Archive for the ‘Employment – Jobs’ Category

WSJ: “Rot in the job numbers” … yeah, but a week late.

March 17, 2014

This morning, the WSJ published an editorial titled “The Hidden Rot in the Jobs Numbers ” by Prof. Edward  Lazear, who was chairman of the president’s Council of Economic Advisers from 2006-09, is a professor at Stanford University’s Graduate School of Business and a fellow at the Hoover Institution.

Strong credentials, right?

The punch line: “Hours worked are declining, resulting in the equivalent of a net loss of 100,000 jobs since September.”

No kidding, Prof. Lazear?

Loyal HomaFiles readers are already aware of that … assuming that they read last Monday’s post: Smokin’: Employment growth exceeds expectations … oh, really?

Gotta crow a bit on this one … beat the WSJ by a week.

Here’s what we said last Monday:

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Smokin’: Employment growth exceeds expectations … oh, really?

The headlines are that 175,000 jobs were added in February.

Proof positive that the Obama economy is kicking in.

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Hate to rain on the parade, but ….

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Smokin’: Employment growth exceeds expectations … oh, really?

March 10, 2014

The headlines last Friday were that 175,000 jobs were added in February.

Proof positive that the Obama economy is kicking in.

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Hate to rain on the parade, but ….

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Nums: Are women still at a disadvantage in the workplace?

February 27, 2014

According to a  WSJ poll

“Women in large numbers believe they face more discrimination in the workplace than in other situations.”

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= = = = =
The “disadvantages” include lower pay than men …

(more…)

Salute: High praise for garbagemen … really!

February 20, 2014

Last week, Pelosi. et. al., were lauding how ObamaCare was “liberating millions of Americans from the burden of working at jobs they don’t like.”

Simple thesis: just hang on the couch and let taxpayers foot the bill for your food, phone and, now, health insurance.

Why work?

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Right when I  was about to get terminally discouraged, I decided to go fetch our mail … on one of those windy, below-zero days.

At the mailbox, my faith in the American spirit was refreshed.

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What happens when the minimum wage is raised?

February 19, 2014

President Obama is pushing to raise the minimum wage to $10.10 per hour.

Interesting play

$10.10 … not $10.

Why?

To make folks think that he thought about it … that $10.10 is some kind of magical optimum.

Putting that silliness aside, the rationale is well-intended: get low-earners closer to a “living wage”

The major argument against the move is econ 101 … and empirical evidence.

The below chart – from AEI’s Mark Perry –  cuts to the chase.

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The chart plots the level of the Federal minimum wage against the number of percentage points that the teenage unemployment rate is over the all-inclusive unemployment rate.

Implicitly, the analysis assumes that the bulk of minimum wage jobs go to teens … and, measuring the differential (instead of the gross rate) normalizes to the overall state of the economy.

The conclusion is stark: when you raise the minimum wage you lose jobs.

Period.

But, some folks argue that economic life is better for the minimum wagers who retain their jobs.

Not so fast …

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More re: Labor Force Participation Rates

January 17, 2014

Earlier this week, I posted a chart showing that the LFPR among Blacks (the Fed’s data series description)

My observation was:

Black’s LFPR increased by about 7 percentage points since the mid-1970s (earliest that the data is reported) to 2000 – when it peaked at about 66% …. the rate has dropped to just over 60% …. the declining trend has steepened.

A loyal reader suggested that I put those numbers in context … and linked me to a chart that displays all of the Fed’s demographic categories.

His observation: the recent trend has been fairly consistent across all racial categories,

  • Key: Hispanic = purple; White = green; Black = orange

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Note that in the late 1990s,  LFPR’s were roughly equal for all groups

Since then, Hispanics have run above average LFPRs …

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Nums: Labor Force Participation Rate hits 30 year low …

January 13, 2014

One of the big headlines last Friday was that the Labor Force Participation rate continued to fall December (which is why the unemployment rate ticked down despite paltry job growth).

More specifically, the LFPR is down more that 4 percentage points since the financial crisis hit.

