"Jobless Recovery"

[RunInRed 16,438]

With today's jobs report, payrolls have passed the pre-recession peak ... or to put it another way, we've now gained back all of the jobs we've lost since the great recession.

U.S. Employment at All Time High

Employers added 217,000 jobs in May to push U.S. payrolls past their pre-recession peak and the jobless rate held at an almost six-year low as the economy gained traction.

The advance was broad-based and followed a 282,000 gain in April, figures from the Labor Department showed today in Washington. The median forecast in a Bloomberg survey of economists called for a 215,000 increase. Unemployment in May was unchanged at 6.3 percent.

...

May marked the fourth straight month payrolls have increased at least 200,000, the first time that’s happened since September 1999 to January 2000.

...

The increase in payrolls put total employment beyond its peak of 138.4 million reached in January 2008, one month after the start of the deepest recession since World War II. The number of employees on payrolls stood at almost 138.5 million last month, Labor Department data show.

http://www.bloomberg...te-at-6-3-.html

Jobs have grown to a total that is 97,000 above the pre-recession peak and an all time high

[AUUSN 823]

This is great news for the family of four who had a sign "Help Us" on their beat down SUV yesterday which I gave $20 to help them get a hotel room for the night. /sarc

Stats are a funny business...

[icanthearyou 4,463]

This is great news for the family of four who had a sign "Help Us" on their beat down SUV yesterday which I gave $20 to help them get a hotel room for the night. /sarc

Stats are a funny business...

Disturbing trend that began in 1999. Interesting that the participation rate was not higher in the post WWII era? Anyone know why? Women in the workforce?

[RunInRed 16,438]

The participation rate is largely a macro calculation that has more to do with the baby-boomer generation retiring than anything ... the trend will continue, even as the economy continues to add jobs.

[AUUSN 823]

Possibly, but I think it's a matter of people giving up and staying on public assistance since in many cases pay more than the part-time employment saturating the market.

"Before December, the last time the labor force participation rate sunk as low as 62.8 percent was February 1978, when it was also 62.8 percent. At that time, Jimmy Carter was president.

In April, the number of those not in the labor force hit a record high of 92,018,000. In May, that number declined by 9,000 to 92,009,000. Yet, the participation rate remained the same from April to May at 62.8 percent.

The labor force, according to BLS, is that part of the civilian noninstitutional population that either has a job or has actively sought one in the last four weeks. The civilian noninstitutional population consists of people 16 or older, who are not on active duty in the military or in an institution such as a prison, nursing home, or mental hospital.

In May, according to BLS, the nation’s civilian noninstitutional population, consisting of all people 16 or older who were not in the military or an institution, hit 247,622,000. Of those, 155,613,000 participated in the labor force by either holding a job or actively seeking one.

The 155,613,000 who participated in the labor force equaled only 62.8 percent of the 247,622,000 civilian noninstitutional population, matching (along with the 62.8 percent rate in May) the lowest labor force participation rate in 36 years.

At no time during the presidencies of Ronald Reagan, George H.W. Bush, Bill Clinton or George W. Bush, did such a small percentage of the civilian non-institutional population either hold a job or at least actively seek one."

http://www.cnsnews.com/news/article/ali-meyer/372-percentage-not-labor-force-remains-36-year-high

[Tigermike 3,040]

"May - The unemployment rate remained at 6.3%, with 9.8 million Americans still looking for work. Of those, 3.4 million have been looking for more than 6 months. An additional 7.3 million are working part-time, but would prefer a full-time job. There's another 2.1 million people who are jobless, but haven't looked for work in the past month."

[icanthearyou 4,463]

Those 65 and above are not included, correct?

[Tigermike 3,040]

Here's the link. http://useconomy.about.com/od/economicindicators/a/unemploy-curren.htm

[AUUSN 823]

Those 65 and above are not included, correct?

I think they are counted as long as they don't fall into the "institutional" group as explained above.

[RunInRed 16,438]

Well, the bottom line is the US has the most employed of all time ... right now ... let that sink in.

[Tigermike 3,040]

True RR but there's more to the story. Here's an informative read on that. http://www.zerohedge.com/news/2014-03-26/look-who-has-highest-labor-force-participation-rate-eh

[autigeremt 6,652]

Well, the bottom line is the US has the most employed of all time ... right now ... let that sink in.

Awesome! I'll have to see it with my own eyes before I believe it. Right now the real world indication is that employment is better but nowhere near where it should be and our national debt continues to climb. I'm glad you have a small piece of "happy" to share for us considering the undeniable.

[icanthearyou 4,463]

Those 65 and above are not included, correct?

I think they are counted as long as they don't fall into the "institutional" group as explained above.

I guess that goes a long way towards explaining the downward trend.

[RunInRed 16,438]

I'm not necessarily happy beyond I like to see the US economy improve ... I'm more just stating the facts. Politics aside.

[alexava 6,973]

I know Toyota can't make enough vehicles right now. We expect this for at least another 12 months.

[RunInRed 16,438]

I know Toyota can't make enough vehicles right now. We expect this for at least another 12 months.

Hearing stories like this all the time ... good news.

[autigeremt 6,652]

I thought it was a global economy?

[TheBlueVue 177]

Well, the bottom line is the US has the most employed of all time ... right now ... let that sink in.

it isn't that remarkable actually since the US has added 100 million to its population just since the 1970s. It stands to reason there SHOULD be more people employed then ever before. There population is the most its ever been.

http://www.multpl.co...opulation/table

[AUloggerhead 2,241]

Sen Sessions says 7.2M have left the workforce since 2009:

http://www.weeklystandard.com/blogs/sessions-7-million-have-left-workforce-obama-took-office_794443.html

When you include that number, the unemployment rate is over 12%.

