AND WAGES OF MOST WORKERS NOT KEEPING PACE WITH INFLATION …
|| By FITSNEWS || The number of working age Americans not participating in the labor force soared by 261,000 in August – pushing the total number of unemployed, out-of-the-workforce citizens to a record 94 million.
You read that right: Ninety-four million working age Americans are not in the U.S. labor force – keeping the nation’s labor participation rate stuck at a four-decade low of 62.6 percent.
Over the last year alone, the number of working age Americans not participating in the labor pool has soared by 1.8 million. Since the beginning of the “Great Recession” in December 2007, the number has climbed by 14.9 million.
And again, this is assuming you trust the official monthly data (.pdf here) provided by the U.S. Bureau of Labor Statistics (BLS).
Because you’d be forgiven if you didn’t …
Anyway, courtesy of our friends at Zero Hedge, here’s what that looks like in chart form …
(Click to enlarge)
Yeah … yikes.
The “good” news? Stagnant incomes showed some rare upward motion, with average hourly wages climbing by 0.3 percent from last month. But before we start popping champagne corks, are wages really going up?
No. At least not for the vast majority of American workers.
“There are two vastly different pictures emerging when looking at the two key segment of the US labor force: the supervisors, managers and other workers in position of power, and everyone else,” Zero Hedge noted.
So how are the “haves” (a.k.a. the supervisors, managers, etc.) doing?
Pretty good, actually …
(Click to enlarge)
One problem though …
These workers – responsible for the August uptick in wage growth – represent only 17.5 percent of our nation’s shrinking workforce.
The other 82.5 percent? They’re not doing so well …
(Click to enlarge)
For those of you keeping score at home, they’re not even keeping up with inflation.
We hate to rain on the “rainbows and unicorns” (a.k.a. “everything is awesome“) parade, but it’s important to keep these numbers in mind when you read the mainstream media’s take on things …
Ah, the false narrative of labor participation again. OK folks. Let’s review. Take a year we all agree was rockin’ – say 1998. Bill Clinton was in the White House, Newt Gingrich was Speak of the House. The economy was expanding nicely. Labor participation was 67%. That means, if you walked into a room of 100 people, 33 were not engaged in the labor force. Today, if you walk into that same room, 37 aren’t in the labor force. Of those 4 people, how many are a) early retirees under 65 (good on ya’ mate), b) Mom’s who no longer have to work but can stay home, c) younger people between 18 and 23 who are in college and not working, d) disabled Vets. And another reminder, that participation rate, was even lower in 1958, during the great Ike expansion. So…….. labor participation rate means jack shit.
Oh.33% of the country doesn’t need to work? Thanks Rocky.Add the 70% of the illegals on government assistance and you can understand why this country is sinking fast!
You tell’em Sandi Nutjob, all those damn lazy ass retirees and stay at home moms need to get to work !!
Those bastards. Mooching off their husband’s salaries. While we’re on salaries – so the information seems to suggest, if you get a good education and go to college, you’re wages are going up. If you’re low-skilled with just a high school diploma, not so much. Mind blowing – ain’t it – highly skilled workers do well, low skilled workers don’t do as well. Here’s an idea, skill up dumbass.
And the low skilled illegal imigrants are putting a drag on wages.
And the high skilled HB-1s can take Jobs from our citizens and depress wages.
I know HB-1 holders, and they’re making from $80K to $105K. That’s holding down wages? Or are they just better educated. You know, teaching yourself SQL but never graduating from college doesn’t get you the top job. Just ask Walker – he’s fallin’ in the polls while Trump has an MBA from Wharton.
If you’re goal in life is to compete for jobs picking lettuce and strawberries – I guess that’s an issue. What’s really sad, whitey unskilled labor complaining now, that do nothing to upskill. Wait until their inbred kids are the ones picking lettuce, and Jose and Maria’s kids are enjoying air-conditioned offices as IT employees or doctors. Man, I can’t wait for the day some dumb un-educated white kid complains because he has to work mowing Jorge’s lawn.
33% of the folks in the age group 16 to 65. Yup!!!! Let’s see, if we all agree 1998 was a great year – the change in participation between then and now 6%. And if we take the difference between 2007 (a year you consider awesome) and now – 4%. So……. guess labor participation rate down between 1997 to 2007 – that was cool beans. But now it’s not. You’re such a joke in this argument.
Yeah, thanks for making the assumption early retirees are retired by choice, who weren’t forced out of a job due to mergers and/or companies moving to Mexico or China, ; Moms who no longer have to work and can stay home- you are doing the Democrat talking points…who the heck are they in this economy after husbands are laid off, 401k $$ shrinking and college costs rising, along with insurances??, 18-23 who are students not working- they need to be working to pay college expenses and a big chunk of them are no longer college bound; disabled vets- while too numerous for my liking, they are de minimus in the overall economy.
What about all those out of work folks that decided to claim a disability but could be working part or full-time? I’ve met my share of them!
I have friends who’se wives are staying home with the kids because they don’t have to work. Of course, they’re highly educated types with great jobs. There are tons of kids 18-23 going to school and not working. Many of them borrower the annual limit so they can avoid having to put in 20-hours a week to work, and focus on their studies. I know some early retirees who lost their corporate Momma-money jobs, usually to mergers, non to jobs that moved overseas. You’re statement “a big chunk of them are no longer college bound” is laughable since the statistics show there are nearly 3 million more college students today than in 2007. From National Center for Education Statistics “In fall 2015, some 20.2 million students are expected to attend American colleges and universities, constituting an increase of about 4.9 million since fall 2000” So no assumptions here, because you know, making assumptions makes an ass out of you and me.
