Leaving it at the Labor force participation rate doesn’t tell the whole story. The reason why the Bureau of labor statistics puts out multiple numbers is because no one number tells the entire story. The unemployment rate takes multiple factors and tells a more complete story because it accounts for age and other demographic trends. The labor force participation rate does not tell the whole story and just because The Silent Majority correctly stated the number doesn’t mean they are not using it to hide the whole truth.
Anti-Myth Machine The Labor Force Participation rate is calculated by taking everyone who has a job and dividing it by the total population. You are correct in stating the drop was a little bit during President Bush’s term and then dropped significantly under President Obama (REF 1). Generally speaking, the number has not risen over time.
The implication here is that many have dropped out of the workforce, which is true according to the Congressional Budget Office (REG 2). Where did all those people go? Are they wallowing in poverty or living off food stamps? Many are retiring voluntarily, but many others are retiring because they can’t find work. The bureau of labor statistics is expecting a retirement boom (REF 3), and the baby boom isn’t an exclusive American problem either Canada has had the same issue (REF 4, 5). The aging of the workforce accounts for 2/3 of the loss in the workforce (REF 6, 7, 8)
That doesn’t account of everybody so what about all those discourage workers we’ve been hearing so much about? The BLS likes to call this “labor underutilization” and the crash of ’08 caused a peak of 1.2 million discouraged workers in 2010. However, that number is making a recovery. (REF 9)
Bottom line: You can argue that the economy is recovering in spite of the president, but doesn’t it make you feel great about America that not even President Obama can stop our country’s prosperity?
The Silent Majority (response) Anti TRUTH Machine…well…you are right about ONE thing…American is a great country…and will survive in spite of LIBERALS…not just Obama…BUT all LIBERALS…lol! Now while liberal like you attempt to down play the labor participation rate…we will clearly show that it isn’t all about retiring baby boomers…much of it is…BUT MUCH of it is simply those who have given up looking for work…AND they still are not looking! YOU obviously are use to speaking to uneducated liberals….for we are not in need of an education on the labor participation rate…we are well versed on this topic…so you can save your simplistic liberal rattling for your low information followers who are impressed by it…lol! NOW…who are those out of the labor participation force…let’s take a look…shall we?
The Silent Majority (response) From the attached: On Friday, the U.S. Labor Department said the country’s jobless rate dropped from 5.8 percent in November to 5.6 percent last month, the lowest rate since June 2008. The report showed 2014 to be the best year for job growth since 1999, but as the top-line numbers improve, deep problems persist in the U.S. job market. Businesses are creating jobs, but many of them are part-time or temporary positions. At the same time, the number of people who are able to work but have dropped out of the workforce remains at a historically high level. And the portion of Americans considered to be “long-term unemployed” remains unusually high…..http://www.ibtimes.com/despite-falling-us-unemployment…
Anti-Myth Machine You are mentioning what is called “labor underutilization” and yes, under President Obama this has not fully recovered. In layman’s terms this is called “discouraged workers” and this peaked at 1.2 million, this number is in recovery, even if you argue President Obama is slowing it down sue to his policies. The part time to full time ratio is also another measurement and you are correct in saying it’s been bad ever since the recession began. The reason the labor participation rate is “glossed over” by what you think of as liberal media is because it doesn’t tell the whole story.