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Let’s put the current LFPR is perspective: Now, about 62.5% of the able-bodied adult population either has a job or is actively looking for one.

Said differently, over 37% don’t have jobs and aren’t actively looking.

Let’s drill down to a couple of demographic groups ….

(more…)

Nums: Unemployment rate drops again … oh, really?

November 1, 2013

Feds say that “economy continues to recover … as indicated in the drop in the unemployment rate to 7.2%”.

Hmmm.

Great chart from Wall Street Daily:

 

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Conclusion: Apparent improvements in the unemployment rate continue to be mostly a reflection of a declining labor force participation rate … more and more folks dropping out of the labor force and staying home.

Frustrated by dim jobs’ prospects or satisfied with the government safety net programs .. or both?

Draw you own conclusion.

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Nums: The jobs report in 4 charts

October 25, 2013

The bruhaha re: the ObamaCare systems implosion overshadowed the belated September jobs report.

To get you up to date …

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Nonfarm employment increased by 148,000 in September … analysts were expecting 180,000 … which is about the average for the past 12 months.

 

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Source

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Importantly, jobs are being added disproportionately in services (think hotels & fast-food places) … not in manufacturing.

 

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Source

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And, there’s more to the story …

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Jobs: The story in 3 charts …

September 9, 2013

The Feds reported that the unemployment rate dropped to 7.3% … despite tepid job growth – fewer jobs added than expected, and those that were added were in retail & hospitality.

Most analysts quickly pointed out that the unemployment rate dropped because the number of people dropping out of the labor force was about twice the number of jobs added.

In technical jargon, the labor force participation rate dropped to a 35 year low.

 

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A complementary metric that combines the effect of the Unemployment Rate and the Labor Force Participation Rate is the Civilian Employment to Population Ratio – the percentage of the working age population that has a job.

That rate dropped about 4 percentage points during the recession … then has flatlined during the “recovery”.

That is, job growth has barely kept up with population growth.

 

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What about my favorite?  The downmixing to more part time positions?

 

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Nums: Before today’s employment report …

September 6, 2013

Here are some data points in advance of this morning’s BLS Employment Report.

Gallup’s daily tracking report indicated a surge in the unemployment rate … averaging 8.5% … getting as high as 8.8% during the month.

 

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Source: Gallup

More data …

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Nums: Gallup says unemployment surging …

August 22, 2013

You may remember that the BLS reported tha, for July,  the unemployment rate continued its decline … all the way down to 7.4%.

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Good news. right.

Not so fast …

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Jobs: More on the part-timer trend …

August 12, 2013

Couple of charts – and conflicting interpretations — caught my eye.

First, Wall Street Daily posted their version of an analysis revealing that over 3-in-4 jobs created in 2013 have been part-time jobs.

Their conclusion: “it’s the scariest chart ever”.

Maybe a bit of hyperbole, but certainly worth watching

 

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Here’s another take on the trend …

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Nums: Cutting to the chase on the jobs numbers …

August 5, 2013

We’ve been frequently posting about the way employment is “down-mixing” from full-time to part-time jobs.

I personally think that the mix change is one of the most important trends in the economy.

Finally, the trend has become so significant that even the mass media has started reporting on it..

Last Friday … the BLS headline was “Total nonfarm payroll employment increased by 162,000 in July, and the unemployment rate edged down to 7.4 percent.”

High fives, right?

Not so fast.

Yep, total private employment went up 114.186 million … an increase of 162,000 jobs  … that’s true.

 

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And, though the job growth was below expectations and below the number usually cited as being required to keep the unemployment rate constant … the increasingly flakey unemployment rate dropped to 7.4%

That’s good news, too … right?

Not so fast.

Here’s the HomaFiles Employment Index … the way to cut to the chase on the employment numbers …

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Not to worry about part-time jobs … say, what?

July 25, 2013

MarketWatch had a piece scolding folks who are saying that we’re becoming a part-time economy.

The essence of their argument:

1) Employment data is noisy and June was a blip

2) Since the bottom of the recession, FT jobs have been increasing fater than part-time jobs

 

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Hmmm.

