http://www.zerohedge.com/news/2015-...ot-labor-force-soar-579000-record-946-million "While the September jobs number was an absolute disaster, here is the real punchline: in September, the people not in the labor force soared by a whopping 579,000 to a record 94.6 million, up from the previous record 94.0, even as number of people employed - according to the household survey used to calculate the "5.1%" unemployment rate - tumbled by 236,000 to 148.8 million." The graphs in this piece are quite striking. The anemic jobs data certainly puts a spike in the Fed's thinking about an October rate hike, and I think December prospects for a hike are remote. The sour soup mix of the global economy difficulties, anemic job data, stagnant wages, and presidential campaigns makes for interesting pundits' predictions in 2016. If the predictions were thrown darts, I wouldn't expect very many to hit even the edge of the target hanging on the bar wall.
The labor participation rate is a better indicator of the overall job market than the unemployment rate. The latter considers people who are no longer on unemployment insurance as employed which, in the Obama economy, is a very bad assumption indeed. The "recovery" hasn't just been anemic, it has been pathetic. But there are plenty of folks who want four more years of these policies ...
And the lame street media fails to recognize the importance of and report on the labor participation rate.
It amazes me that almost half the population doesn't work. I wonder how many people get paid under the table and I'd also like to know how these people continue to live without an income.
As we continue to move more and more towards a socialist/communist model, this will only get worse. And many who have re-entered the workforce in the last 6 years are underemployed. More people are working part time, making less, and having to work more than one job. "Full time" now means 30 hours. Net household income is down ~ $5k, and for the first time in history more businesses are folding than starting up - excessive regulations will do that. And some in govt on the left actually think that the "compliance" jobs added due to the increasing regulatory environment is as good or better than real jobs added due to real private sector growth.
