8:35 AM, Sep 26, 2014 • By DANIEL HALPER
A new chart from the minority side of the Senate Budget Committee shows a startling fact: Almost 1 in 4 Americans between the ages of 25-54 (or prime working years) are not working.
Here's a chart showing those in that age group currently employed (95.6 million) and those who aren't (28.9 million):
"There are 124.5 million Americans in their prime working years (ages 25–54). Nearly one-quarter of this group—28.9 million people, or 23.2 percent of the total—is not currently employed. They either became so discouraged that they left the labor force entirely, or they are in the labor force but unemployed. This group of non-employed individuals is more than 3.5 million larger than before the recession began in 2007," writes the Republican side of the Senate Budget Committee.
"Those attempting to minimize the startling figures about America’s vanishing workforce—workplace participation overall is near a four-decade low—will say an aging population is to blame. But in fact, while the workforce overall has shrunk nearly 10 million since 2009, the cohort of workers in the labor force ages 55 to 64 has actually increased over that same period, with many delaying retirement due to poor economic conditions.
"In fact, over two-thirds of all labor force dropouts since that time have been under the age of 55. These statistics illustrate that the problems in the American economy are deep, profound, and pervasive, afflicting the sector of the labor force that should be among the most productive."
9:42 AM, Aug 21, 2014 • By GEOFFREY NORMAN
First time claims were expected to be come in at 303,000. The actual number was 298,000. As Shobhana Chandra of Bloomberg reports:
8:32 AM, May 2, 2014 • By DANIEL HALPER
The latest jobs numbers from the Bureau of Labor Statistics:
Total nonfarm payroll employment rose by 288,000, and the unemployment rate fell by 0.4 percentage point to 6.3 percent in April, the U.S. Bureau of Labor Statistics reported today. Employment gains were widespread, led by job growth in professional and business services, retail trade, food services and drinking places, and construction.
Household Survey Data
12:17 PM, Mar 4, 2014 • By JERYL BIER
Here's a rather harsh assessment of the last four years under the Obama administration's economic policies:
The corrupting effects of Obamacare.Feb 24, 2014, Vol. 19, No. 23 • By JAY COST
On February 4 the Congressional Budget Office dropped a bombshell. Analysts there found that Obamacare’s structure will create an enormous implicit tax on work, such that people on the lower end of the economic scale will have an incentive to quit their jobs or scale back to part time to maximize their premium subsidies. In an earlier study, CBO had estimated that this disincentive to work would destroy the equivalent of less than a million full-time jobs. Now, it projects that an equivalent of more than 2 million jobs will be lost as people voluntarily leave the workforce.
10:26 AM, Sep 2, 2013 • By GEOFFREY NORMAN
The celebration of work and the working man and woman feels a little forced this year. Union have, as Kevin Bogardus of The Hill reports:
'More people retiring early, going on disability, turning to welfare, and giving up looking for work altogether.'9:01 AM, Sep 2, 2013 • By DANIEL HALPER
Alabama senator Jeff Sessions, a Republican, is marking Labor Day with a statement lamenting the decline in America’s workforce and the strident push toward passing an immigration bill.
8:31 AM, Jul 5, 2013 • By DANIEL HALPER
The latest jobs numbers from the the U.S. Bureau of Labor Statistics:
THE EMPLOYMENT SITUATION -- JUNE 2013
Total nonfarm payroll employment increased by 195,000 in June, and the unemployment rate was unchanged at 7.6 percent, the U.S. Bureau of Labor Statistics reported today. Employment rose in leisure and hospitality, professional and business services, retail trade, health care, and financial activities.
Household Survey Data
8:31 AM, Jun 7, 2013 • By DANIEL HALPER
The unemployment rate ticked up, according to new numbers from the Bureau of Labor Statistics:
Total nonfarm payroll employment increased by 175,000 in May, and the unemployment rate was essentially unchanged at 7.6 percent, the U.S. Bureau of Labor Statistics reported today. Employment rose in professional and business services, food services and drinking places, and retail trade.
Household Survey Data
Both the number of unemployed persons, at 11.8 million, and the unemployment rate, at 7.6 percent, were essentially unchanged in May. (See table A-1.)
8:45 AM, May 3, 2013 • By GEOFFREY NORMAN
Today's big number is non-farm payrolls. And, thus, the unemployment rate for the previous month. The economists surveyed by Reuters called for 145,000 jobs and an unemployment rate at 7.6 percent.
The numbers came in at 165,000 new jobs and an unemployment rate of 7.5 percent. Pretty close.
12:15 PM, Nov 2, 2012 • By JEFFREY H. ANDERSON
The newly released October jobs numbers reveal that, since President Obama signed Obamacare into law in March 2010, we have now gone 31 consecutive months in which fewer than 59 percent of Americans have been employed.
9:39 AM, Nov 2, 2012 • By DANIEL HALPER
With the latest jobs report, it is now the case that "Under Obama, Food Stamp Growth [Is] 75 Times Greater Than Job Creation," according to statistics compiled by the Republican side of the Senate Budget Committee. "For Every Person Added to Jobs Rolls Since January 2009, 75 People Added To Food Stamp Rolls."
9:02 AM, Nov 2, 2012 • By DANIEL HALPER
According to the Bureau of Labor Statistics, the biggest change in employment over the last month affected black workers. In September, the unemployment rate for blacks was 13.4 percent. In October, that number jumped to 14.3 percent, an almost a full percentage point change, according to the Bureau of Labor Statistics.
Unemployment for whites remained steady at 7 percent.
Likewise, the unemployment rate remain unchanged for teenagers (23.7 percent) and adult men (7.3 percent).