Let’s dig a little deeper …

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Why the Fed’s QE isn’t booming the economy …

July 24, 2013

Two related articles caught my eye …

First, the Washington Post editorialized that:

The only part of the Obama economy that has flourished  is Wall Street.

Only the trickle-down from the wealthy financial players, who have thrived off the conveyor belt of money as it travels from Washington to Wall Street, has had much of a positive effect on the economy as a whole.

Let’s break down the economic fundamentals.

First, a chart showing the “conveyor belt of money” …

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Note that the M1 money supply increased from about $1..4 trillion in 2009 to today’s $2.6 trillion.

Shouldn’t a cool $1.2 trillion more in supply of money get the economy cranking into overdrive?

Here’s the rest of the story …

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Why are 74% of small businesses planning to cut hours and fire workers?

July 19, 2013

According to a survey by the U.S. Chamber of Commerce ,,,

The answer has little to do with the Fed’s threat to tighten monetary policy.

Though 77% continue to think the U.S. economy is on the wrong track, most small businesses are optimistic about their local economy and individual business.

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So, what’s up?

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Work: “And, give me some fries on the side …”

July 17, 2013

The Feds keep reporting steady job growth.

What gets obscured by the headline is that t there’s a fundamental shift happening in the workforce.

 

Source: ZeroHedge

Here’s what’s going on …

(more…)

Nums: The labor market in 3 charts …

July 8, 2013

There were high fives last Friday when the BLS reported a level unemployment rate and – based on the employer survey– 195,000 new jobs.

The numbers from the household survey were less rosy … a gain of 120k jobs.

Still, positive job growth.

Here’s the rub …

The new jobs (and more) were part-time jobs … up 360k on the population survey.

In fact, full-time jobs declined in June by 240k jobs.

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Let’s put those numbers in a historical context …

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Nums: How high is your state’s unemployment rate …

June 24, 2013

Interesting chart from Calculated Risk … plotting the unemployment rat – by state – from high to low.

Here’s the chart … below are some highlights.

 

 

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Highlights:

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Feds: “Hire ex-cons … we do” … say, what?

June 17, 2013

Let’s connect a couple of dots from recent articles that caught my eye…

The first is a NY Post exclusive that the “State Department has hired agents with criminal records”.

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Here are the details … and a couple of odd twists.

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Nums: Gallup says unemployment rate to go up …

June 7, 2013

The BLS numbers get reported at 8:30 this morning.

I always reference Gallup as an indicator.

For May, Gallup’s seasonally adjusted U.S. unemployment rate was 8.2%up .4% from 7.8% in April.

 

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My bet: weak jobs growth ( probably 125,000) … but BLS will find a way to keep the official unemployment rate constant at 7.5%

 

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Nums: The most worrisome employment number …

June 6, 2013

Interesting chart in today’s WSJ … I’ve added a few highlights.

Basic point raised in the article: The reported drop in the unemployment rate is masking a more fundamental weakness in the job market.

As we’ve harped before, the employment to population ratio is down about 5 pp from the pre-crisis long-term average … and despite a decline in the unemployment rate, the employment to population ratio has stayed flat over the past couple of years.

The culprits keeping the employment to population ratio low:

  • bona fide unemployment – too few jobs
  • demographics -old folks retiring
  • social programs – extended unemployment
  • faux disability enrollments

Our prior analyses allocate about 1/3 of the drop to demographics, about 1/2 to lack of jobs and the rest to social programs and disability bumps.

 

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Note from the employment to population chart …

1) The 20 year pre-crisis trend …. hovered around 63%.

2) The steady increase during the 1980’s … you know, the Reagan years … more growth, fewer handouts.

3) The similarity in the levels during the Carter and Obama years … coincidence?

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Nums: The impact of demographics on the LFPR …

June 6, 2013

Business Insider reports that …

Bank of America economist Michelle Mayer has put out a note on one of the more controversial subjects in economics these days: the Labor Force Participation Rate.

