Labor-Participation Rate Mired at 36-Year Low. Worst since Jimmy Carter in 1978

It's Bush's fault.

But we have millions waiting to take those pesky jobs Americans don't want if only they were citizens

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Interesting that you would bring this up on the day that the announcement came out that total employment had finally exceeded pre-recession levels.

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You can make you own judgment as to which number is most relevant. I find it interesting the Administration would try to hide its economic failure behind a very misleading stat. I find it disgusting the MSM would not call them on it.




But your post does bring to mind the Parsai quote:
“According to the latest statistics there are five million people in our country who are not working. And there are even more if you count those with jobs.”

But, but..... there are more jobs than ever!! This can't be true.

If you believe that this has to be the "new Normal" you shouldn't have drank all the kook aid. This guy named Obama and his admin. Is destroying middle class jobs. But I'm sure you will keep on preaching just what your told to.

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kook aid

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Nice!!

Was that intentional or just a typo that worked out well?

Bush's fault?

Part of it is no doubt.

No, it's not. Anyone who believes that spent time in the class intended for Forrest Gump.

The thing that should scare anyone who needs a job is the participation rate of those in the 24-55 range.

It will be much worse shortly in Seattle.

I think you sorta hit on something, but not necessarily about the topic here. Anyway, two things...

One, I do not think labor participation is really gonna change much and had little to do with government. I think times have changed, a lot of unskilled jobs aren't coming back due to automation, obsolescence, and some being shipped offshore to low wage environments due to globalization and technology making it possible. When I was at PwC about 5 years ago, they were making a huge push during the recession to ship tax preparation of simple stuff to India. My group was mostly unaffected because we were international and didn't do much simple stuff but we had to justify why India couldn't do it.

Second, you hit on wage stagnation. Corps are seeing record profits and ceo's record pay because they don't have to pass it on to employees. They have been able to keep employees wages stagnant and they, like yourself, will keep doing so until bidding for talent happens again at mid levels. Not sure what the catalyst for that will be.

Personally, my old company gave me about a 5%,raise each of the last two years because that was the norm in the broader market for my position. They even backed it up by showing me the work from the firm they had to do the industry research and the average raise was 4%.

They knew I was worth more, but thought they could just give me a bit more than the norm. I interviewed a month later with another firm for a 30% raise which I got the next day. Bidding wars for talented people is the only thing that will change stagnant wages.