected to pass the Boomers in population by 2028.

Although Millenialls outnumber boomers we did not see a correlating increase in labor force participation similar to the increase in labor force when Boomers entered the marketplace as well as women.

Not only did we not see a correlating increase in participation we saw a decrease by %2. With the crash in 2007 and the many Boomers losing their retirements, 401k's, equity in their homes and their pensions going belly up Boomers are not able to retire as soon as they thought. However many Boomers are still retiring you would think that with the added financial pressure on them keeping them in the market and adding the Millennial generation to the market we would have seen a robust increase in labor force participation.

You don't have to look far to understand why Bernie, Trump and the Libertarian party are becoming so popular and why the political environment is so hot this election cycle.

OMG.


There are TONS of jobs out there.

If you have the ability to quit looking for a job then you have the ability to go to a community college and learn a trade skill. Often these classes are very affordable, and the pay is a livable wage.

But trades are loser jobs according to the media.

a reply to: projectvxn

There's a lot of jobs out there if your in CNC that's for sure, come to find out.

a reply to: onequestion I'm sure there's a correlation somewhere between idiotic art and gender studies degrees, the idiotic insurance premiums for job makers that make it improbable to hire felons causing them to find no work, the flood of illegal immigrants taking every labor job there is leaving those with little to no skills job less. the mishandling of the gulf oil spill leading to a massive job loss in the gulf states (where I was a victim of being laid off) and dozens of other reasons for the unemployment numbers.

a reply to: AVtech34

Oh trust me I know i was a felon for the last seven years and had it expunged 2 months ago. My life has already dramatically changed for the better its unbelievable.

originally posted by: onequestion
There's a lot of jobs out there if your in CNC that's for sure, come to find out.

You and I have discussed this over the past year or so many times and this is what I have been telling people. There are well paying jobs out there if you are willing to retrain yourself.

originally posted by: onequestion
a reply to: projectvxn

There's a lot of jobs out there if your in CNC that's for sure, come to find out.

Exactly. People think the only way to get ahead is to go get a degree. I wonder how much of this unemployment is being driven by useless degrees? In some cases people are getting degrees for jobs that just don't exist.

According to several sources the top three most outsourced jobs are in the tech field. Whereas you can't outsource skilled trades.

Today people are ashamed of the idea of being a plumber or a welder or a machinist. But the skilled trades produces more small, independently owned businesses than pretty my much any degree offered.

Most skilled trades START at 45-50k a year. You can spend 200 bucks and go take a welding course, or an HVAC course, or even just a mechanical maintenance course and leave the place with a job.

But these days people act like they're too good for it.

a reply to: AugustusMasonicus

It's hard to figure out where and how to look for many people. Had I had not come across this information here I would have never known.

a reply to: onequestion

Well, we may not see eye to eye on everything but I am glad my saying it may have helped you.

a reply to: AugustusMasonicus

After after reading about it I had to search to get anywhere, the local Careerlink office couldn't even point me in the right direction I started just calling shops and getting in front of people.

HHUUGGEEE demand for Cnc operators apparently. The shops can't fill orders and if you buy your own equipment there is massive opportunity to sub contract out work for over 60 an hour.

Yeah thanks. Disagreeing is good for learning.

There's also plenty of work in aviation too. A slightly higher level of education is required for the better jobs but easily one of the highest paying of the trade type jobs. I've been an avionics tech for 15 years and routinely make 75K+ a year.

a reply to: AVtech34

Were you in avi in the military?

a reply to: onequestion Yeah, navy EA-6B Prowlers. VAQ-128 and 129 1999-2006

a reply to: AVtech34

I mistakenly chose AZ when I joined god I was so pissed when I got into the fleet.

I wanted to be in special programs and crushed the PRT but wasn't prepared for the water side of things to say the least.

Self-Employment and the rise of Self Made Small Businesses is on the rise.

I know of several folks who have dropped out of the traditional Labor market and gone into crafting or building their own enterprises on their own merits.

Only a fool in this day and age would not harness technology and self-reliance to tend to their income requirements.

Writers, craftsmen and women, seamstresses, crafters, artistically minded individuals and independent tradesmen and women....all are flourishing with the rise in technology enabling folks to work from home or within their respective communities.

In this day and age, anyone with a head on their shoulders and an iota of common sense can find a way to keep busy and pull in income.

As far as traditional Corporate Work....I agree it's difficult to find employment. There's not much out there and you have to be willing to multi-task for minimum wage for the most part. I've been trying to find a part-time position for years, but nothing I can work with has been available. C'est la vie, so it goes.

What then?

RESOURCEFULNESS.
SELF-STARTING.
INNOVATION.

The basic fundamental ideology that made this Nation possible in the first place.
N'est ce pas?

originally posted by: onequestion
a reply to: projectvxn

There's a lot of jobs out there if your in CNC that's for sure, come to find out.

yes there are.

I am a senior manager at a manufacturing plant. Tons of CNC equipment.

I worked in CNC for 3 years, setting up mills and lathes. It was fun, and I had a good time doing it. G-Code is fairly simply to learn, and the main thing is being very conscientious with your tools and materials.

a reply to: onequestion Even that is transferable to the civilian aviation world with considerable pay, probably more if you become a planner or scheduler. I work on Tinker AFB and there are a crap load of admin type jobs available.

I am a machinist by trade. I learned in high school and at a two year college for tool and die. It is a profession I can take anywhere. I am also a draftsperson and a tool designer.

I make a good living. I enjoy my job.

Someone above said it right.

In our last hiring round, I saw a ton of resumes with a criminology major from college. CSI was big on tv at the time. I guess folks didn't realize that that isn't a market just waiting for people to fill jobs and it's not the glamour it is on TV.

Lots of people trying to get in on the ground level too that had marketing and business degrees. They start on our shop floor running CNC equipment then when jobs open up in those departments (sales, marketing, engineering, finance) our company hires from within first. People spend a couple of years getting training in how to operate this equipment and then move on up to where they really want to be. However, graduates now, want to start at the top or not at all.

a reply to: wdkirk

I'm taking a paycut myself.