The Unemployment Rate has been grinding down, but everyone has noticed that Labor Force Participation has dropped as well, and it’s been argued that the exodus of people from the workforce (who no longer count as unemployed when they’re not working) undermine the idea of workforce improvement.

BI – repping for Team O — takes delight observing that: “Mayer’s note comes down firmly on the side of saying that the decline in Labor Force Participation is largely secular, and not primarily about the economic malaise.

 

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Hold your pants on, BI.

Here’s how & why Mayer’s analysis overstates the secular impact and understates the economic impact.

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Nums: More on the rise of part-time work …

May 10, 2013

Yesterday we posted “Connecting the dots: ObamaCare may be creating jobs!”

The punch line: many companies are reported to be down mixing their work forces by reducing full-timers to part-time status … and hiring additional part-timers to fill their needs.

Today, let’s look at some macro numbers.

Total employment dropped 8.2 million during the recession.

5.3 million of those 8.2 million jobs have been recovered … but total employment is still down 2.9 million from its pre-recession peak.

Note that total employment is up 1.4 million since President Obama’s Inauguration in January 2009.

Keep that number in mind … 1.4 million.

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Things get more interesting with a little drilling down …

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Nums: THE way to look at the employment numbers …

May 10, 2013

In a  couple of the past week’s posts we’ve been exploring the employment down mixing from full-time to part-time jobs.

I personally think that it is one of the most important – and least reported trends in the economy.

Flashback to last Friday … the BLS headline was that 165,000 jobs were added in April and the unemployment rate dropped to 7.5%

That news flash elicited giddy re-reporting … e.g. Business Insider’s “STOCKS GO WILD AFTER AWESOME JOBS REPORT” … “awesome” and all caps,

Yep, total employment went up 165,000 jobs … that’s true

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But, here’s the rest of the story …

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Jobs: A generation lost ?

May 9, 2013

Editorial in the WSJ today titled Meet Generation Jobbed

Punch line: With youth unemployment and underemployment at persistently high levels, “our kids are starting to look and sound like Europe’s smart kids—despondent and resigned.”

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Here are the facts underlying the conclusion …

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Part-timing it: Retailers adding employees … and cutting hours.

May 8, 2013

According to IBD

Retailers – prepping for the ObamaCare mandates — are cutting workers’ hours and reclassifying them as part-timers.

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Here’s the data

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Connecting the dots: ObamaCare may be creating jobs!

May 6, 2013

You read that right.

The obvious has become evident to me …

The BLS reported that employment rose by 165,000 in April, and the unemployment rate was little changed at 7.5 percent,

Hmmm.

Memory jogged back to last week’s post re: the increasing number of part-timers:

Obvious question: how many of the 165,000 were part-timers?

According to the Fed’s data base, part-time employment increased by 229,000.

If true, that means that full-time employment dropped.

Hmmm again.

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What’s going on?

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Nums: The April jobs report … Sequester creates jobs?

May 3, 2013

Here’s the headline: “Non-Farm Payrolls Rise More Than Expected, Up by 165,000 in April; Unemployment Rate Drops to 7.5%”.

I guess that the Sequester – rather than inhibiting job growth – actually spurred job growth.

Not really.

But, it means team Obama will have to re-write its press release for today.

= = = = =

Reminder: April ADP’s number was  159k … 30k below the consensus forecast … and, ADP revised March down by about 20k jobs..

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Nums: The shift to part-timers …

May 2, 2013

In a prior post, we reported that middle income jobs were disappearing … apparently down mixing to lower income jobs.

Here’s more …

The NY Times reports that about 7.6 million Americans working part-time jobs are doing so reluctantly, and would rather have a full-time job … that’s about 3 million more than there were when the recession began at the end of 2007.

Most of the part-time jobs are in retail and food service … where companies are throttling full-time employment in advance of ObamaCare penalties.

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Bummer: The middle class plight … in 2 charts.

May 1, 2013

Pew released a sobering report last week: An Uneven Recovery, 2009-2011

The central conclusion: the rich have gotten richer and the middle class has gotten crushed.

