Only 63% of American adults are in labor force

[applegrove]

Only 63% of American adults are in labor force

by Annalyn Kurtz at CNN Money

http://money.cnn.com/2014/07/17/news/economy/white-house-labor-force-participation/index.html?iid=SF_E_Lead

"SNIP........................


As of June, only 63% of Americans over age 16 participate in the labor force, meaning they either have a job or are actively looking for one. That number is around its weakest level since the early 1980s.

Unless there's a major change in policy, the White House expects the labor force participation rate will flat-line and then continuing falling, even as the economy returns to full strength.

....

The U.S. population is aging: The finding isn't surprising. Independent economists generally agree that the labor force participation rate will continue falling in the future as the U.S. population ages. As baby boomers retire and live longer than prior generations, it's only natural that a greater portion of the U.S. population won't be active in the job market.

....

CEA economists note that they believe immigration reform is the single most powerful policy that could counteract a declining labor force.




..........................SNIP"

[Erich Bloodaxe BSN]

1. I'd like to see some stats as to what percentages

of those out of the labor force are actually of retirement age.

Just saying 'the population is aging' is kind of weak tea, unless you can also show that that actually IS why so few are in the labor force.

[applegrove]

2. Here is some is some info on that. But the big boomers retirements are starting

right now. Not in 2007.

"The CEA economists have their own estimates. The labor force participation rate declined from around 66% at the end of 2007, to 63% in mid 2014. They calculate that half of that decline is due to the aging population".

http://money.cnn.com/2014/07/17/news/economy/white-house-labor-force-participation/index.html?iid=SF_E_Lead

[enlightenment]

5. Sounds like they

would like to bring in more cheap immigrant labor for all those low-wage jobs that are driving the "strengthening" economy.

And here is the answer to your question:

http://www.bls.gov/cps/cpsaat35.htm

75% of those counted as not in the labor force but to want a job are under the age of 54.

[KamaAina]

3. Tons of people with disabilities are not

many fear that getting even a low-paying part-time job would jeopardize their benefits, especially Medicaid.

[Hekate]

4. Retirees, high schoolers, college students, moms with young kids. Their point is?

It's not all oldsters who are out of the work force.

[kiva]

6. Or maybe

"As baby boomers retire and live longer than prior generations, it's only natural that a greater portion of the U.S. population won't be active in the job market." translates to "Baby boomers will continue to work longer to help recover retirement funds lost in the crash, to help support their children and grandchildren who are under- and unemployed."

We need more jobs that pay a living wage, not more workers.

[MannyGoldstein]

7. It will not get appreciably better until Hoovernomics ends

We need to move from Hoover Economics to FDR Economics.