TLDR: They're students, retired boomers, or sick middle agers.
This comment is overly reductionist -- 'disabled' is a code word for long-term un-employable. Just eyball the proportion of working adults in the 50 to 60 year range. It is only ~5x the number of disabled. In other words, that is a huge %--maybe 20%--of potential workers in that age bracket. Any employment process that disables 20% of its workforce would be normally considered a problem. But instead we call the un-em…
What We Know About the 92M Americans Who Aren’t in the Labor Force
21–30 of 72 posts
Re: What We Know About the 92M Americans Who Aren’t in the Labor Force
#22If you look at the SSDI stats: https://www.ssa.gov/oact/STATS/dibStat.html it is interesting to see that when the Financial Crisis happened, the number of applicants jumped drastically; a 34% increase from 2007 to 2009. And as the economy has picked up recently, the number of applications has gone down; a 15% drop from 2010 to 2014.
While I do support the idea of a "safety net", I don't like the idea of people dipping into SSDI when they don't feel like working (or can't get work).
Added later: (1330PST): A lot of people are saying that he could just be having a good day or two. Maybe; but he has enough good days (when I see him), there's no reason that he would not work on his "good days". Secondly: my last conversation with him (3-4 weeks ago) was about how he could go about getting a cash-only gig, and he wanted my opinion (me being a tech guy). I recommended Postmates/TaskRabbit, but he shied away from those, opting for cash gigs from Craigslist. Maybe the 1099 would have ratted him out? I dunno.
Re: What We Know About the 92M Americans Who Aren’t in the Labor Force
#23TLDR: They're students, retired boomers, or sick middle agers.
That includes "taking care of elderly" as well as "taking care of kids". Especially the "taking care of elderly" is putting a very large drain on resources that is simply going to get worse and worse as the boomers age.
Re: What We Know About the 92M Americans Who Aren’t in the Labor Force
#24TLDR: They're students, retired boomers, or sick middle agers.
This comment is overly reductionist -- 'disabled' is a code word for long-term un-employable. Just eyball the proportion of working adults in the 50 to 60 year range. It is only ~5x the number of disabled. In other words, that is a huge %--maybe 20%--of potential workers in that age bracket. Any employment process that disables 20% of its workforce would be normally considered a problem. But instead we call the un-em…
Re: What We Know About the 92M Americans Who Aren’t in the Labor Force
#25"...while the elderly workers in the US have risen by a whopping 7.4 million since the start of the Depression in December 2007, workers aged 25-54 are down 4 million!"
As shown in this chart:
http://www.zerohedge.com/sites/default/files/images/user5/im...
If there's a person here with a good handle on how the WSJ article and the noted Zero Hedge article relate to one another, I'd be very interested in your perspective.
[1] Article source, August 2015. http://www.zerohedge.com/news/2015-08-07/prime-aged-workers-...
Re: What We Know About the 92M Americans Who Aren’t in the Labor Force
#26I have a neighbor who used to work as a landscaper. The money was decent (in SF); his specialty was masonry. Then a couple of years ago, he decided to drop out. Claimed he had MS and started getting SSDI checks of about $2K/month (I think). After he dropped out, I've seen him lift 100lb stones; frequently, he'll drive down to Arizona for fishing trips with buddies; and recently, he drove cross-country to Georgia for…
My mother is 58. Her lower spinal column was collapsed, and she's had it reconstructed using titanium plates and screws during a 6 hour surgery. She has been denied for disability by the Social Security Administration twice, and currently has to wait ~500 days for her next appeal (https://www.ssa.gov/appeals/DataSets/01_NetStat_Report.html) in front of an panel of judges (this backlog is caused by Congress providing insufficient funding to process said backlog).
How the hell are people who don't need disability getting approved, and the people who don't need it are stuck in purgatory?
Re: What We Know About the 92M Americans Who Aren’t in the Labor Force
#27Part of this is an intentional misrepresentation of the employment numbers. In order to be counted as "unemployed" you must first have had stable "employment". Thus, people just out of high school or college that are unable to find their first job (which is often extremely hard to come by) are not counted as unemployed, despite being so. The other problem is that after unemployment benefits expire, people aren't counted as unemployed anymore, so the unemployment stat goes down, but the percentage not in the labor force goes up.
Employment indicators U3/U6 are remarkably poor for depicting gainful employment in the wake of economic depressions; they're meant to measure unemployment that is expected to be transient. Super long-term unemployment, difficulty finding a first job, and underemployment are not adequately measured, though the part-time employment stat is somewhat taken into account.
Re: What We Know About the 92M Americans Who Aren’t in the Labor Force
#28I am however trying to create my own future as an entrepreneur and build my own company. This effort being bootstrapped, on my own dime, using funds that should have been reserved for retirement. There is a lot of solid engineering talent and experience that is laying dormant - I am trying to counter that by building my own asset/company.
Re: What We Know About the 92M Americans Who Aren’t in the Labor Force
#29The graph should be split:
- Has a reliable full time job with benefits
- Has a minimum wage job, or is a part time employee/contractor making less than $20-30k a year.
Re: What We Know About the 92M Americans Who Aren’t in the Labor Force
#30There is a portion of the spectrum that seems like it is in the "wants a job, but is not looking" category that is not properly represented. I am in sub-category of "wants a gainful future (after being laid off - essentially forced into early retirement - from a long aerospace career) but is not looking for a job (either in the sector I left, or in the service sector). Aerospace is notorious for ageism, and I have no…