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Upper and lower income groups have both increased by about 5 percentage points of the population mix.

In other words, the percentage of middle class folks – earning from 2/3s to twice the median income – has dropped by 10 percentage points.

What’s going on?

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Nums: More about the declining LFPR … blame teens, not old folks.

April 30, 2013

Remember March’s employment numbers?

Despite paltry job growth – less than population growth — the unemployment rate went down – because about 500,000 folks dropped out of the labor force.

The LFPR (labor force participation rate) dropped to 63.2%.

The Atlantic published an interesting recap of LFPRs by age group over time.

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Note that the LFPR has been   …

  • Increasing for all age groups over 35
  • Holding steady at about 80% for folks 35 to 34
  • Dropping for folks 20 to 24.
  • Dropping big-time for teenagers

While older folks are participating more in the labor force, their LFPR is substantially less than other age groups (except teens) … so the aging population is “mixing down the overall LFPR.

What’s up with teens?

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Nums: Do big companies or small companies create more jobs?”

April 18, 2013

Bit of a trick question since the constant refrain is that small companies are the ones that generate job growth.

According to a Business Week analysis of ADP National Employment data …

Since the U.S. economic recovery began in june 2009, big employers have increased employment 7.5%, while small employers have boosted payrolls only 4.9%.

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Mark Zandi, chief economist of Moody’s Analytics, was on the McCain team in 2008 but has changed sides and now regularly advocates for the Administration of TV.

He says: that there are three explanations for why large employers (1,000 employees and up) grew faster than small ones (fewer than 50 workers).

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Nums: Still, blaming the declining LFPR on seniors retiring …

April 17, 2013

Former Obama economic adviser Austan Goolsbee was back on TV saying that more than 60% of the decline in the labor force participation rate (LFPR)  is simple demographics … old people retiring.

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Last week, I posted a back of the envelop analysis that said  seniors retiring is less than 1/3 of the blame.

Today, let’s do the analysis more rigorously, using a technique that I teach called PVA – Profit Variance Analysis ….

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Nums: Are women still at a disadvantage in the workplace?

April 12, 2013

According to a recently released WSJ poll

“Women in large numbers believe they face more discrimination in the workplace than in other situations.”

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= = = = =
The “disadvantages” include lower pay than men …

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Nums: More re: labor force participation rates …

April 9, 2013

Since las t Friday’s jobs report and the flood of misdirection coming out of Washington, I’ve been trolling the BLS numbers.

Here are a couple that caught my eye …

Since 1950, the labor force participation rate (LFPR) among adult males has fallen from almost 90% to below 70% today.

Wow.  Almost 1 of 5 men have opted out.

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During the same period – 1950 to today – adult women’s LFPR has increased from about 33% to about 60%.

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Best hypotheses I can conjure are that

(1) working women  has freed some men to stay-at-me to either be Mr. Mom ,,, or just slack off

(2) more capable women have squeezed men out of jobs?

Any alternative explanations out there?

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Nums: Labor Force Participation Rate is down b/c old folks are retiring … well, not exactly!

April 8, 2013

Here’s some stuff that you won’t see other places …

OK, everybody knows that – despite paltry job growth — the unemployment rate dropped from 7.7% to 7.6%.

Why?

Because about 500,000 people dropped out of the labor force.

The “Labor Force Participation Rate” dropped to 63.2%

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Note that in the past couple of years the labor force participation rate has dropped about 3 percentage points … from over 66% to 63.2%

So, why is the Labor Force Participation Rate dropping?

Dr. Alan Krueger — Chairman of President Barack Obama’s Council of Economic Advisers – asserted on CNBC that the decline in the labor force participation rate is simply demographics.

Old people are an increasing part of the population and they are retiring.

Hmmm.

Nobody challenged him because it’s obviously true, right?

Not so fast.

Now, here are the nums that you probably won’t see any place else ….

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Nums: UE rate down to 7.6% … thanks to quitters.

April 5, 2013

The reported unemployment rate dropped to 7.6% despite a meager 88,000 jobs being added in March.

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It’s conventional wisdom that you need more than 200,000 jobs added to move the needle.

So, why did the UE rate go down.

You guessed it: the Labor Force Participation Rate dipped again … more people (about 500,000) stopped looking for jobs … and weren’t counted in the unemployment numbers.

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The administration shills have been harping on the Sequester to explain the numbers (even though it didn’t really kick in during March).

They dismiss the idea that the slowdown could be due to:

  1. Increased taxes … especially the payroll tax
  2. ObamaCare
  3. An anti-biz administration

Nope, just not enough government spending.

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Nums: Unemployment rate on the rise again?

April 4, 2013

Last month, the BLS reported a decline in the unemployment rate to 7.7%.

Most economists and other pundits are predicting that the March  UE rate – which will be reported tomorrow – will remain at that level.

But, yesterday’s ADP employment numbers were almost 20% below the consensus estimates … 185k vs. 225k.

Today, the BLS reported: “In the week ending March 30, the advance figure for seasonally adjusted initial claims was 385,000, an increase of 28,000 from the previous week’s unrevised figure of 357,000. The 4-week moving average was 354,250, an increase of 11,250 from the previous week’s unrevised average of 343,000.”

Here’s another contra indicator … the Gallup Daily Tracking of Employment.

When the daily numbers for the past 3 months are averaged, there’s a big spike upward from February to March.

Gallup is again pegging the unemployment rate over 8%.

Bottom line: If the consensus 7.7% is the over-under …. I’m betting the over, for sure.

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Charts: The employment picture ….

March 15, 2013

There was Administrative euphoria last week when the employment numbers were released … almost 200,000 jobs added.

In the words of former Obama economic guru Austan Goolsbee: “Whoo-hoo”

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Yep. positive sign.

But, let’s look a little deeper … a couple of charts I haven’t seen other places.

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More “temps” is the workforce … is that good or bad?

March 15, 2013

Prof. Mark Perry of AEI crafted the below chart and observes …

Employment in temporary help services grew by 16,100 jobs in February, bringing the total number of temporary and contract workers to 2.58 million last month, the highest level since August 2007.

As a leading indicator of overall US labor market demand, the ongoing positive trend in temporary hiring is a sign that the labor market is gradually improving and suggests an increased pace of broader-based hiring for workers going forward in 2013.

It’s also likely that many employees who initially get hired on a temporary basis will be offered employment on a full-time permanent basis as the economy improves.

Prof Perry sees the glass as half full

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Predictably, I see the glass as half-empty …

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Nums: The employment situation reduced to 2 charts …

March 12, 2013

This chart can not be shown too often.

It shows the commitment the Obama Administration  made to secure the trillion dollar faux-stimulus funding.

We were supposed to be around 5% unemployment now.

Oops

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Source

Here’s the second chart …

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Gallup: Unemployment rate trending up, over 8%.

March 7, 2013

Seems like many folks have lost interest, but tomorrow, the official BLS employment numbers come out.

Initial unemployment claims are still hovering around 350,000 per week … suggesting that the employment picture is staying pretty stable.

As a cross-check to the government numbers, I like to compare them with Gallup’s daily tracking poll.

Hmmm.

Since mid-February , Gallup’s measured unemployment rate has been rising and, in the past week or so, has broken back up above 8%

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Wonder what the BLS will report tomorrow.

I’m betting the under …

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Chart: What happens when the minimum wage is raised?

February 20, 2013

President Obama is pushing to raise the minimum wage to $9 per hour.

The rationale is well-intended: get low-earners closer to a “living wage”

The major argument against the move is econ 101 … and empirical evidence.

The below chart – from AEI’s Mark Perry –  cuts to the chase.

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The chart plots the level of the Federal minimum wage against the number of percentage points that the teenage unemployment rate is over the all-inclusive unemployment rate.

Implicitly, the analysis assumes that the bulk of minimum wage jobs go to teens … and, measuring the differential (instead of the gross rate) normalizes to the overall state of the economy.

The conclusion is stark: when you raise the minimum wage you lose jobs.

