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Job seekers giving up: Labor force participation falls to lowest in 50 years

cnbc.com

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Re: Job seekers giving up: Labor force participation falls to lowest in 50 years

#41

Post by jjk166 »

gruez wrote: post #22
arealaccount wrote: post #5

Earlier quoted context omitted.

> However, in June the biggest plunge came from what is defined as “prime age” workers, or those between the ages of 25 and 54. That rate fell 0.6 percentage point to 83.3%, its lowest since December 2023. It's great how two sources can tell a completely different story about the same numbers.

>>its lowest since December 2023. That should already make you skeptical, and after looking at the chart, I'm more on side "all is fine" than the doom narrative the article is pushing.

In other news, June worst full month since May.

Re: Job seekers giving up: Labor force participation falls to lowest in 50 years

#42

Post by gruez »

javascriptfan69 wrote: post #34
gruez wrote: post #28

Earlier quoted context omitted.

And yet, the amount of redistribution that's happening has never been higher, far exceeding the era of "94% tax rate on the rich", never mind that nobody actually paid that rate because the tax code was full of exemptions at the time. https://www.economist.com/content-assets/images/20260221_IRC... https://www.economist.com/content-assets/images/20260221_IRC...

Those graphs are about income, not wealth.

So was "the same way Roosevelt did, 94% tax rate on the rich"

Re: Job seekers giving up: Labor force participation falls to lowest in 50 years

#43

Post by Mountain_Skies »

josefritzishere wrote: post #11

The current regime's policies are causing an economic recession.

The current regime and the previous regime both reported extremely low unemployment outside of the pandemic but don't let your partisan bigotry get in the way of facts. You are the reason why the uniparty is able to do this, as you will always be willingly blind to it as long as it has the right color coating on it. You are personally at fault.

Re: Job seekers giving up: Labor force participation falls to lowest in 50 years

#44

Post by cute_boi »

cyberax wrote: post #29
gruez wrote: post #23

Earlier quoted context omitted.

>ensuring that the money went out willy-nilly and that $700+ billion in "loans" were turned into a straight up gift from the taxpayers. Wasn't that widely understood during the pandemic? All the coverage I've seen mentioned that the loans for forgivable if certain criteria were met, and nobody was like "yeah it's fine because it's a loan!".

The problem is that these loans went to _businesses_, not workers. There was an orgy of corruption, with newly formed LLCs claiming to have dozens of workers. And then these loans were just forgiven. And since they went to businesses, Republicans are completely silent about that. See: https://en.wikipedia.org/wiki/Paycheck_Protection_Program

I don't know why they keep voting republicans, they haven't done anything to benefit Americans.

Re: Job seekers giving up: Labor force participation falls to lowest in 50 years

#45

Post by stanleykm »

mc32 wrote: post #17
woah wrote: post #10

Earlier quoted context omitted.

Man rebels against capitalist system by living off of proceeds of ownership shares of capitalist system

Well, things don’t just appear from thin air. Someone has to work. Foraging isn’t much of an option in non tropical regions.

ok but systems that are more favorable to workers are possible

Re: Job seekers giving up: Labor force participation falls to lowest in 50 years

#46

Post by Loughla »

an0malous wrote: post #7

The money printing during COVID screwed everything up. Most of the capital was directly given to banks and businesses, fraudulently in many cases and unnecessarily in most, and everything pooled up into real estate and stocks so anyone who had already owned a large proportion of those became absurdly wealthy in the span of a couple years and everyone else effectively lost 20-30% of their income through inflation. The…

Google Disaster Capitalism.

What we've done to other countries has finally turned inwards. It was just a matter of time.

Re: Job seekers giving up: Labor force participation falls to lowest in 50 years

#47

Post by Loughla »

Mountain_Skies wrote: post #43
josefritzishere wrote: post #11

The current regime's policies are causing an economic recession.

The current regime and the previous regime both reported extremely low unemployment outside of the pandemic but don't let your partisan bigotry get in the way of facts. You are the reason why the uniparty is able to do this, as you will always be willingly blind to it as long as it has the right color coating on it. You are personally at fault.

I mean, the current party in power is making out in the open moves to profit directly from tanking the federal government. What's the centrist view in this one? A little robber baroning as a treat?

Re: Job seekers giving up: Labor force participation falls to lowest in 50 years

#48

Post by lifestyleguru »

crossbody wrote: post #4

Sounds more like people retire somewhat early - for 25-54yo labor force participation near all time high: https://fred.stlouisfed.org/series/LNS11300060 And here is one for 55+yo: https://fred.stlouisfed.org/series/LNS11324230 All is fine

I think you are grossly overestimating the number of people >55 years old who free willingly retire early because of having enough new worth. Already millenials' CVs are written off in recruitment pipelines.

Re: Job seekers giving up: Labor force participation falls to lowest in 50 years

#49

Post by cyberax »

Mountain_Skies wrote: post #39
cyberax wrote: post #29

Earlier quoted context omitted.

The problem is that these loans went to _businesses_, not workers. There was an orgy of corruption, with newly formed LLCs claiming to have dozens of workers. And then these loans were just forgiven. And since they went to businesses, Republicans are completely silent about that. See: https://en.wikipedia.org/wiki/Paycheck_Protection_Program

Your partisan obsessed brain is why the political class gets away with this.

Sorry, but "both sides" went out of the window in 2024.

There are _some_ decent Democrats in the Congress. There are also plenty of bad ones. There are NO decent Republicans in the Congress. And yes, reality appears to be partisan.

To the topic in question, PPP was not really a big deal. The real culprit is this: https://fred.stlouisfed.org/series/CP - the corporate profits literally DOUBLED since 2020 because of earlier Trump's tax cuts.

Re: Job seekers giving up: Labor force participation falls to lowest in 50 years

#50

Post by theodric »

woah wrote: post #10
theodric wrote: post #3

And I'm not going back, either. Reckon I can slowly liquidate assets for as long as I have left to live. To hell with all this shit, my farm is enough.

Man rebels against capitalist system by living off of proceeds of ownership shares of capitalist system

If you can't beat 'em, join 'em.
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