91,541,000 AMERICANS NOT IN LABOR FORCE CLIMBS TO ANOTHER RECORD IN OCTOBER
Friday, November 8, 2013
The number of Americans who are 16 years or older and who have decided not to participate in the nation’s labor force has climbed to a record 91,541,000 in October, according to data released Friday by the Bureau of Labor Statistics. The BLS counts a person as participating in the labor force if they are 16 years or older and either have a job or have actively sought a job in the last four weeks. A person is not participating in the labor force if they are 16 or older and have not sought a job in the last four weeks.
‘Real’ Unemployment: 13.8%The “real” unemployment rate rose from 13.6% in September to 13.8% in October, according to figures released today by the Bureau of Labor Statistics (BLS). Though the national unemployment rate is 7.3%, the “real” unemployment rate is a broader measure of the number of people in the United States, 16 and older, currently looking for jobs. Known as the U-6 unemployment rate, this “real” unemployment figure, seasonally adjusted, includes the unemployed “plus all persons marginally attached to the labor force, plus total employed part time for economic reasons ….”
Yeah, the labor participation rate is at something like a 36 year low....So many have dropped out. Some would rather try and live off food stamps, disability and welfare...Peter Morici had a good article about this.
But my reason for coming in here...is to 'whine'...Oh, maybe not that, but are there others (and me) who feel that the Fed is now, "the economy"... Sometimes when people argue that the economy is doing better, etc., I just tell them "why not end all the Fed bond buying / MBS buying...and then we'll see what the real state of the economy is...and what real market rates should be?"...I'm so tired of CNBC with their 'touts'...and Cramer has gotten so 'old'...i.e. listening to him is a farce, imo...Just one more "rah rah" person....I feel like people don't know what's going on.
My biggest issue with the FED is that by providing all the protection via money supply increases over the last 5 years, the people in Washington have never had to MAKE TOUGH DECISIONS...THEY KICK THE CAN, DRAG THEIR FEET, ETC...and I don't think anything's been solved or accomplished. I'm an old man and would like to go back to the "real world", where the Fed is not the entity that papers over all our problems AND KEEPS THIS FAKE ECONOMY GOING....I'm just so tired of 'artificial'...but it seems like most people are quite ok with the way things are. This period in history seems so ALIEN to me. People will argue that the Fed is keeping us from another recession. Yeah, they are. But these types of actions cannot continue forever, so I'd rather HAVE A RECESSION, and clean out the malinvestment, pop some asset bubbles, get Washington to face up to the BIG PROBLEMS we face down the road on the $60-100 trillion in unfunded liabilities....and I'd really like the govt to 'get out of the way'...slim down....(god, I'm whining...I don't even like myself...I'm trying my best to ignore what I see on TV...I walk 7 miles a day now, just to 'get away' from all the fake stuff...)