RT @JimPethokoukis: 11.2 %: What the unemployment rate would be
if labor force participation was the same as when the recession started Oct 23, 2013
The availability of qualified workers will undoubtedly moderate actual job growth, even
if the labor force participation rate picks up again.
Not exact matches
If growing unemployment was not enough, a decline in
labor market
participation was also on the rise, the ILO said, a warning borne out by the latest U.S. jobs data from December which showed that the
labor force participation rate tumbled to 62.8 percent, its worst level since January 1978.
If the 2006 study continues to be correct, the
labor force participation will continue to drop, taking the unemployment rate, which hit 6.7 % in December, down with it.
They broke the adult US population up into 13 different age groups, and then projected what the overall
labor force participation rate would have been
if each of those age groups had the same
participation rates that they did in December 2007, right before the start of the recession.
The conventional wisdom in the economics community is that the
labor force participation rate would have continued to decline even
if the great recession never occurred, because as the nation ages the share of retired workers would grow.
Then... this is the best part... he made it clear that a 6.5 percent unemployment rate would not necessarily be the threshold for raising rates, then went on a long discussion of the conditions under which he would NOT raise rates, including
if the unemployment rate dropped mostly due to cyclical declines in the
labor force participation rate rather than gains in unemployment, as well as persistently low inflation.
That will partly cover the 2 % drop in prime age
labor force participation fall, (2.5 million
if you look at narrow 25 to 54 year old range), and 1.5 % extra underemployed (of 150 million workforce, that's 2.25).
If enacted, JCT estimates that Camp's discussion draft would increase
labor force participation by an average of between 0.3 and 1.5 percent each year this decade, and increase private sector employment by between 0.4 and 1.5 percent.
If our elites were experiencing 6 - percent unemployment and only 45.3 - percent
labor force participation, it would be a national crisis.
Given global competition in the
labor markets,
if our wages on the low end don't reduce, isn't that a significant reason why our
labor force participation rate so low?