RECENTLY WAS READING AN ANALYSIS OF WHAT IS TRANSPIRING IN THE LABOR FORCE ON ONE OF THE GREAT TENANTS THE REASON THE NUMBER OF “NOT IN THE LABOR FORCE IS GROWING IS BABY BOOMERS ARE RETIRING AND LEAVING THE WORK FORCE NOT THAT PEOPLE ARE GIVING UP LOOKING FOR WORK. IF PEOPLE WERE GIVING UP LOOKING FOR WORK THAT WOULD MEAN THE UNEMPLOYMENT RATE IS MUCH HIGHER . Not that I am doubting Thomas, yet I wanted to look the information up myself to make sure that i was not passing along :”bad “ information .
so lets look from 2002 to 2012 to see how it looks
not in labor force 2002 72,279,000 vs. 2012 89,455,000 an increase of 16 million
employed 55 years or older 2002 19,980,000 vs. 2012 29,474,000 an increase of 10 million
population 55 years or older 2002 59,422,000 vs. 2012 81,326,000 an increase of 21 million
employed 30 to 54 years 2002 82,787,000 vs. 2012 78,588,000 a decrease of 4 million
total unemployed 2002 8,182,000 vs. 2012 12,206,000 an increase of 4 million
the increase in unemployment looks like it matches the decrease in th employment in the 35 to 54 age group and the number of 55 plus employment has increased by 10 million and if you take the rest of the increase in THAT age BRACKET and make them not in the work force, that still leaves approximately 5 million people that left THE work force UNEXPLAINED by the baby boomers. adD THOSE 5 MILLION to the unemployed and then the UNEMPLOYED moves to about 17 plus million. theN THE MATH EXPLAINING WEAKNESS in housing and household formation makes a lot SENSE
thoughts to ponder
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