[RunInRed 16,438]

Sen Sessions says 7.2M have left the workforce since 2009:

http://www.weeklysta...ice_794443.html

When you include that number, the unemployment rate is over 12%.

How many of that number are due to retirees?

[AUFAN78 3,911]

With today's jobs report, payrolls have passed the pre-recession peak ... or to put it another way, we've now gained back all of the jobs we've lost since the great recession.

U.S. Employment at All Time High

Employers added 217,000 jobs in May to push U.S. payrolls past their pre-recession peak and the jobless rate held at an almost six-year low as the economy gained traction.

The advance was broad-based and followed a 282,000 gain in April, figures from the Labor Department showed today in Washington. The median forecast in a Bloomberg survey of economists called for a 215,000 increase. Unemployment in May was unchanged at 6.3 percent.

...

May marked the fourth straight month payrolls have increased at least 200,000, the first time that’s happened since September 1999 to January 2000.

...

The increase in payrolls put total employment beyond its peak of 138.4 million reached in January 2008, one month after the start of the deepest recession since World War II. The number of employees on payrolls stood at almost 138.5 million last month, Labor Department data show.

http://www.bloomberg...te-at-6-3-.html

Jobs have grown to a total that is 97,000 above the pre-recession peak and an all time high

Obvious good news. There was one unfortunate stat, more than 50% of these jobs were low income opportunities. In other words, McDonald's, Jacks, Dairy Cream, etc.

[icanthearyou 4,463]

With today's jobs report, payrolls have passed the pre-recession peak ... or to put it another way, we've now gained back all of the jobs we've lost since the great recession.

U.S. Employment at All Time High

Employers added 217,000 jobs in May to push U.S. payrolls past their pre-recession peak and the jobless rate held at an almost six-year low as the economy gained traction.

The advance was broad-based and followed a 282,000 gain in April, figures from the Labor Department showed today in Washington. The median forecast in a Bloomberg survey of economists called for a 215,000 increase. Unemployment in May was unchanged at 6.3 percent.

...

May marked the fourth straight month payrolls have increased at least 200,000, the first time that’s happened since September 1999 to January 2000.

...

The increase in payrolls put total employment beyond its peak of 138.4 million reached in January 2008, one month after the start of the deepest recession since World War II. The number of employees on payrolls stood at almost 138.5 million last month, Labor Department data show.

http://www.bloomberg...te-at-6-3-.html

Jobs have grown to a total that is 97,000 above the pre-recession peak and an all time high

Obvious good news. There was one unfortunate stat, more than 50% of these jobs were low income opportunities. In other words, McDonald's, Jacks, Dairy Cream, etc.

True. But, if we raise the minimum wage so that those jobs pay $50,000.00/year, the economy will be incredibly robust. See, if you'd just be opened minded and ,work with me a little, I've got all the answers to the country's economic problems. So what if a Happy Meal costs $19.95. Are you really going to tell the kids NO?

[AUFAN78 3,911]

With today's jobs report, payrolls have passed the pre-recession peak ... or to put it another way, we've now gained back all of the jobs we've lost since the great recession.

U.S. Employment at All Time High

Employers added 217,000 jobs in May to push U.S. payrolls past their pre-recession peak and the jobless rate held at an almost six-year low as the economy gained traction.

The advance was broad-based and followed a 282,000 gain in April, figures from the Labor Department showed today in Washington. The median forecast in a Bloomberg survey of economists called for a 215,000 increase. Unemployment in May was unchanged at 6.3 percent.

...

May marked the fourth straight month payrolls have increased at least 200,000, the first time that’s happened since September 1999 to January 2000.

...

The increase in payrolls put total employment beyond its peak of 138.4 million reached in January 2008, one month after the start of the deepest recession since World War II. The number of employees on payrolls stood at almost 138.5 million last month, Labor Department data show.

http://www.bloomberg...te-at-6-3-.html

Jobs have grown to a total that is 97,000 above the pre-recession peak and an all time high

Obvious good news. There was one unfortunate stat, more than 50% of these jobs were low income opportunities. In other words, McDonald's, Jacks, Dairy Cream, etc.

True. But, if we raise the minimum wage so that those jobs pay $50,000.00/year, the economy will be incredibly robust. See, if you'd just be opened minded and ,work with me a little, I've got all the answers to the country's economic problems. So what if a Happy Meal costs $19.95. Are you really going to tell the kids NO?

Heck no. I'd say give me 4!

[RunInRed 16,438]

One other interesting stat ... remember Obamacare, the "job killer" ...

Since the Affordable Care Act was signed into law in March 2010, the health care industry has gained nearly 1 million jobs—982,300, to be more precise—according to Bureau of Labor Statistics estimates released on Friday.

http://www.forbes.com/sites/dandiamond/2014/06/06/since-obamacare-passed-50-months-ago-healthcare-has-gained-almost-1-million-jobs/

[AUloggerhead 2,241]

Sen Sessions says 7.2M have left the workforce since 2009:

http://www.weeklysta...ice_794443.html

When you include that number, the unemployment rate is over 12%.

How many of that number are due to retirees?

Don't know. Did you read the article? It talked of the demographic age group of 25 - 54. I'm thinking there aren't too many retirees in that demographic.