89,300,000 not in the labor force

[green73]

http://i.imgur.com/4LdG9GM.png


(CNSNews.com) - The number of Americans not in the labor force increased by 296,000 in February, according to the Bureau of Labor Statistics’ latest jobs report.

According to the report, there were a total of 89.3 million people not in the labor force, up from 89 million in January.

BLS labels people who are unemployed and no longer looking for work as “not in the labor force,” including people who have retired on schedule, taken early retirement, or simply given up looking for work.

The increase marks the second month in a row, after rising in January from 88.8 million in December. Those not in the labor force had declined in December from 88.9 million in November.

The nation's unemployment rate decreased to 7.7 percent in February, down from 7.9 percent in January. Overall unemployment “has shown little movement, on net, since September 2012,” the Labor Department said.

Total nonfarm payroll employment increased by 236,000 in February, according to the report.

http://cnsnews.com/news/article/296000-americans-drop-out-labor-force-february

[Zippyjuan]

"Not in the Labor Force" also includes students and retired people and disabled.

As a percent of the population it is not significantly different from the historic average. It has been as high as 68% and is down to around 64%.
http://en.wikipedia.org/wiki/File:US_Labor_Participation_Rate_1948-2011_by_gender.svg
http://upload.wikimedia.org/wikipedia/commons/thumb/a/a2/US_Labor_Participation_Rate_1948-2011_by_gender.svg/720px-US_Labor_Participation_Rate_1948-2011_by_gender.svg.png

[DamianTV]

"Not in the Labor Force" also includes students and retired people and disabled.

As a percent of the population it is not significantly different from the historic average. It has been as high as 68% and is down to around 64%

...

So 100% - 64% = 36% Unemployment? That I'd believe. (link) (http://www.humanevents.com/2012/02/20/the-true-unemployment-rate-36/)

Of that 36% that are not working, subtract the reported unemployment rate of 11% means that 25% of the people that dont have work do not want to work?

Why? One of two things has to be true:
A: They actually do not want to work (I.E. retirees, students, rich)
B: They are not being counted in the Official Unemployment Statistics.

I find that A is as difficut to swallow as the Blue Pill...

[Zippyjuan]

Why? One of two things has to be true:
A: They actually do not want to work (I.E. retirees, students, rich)
B: They are not being counted in the Official Unemployment Statistics.

If they are not actively seeking a job and don't currently have one, it is assumed they don't want one. They consider people ages 18- 64.

http://www.bls.gov/cps/lfcharacteristics.htm#nlf

Not in the labor force

Persons who are neither employed nor unemployed are not in the labor force. This category includes retired persons, students, those taking care of children or other family members, and others who are neither working nor seeking work. Information is collected on their desire for and availability for work, job search activity in the prior year and reasons for not currently searching.



Unemployment

Persons are classified as unemployed if they do not have a job, have actively looked for work in the prior 4 weeks, and are currently available for work . Persons who were not working and were waiting to be recalled to a job from which they had been temporarily laid off are also included as unemployed. Receiving benefits from the Unemployment Insurance (UI) program has no bearing on whether a person is classified as unemployed.

So if you haven't filled out a job application or tried to contact potential employers in the last month you are not consdered part of the labor force.

[DamianTV]

Riiiight. Just keep on pushing that the real unemployment rate is at 8%. Oh hell, why dont we just flat out pretend that its 0% while we're at it.

[KrokHead]

89,304,000 people watching Maury and calling "1-800-Victim-2"!!!

[Zippyjuan]

Riiiight. Just keep on pushing that the real unemployment rate is at 8%. Oh hell, why dont we just flat out pretend that its 0% while we're at it.

Do you feel that people who are not looking for a job should be counted as unemployed?

[Zippyjuan]

Riiiight. Just keep on pushing that the real unemployment rate is at 8%. Oh hell, why dont we just flat out pretend that its 0% while we're at it.

Do you feel that people who are not looking for a job should be counted as unemployed?