In fairness, this number was based, in part, off of the 12 million different names GT’s unemployed ass posts under. It’s actually much lower when you factor him out.
The actual number of officially unemployed Americans in January was a
little under 9 million — just one-tenth of the figure Cruz cited as
Cruz said that “92 million Americans aren’t working.” Once you strip out
senior citizens and school-age Americans, the number is less than half
that. The statement contains some element of truth but ignores critical
facts that would give a different impression, so we rate it Mostly
Planned Parenthood: The Hidden Harvest
TONIGHT @ 10 on Fox News
A simple thank you is sufficient.
There is only one guy who needs to be unemployed starting yesterday
I’m dropping truth bombs
Yes – Fits – Even Though SC’s unemployment went down last month and Nikki Haley is strutting around like a peacock – SC actually lost total number of jobs.
So now you’re blaming Haley instead of W. You Dumbasses will believe anything the DNC feeds your stupid ass, won’t you?
By the Bye…How’s the Hillary Campaign going???…Hahahahaha…
Can’t blame past Republicans!
Can’t blame current Republicans!
Can’t blame future Republicans!
Give us your 100% loyalty or else!
The Republican Shill has spoken!
Trump’s’ a Republican, Biden’s getting in, brady innocent, Tebow proves himself, Gamecocks win, Hillary’s tanking, Liberals jailing a Christian, Cops shot sown in the streets, Haley is new media darling….
And now FITSNews has to be reminded that Obama has been lying to all of the Democrat worshipers for almost 7 years…
What an ass-kickin’ you’ve taken this week. And it’s just going to get worse.
Sucks to be you….Dumbass. (:
But on the bright side, the people who hang on every word, are too fucking stupid to know the difference.
Hey I didn’t see – how did Tebow do? Are his throwing mechanics improved?
The Buzzman • an hour ago
Wait. I thought all the homely women were supposed to be Democrats. Haw!
That rhetoric runs afoul of reality pretty easily, in this case. The usual suspects not calling her a pig, a heifer, etc.?
You are arguing with idiots…this is the latest ‘state of the Boz’s delusional rant’ on the Kim Davis thread.Somebody tell Boz Ms.Davis is a DEMOCRAT!
Why are you supporting Brady? He’s not a Christian man. He is a deadbeat to his son.
To those of you who voted for the weakling OBAMA ?
Do you dare (after 7 years of brontosaurus shit) to apologize for
• OBAMA care foul up
• Hillary Clinton as Secretary of State only to be followed by john lurch Kerry
• Biden and his frequent bone head moves
• cash for clunkers
• email servers that are not secure
• giving Iran nuclear weapons capability and releasing billions of dollars back to them
• letting Isis run loose in the middle east
• the total abandonment of Israel an ally
Do you demo tards really WANNA try to compare the OBAMA travesties to Bush
What the flock is the matter with people!??!
You’ve no clue libtards
Just let the adults run things
And do not paint me as a Trump apologist
That guys a train wreck waiting to happen
I need common sense to reappear
92,000,000 Americans don’t need some fouled up super secretive ttp. Trade agreement that no one knows what is in it.
The only one of the 92,000,000 who needs to be fired.
Bobby, chill out. Unemployment is down to 5.1%, and apparently, the economy is growing, and if you really want a job, you can find one. There are 5 million unfilled jobs in this country. Which would probably take the participation rate down to 62%, but apparently, people don’t apply. So I guess we can just say to those not participating – “get a job.”
Comments like these are exactly why I voted for him. Keep it up! I love it!
Take a look at the graphs for union membership and representaton numbers. The declining trends for union membership match the above graph showing the declining wage changes for Production and Non-Supervisory Employees
Anti union parties have realized exactly what they set out to achieve: few higher paying employees. And with lower wages come high public assistance enrollment and a higher burden on taxpayers who pay for these programs.
94 million Americans? Mostly false.
Right wingers have a real problem with facts. They don’t like facts and they don’t trust facts. Because facts are biased against Republicans. So they make up their own facts.
So, even though the update at the bottom of your link to the highly biased politico states: “The statistic, they said, came from the Bureau of Labor Statistics — Table A-1, for the total civilian, non-institutionalized population not in labor force, seasonally adjusted, for January 2015. The total for that month was 92.5 million.”
And even though no one is arguing that labor force participation is the lowest it has been since the malaise of the mid-70s, and even though politifart, according to their own calculations which you would rather trust that the federal government’s Bureau of Labor Statistics, still comes up with 57.5 million Americans out of the workforce,it is “mostly false”? It is MOSTLY true! And apparently you think this is a good thing, to have low labor force participation, because…Obama.
Do you realize how self-deluded you sound? Why do you cheer when you are told that wages have not kept pace with inflation, and those at the very top of the pile, the 1% are richer than ever, banks have posted bigger profits than ever? Wealth disparity is greater than ever? Which side are you on? You have taken on the argument of your mythical image of Republicans, as they appear to you in your warped world view. A republican that says to hell with people out of work, good thing that the rich are rich and getting richer, who cares if earnings for everyone else is down, home ownership is down, food stamps are at their highest levels ever—this is what you are saying. If a republican president presided over this mess, you would love love love that 92 million figure, and would be clinging to it. Maybe the Bureau of Labor Statistics is doing it wrong—please go to D.C. and let them know the error of their calculations. They are only the agency of the federal government tasked with keeping track of these numbers, not an arm of the RNC.