RSS

Real Work Force – 05/31/15

12 Jun

Graph - General - Decreasing - 01

The FedGov released its unemployment propaganda for May 2015 showing a slight uptick in the unemployment rate from 5.4% to 5.5% with 280,000  jobs created.

At Forbes, a cautiously optimistic tone:

Currently 8.7 million Americans are unemployed. At issue for months, however, has been the large percentage of people who are working part-time not by choice but because they had no better option. The U-6 rate, which measures under-employment, came in at 10.8% in May unchanged from a month earlier but down from 12.1% a year earlier. “These are elevated numbers compared to what a normal labor market looks like but they are declining rapidly.” says Robin Anderson, senior economist Principal Global Investors

FedGov calculations still don’t really show the true picture of employment in America.  They don’t answer this question:

Ignoring all demographics, who is in the wagon versus who is pulling the wagon?

How many people are working as a percent of all the people in the United States?  Here’s the trend…

.

RWF - 20150531 - Real Work Force - 01

.

After a dismal 2014, the rate is struggling to rise back to the levels of 2013.  There was little change in the labor force number this month, so while 280,000 jobs is a good headline, only 289,000 net jobs have been added since the beginning of the year.

At the end of Clinton’s administration, over 50% of the population in America were in the labor force!  That number stayed mostly the same and then increased through through the early parts of 2007.  That percentage has decreased since the beginning of 2007 and is now down by fully 2%.  You’re welcome to comment below as to what happened in early 2007 to turn the trend around.

In today’s numbers, that’s a reduction of almost 6,000,000 jobs.

Below is the percentage of change from month-to-month

.

RWF - 20150531 - Real Work Force (Percent Change) - 01

.

Labor Force Data from bls.gov:

.

RWF - 20150531 - Labor Force - 01

.

Population Estimate from census.gov

.

RWF - 20150531 - Population Estimate - 01

.

Things won’t get better in this country until millions more people are pulling the wagon!

Advertisements
 
Leave a comment

Posted by on June 12, 2015 in Economy, Unemployment

 

Tags: , , ,

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s

 
%d bloggers like this: