Total nonfarm payroll employment increased by 213,000 in June, and the unemployment rate rose to 4.0 percent, the U.S. Bureau of Labor Statistics reported today. Job growth occurred in professional and business services, manufacturing, and health care, while retail trade lost jobs.
This is the 93rd consecutive month in which the US economy has added jobs. This streak in unprecedented. We are closing in on 8 full years without a single down month.
(I hope this isn’t a duplicate thread. I searched and didn’t find a thread on today’s jobs numbers.)
The increase in the unemployment rate came due to a rise in the labor force participation rate, which increased 0.2 percentage points to 62.9 percent as 601,000 people came off the sidelines and re-entered the labor force.
Half a million people + have decided they want to start working again.
Is a participation rate of 62.9% a good thing now?
It seems like not so long ago that 62.9% was pathetic. Our host cited 63% participation rate as proof that the BLS numbers are a hoax.
On a related note: In 2016 Trump and our host complained that there were 93 million Americans out of the labor force. That number is now 95,502,000.
The Democrats are going to try and take as much credit for anything positive that Trump does, that the American people greatly pay attention to. It doesn’t matter if it is on day one of his Presidency, or his last day in office. lol.
Go into the wayback machine and if you were to do an average over the last 70 years or so what would that average look like?
Should more be in the workforce? Yes. Are there some that shouldn’t yes. Examples. Guy I know who owned a repair shop. He sold it for a pretty penny and retired. He doesn’t work, doesn’t want to work stays at home and goofs off a lot. Lives off the interest of the money and his wife has a job with good insurance bennefits. He’s not counted in the workforce and shouldn’t be.
example 2. My daughter who has a privately funded full ride scholarship to a university. She doesn’t work, doesn’t want to work. Her husband has already graduated and has a very well paying job. She’s not counted in the workforce and shouldn’t be.
I’ve said this during Obama administration, I say it now. Are there some that SHOULD come back into the work force - yes. Are there some that if their significant others get good paying jobs leave the workforce - yes.
So as I said in my post a half million + starting to look for a job is a good thing.
Why do you want more people working? That means more american households leaving kids home alone, more people working past retirement, fewer people getting education.
I want more single income homes in america. I want fewer people working, and still families living good lives.
During Obama’s 8 years in office there were 9 times when the labor force grew by over 400,000. In seven of those months the participation rate was at today’s rate or HIGHER. In one of those months the labor force grew by 762,000 and in another the labor force grew by 608,000.
We don’t have access to the old forum, but I can say with a high degree of certainty that in none of those months did you–or any other conservative on this forum–praise the participation rate as a good thing or point out that the increase in the labor force was good news.
Which is my point.
62.9% participation rate and half a million added to the labor force in a single month under Trump=“a good thing” according to conservatives.
The exact same stats, 62.9% participation rate and half a million added to the labor force in a single month under Obama=“the worst participation rate since 1978!!” “pathetic” “BLS unemployment rate is a hoax” “93 million NOT IN THE LABOR FORCE!!”
It doesn’t necessarlily mean more kids home alone, more people working past retirement, and fewer people getting an educations.
I’ve stated there are people who don’t necessarily belong in the workforce. We have many two income families in the country becuase they “have to keep up with the jones’”. You know every family member with the latest 1,000 buck phone that comes out every year, have to have a car for every family member who can drive, big screen tv in multiple rooms, have the latest and greatest toys (boats, atv’s, campers).
If more people were like me – drive a car that’s 10 years old, motorcycle that’s 10 years old, atv that’s 20 years old, bought a camp trailer that’s 15 years old – all with no payments. My cell phone is an “older” phone (bought new, but it’s 3 or 4 generations behind) that was under 100 dollars. people wouldn’t need to have two income families.
You were on the old forum. Did you ever see me ONCE saying anything other than I’ve said in this thread. You know, that participation rates have been MUCH lower in the past. And that there are legitimate reason why some are not counted in the workforce?
Didn’t say all family should be single income. Gave an example of a family that has luxuries they could do without. I know someone like that. Both Hubby and Wife work (both make more than me). Both drive brand new vehicles. Both get the latest phone every year. Take 2 or 3 vacations every year. Have all the latest little gadgets and such. Listened to Wifey fret one day about how they were going to pay an unexpected bill of $1,000. All I could do was shake my head and keep my mouth shut.
right - those types of families are the minority of dual income homes. And since they are both working, they are already propping up the participation rate.
What started this discussion was, why do you want a higher labor participation rate? Why do you want more americans to be working?
Get them off welfare. Have them fell better about themselves. Get them out of their homes doing something. Have them participating more in the economy.
Ones that are legitimatly not in the workforce . . . I’m not concerned about. Ones that have kind of dropped off the radar that could and should be working are the one’s that I want to see be able to get jobs.
That chart someone posted above - that shows labor participation of around 55% in the 50’s…why don’t we aim for that - less participation - wages such that one working parent can sustain a household. People retiring early enough to enjoy life.