Period.

But, some folks argue that economic life is better for the minimum wagers who retain their jobs.

Not so fast …

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GDP down, unemployment claims up, unemployment rate up, Dow heads for record high … say, what?

February 2, 2013

Many folks are wondering: Why has the stock market continued to steam ahead despite a ho-hum (or humbug) economy?

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Source: Council of Economic Advisers

Answer: It’s less a matter of optimism re: a recovery, and more a function of the Fed pouring money into the economy.  You know, quantitative easing — QE-infinity.

Here’s why …

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GDP down, unemployment claims up, Jobs Council fired … say, what?

February 1, 2013

Let me be sure that I have this right.

According to the WSJ …

The government reported that the U.S. economy shrank for the first time in more than three years in the fourth quarter of 2012.

Gross domestic product — the broadest measure of goods and services churned out by the economy — fell at a 0.1% annual rate in the fourth quarter of 2012.

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The drop, a surprise, was driven by a sharp fall in government spending and by businesses putting fewer goods on warehouse shelves, as well as by a decline in exports.

A one quarter contraction of economic output doesn’t mean the economy is formally in recession, but it is unusual for such contractions to happen in the middle of economic expansions.

In fact,  a similar drop has only happened one time in the past fifty years.

Of course, the media bellowed that the number wasn’t as bad as it looked since much of the hit came from a drop in government spending which, incidentally, had surged in the pre-election 3rd quarter.

Hmmm.

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The story gets better …

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The MoTown microcosm …

December 13, 2012

In prior posts this week, we noted that – on a macro  basis — there are 122 million adults in the US who are dependent on 121 million tax payers who work in private sector.

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A microcosm of the US picture is the city of Detroit

You know, Detroit as in ”about to file for bankruptcy”

Detroit as in “we voted you in, now bail us out”.

Detroit as in “unions are the way to middle class success”.

Consistent with the emerging national picture, it turns out that the  257,576 people in Detroit who do not have a job and are not looking for one outnumber the 224,846 residents who do have jobs.

Here are some other factoids courtesy of CNS

(more…)

Work harder: An increasing number of folks are depending on you.

December 12, 2012

In a prior post — Work harder: “Tax payer dependents” are counting on you. — we worked the nums to show that there are more tax payer dependent adults than there are private sector workers.

Specifically, there are about 121 million private sector works and about 122 million tax payer dependent adults — 89 million working age adults who aren’t looking for work, the 12 million unemployeds, and the 22 million government employees (yes, our tax dollars pay their wages, benefits, and over-stuffed pensions)

That’s a total of 122 million adults who are dependent on 121 million private sector workers.

Below are the totals over time.

Back in 2000, there were about 11% more private sector workers than tax payer dependent adults.

The lines crossed in mid-2009 … and now, there are about 1% more tax payer dependent adults than there are private sector workers.

So, we’ve got to raise taxes on the workers to support those who are dependent on them.

Ponder that when your alarm goes off tomorrow.

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Work harder: “Tax payer dependents” are counting on you.

December 11, 2012

Here are some nums that should give you pause.

There are about 315 million people living legally in the US.

244 million — 77.5% of the 315 million – are working age … the rest are kids

155 million of the 244 million are officially counted “in the labor force” … that’s 63.8% – the labor force participation rate.

Of the 155 million, 143 million are employed; 12 million are unemployed … that’s 7.7% of the 155 million in the labor force

Of the 143 million who are employed, 22 million (15%) work for Fed, state and local government121 million work in the private sector

The 121 million private sector employees pay the taxes that support

  • 89 million working age adults who aren’t looking for work
  • 12 million unemployeds
  • 22 million government employees (remember, our tax dollars pay their wages, benefits, and over-stuffed pensions)

That’s a total of 122 million adults who are dependent on the taxes paid by 121 million private sector workers.

Got that?

There are more tax payer dependent adults than there are private sector workers.

Think about it …

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Coming: How the ratio of tax payer dependent adults to private sector workers has changed over time.

Stay tuned ….

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