‘RECOVERY’: Record 95.4 Million Americans Are No Longer In The Labor Force As 968,000 Exit In One Month

Record 95.4 Million Americans Are No Longer In The Labor Force As 968,000 Exit In One Month:

In what was otherwise a mediocre jobs report, in which the establishment survey reported that a lower than expected 261K jobs were added to the post-Hurricane economy, the biggest surprise was not in the Establishment survey, but the household, where the unemployment rate tumbled once more, sliding to a new cycle low of 4.1%, for all the wrong reasons, because a quick look at the participation rate metrics showed that in October there was a sharp decline, with the labor force part. rate sliding from 63.1% to 62.7%, back to 4 decade lows…

… driven by one disturbing metric: the number of people who exited the labor force soared by a near record 968,000 in October – the third highest on record – pushing the total number of people not in the labor force to a record 95.385 million, as the civlian labor force shrunk by whopping 765,000 in one month.

This took place as the number of employed Americans declined by 484,000, however since the unemployment rate denominator dropped more, it translated into an actual decline in the unemployment rate!

So much for economist hopes that potential workers from the fringes are coming back to the labor force. Of course, the implication is even worse: with more slack being created in the form of workers who are leaving, not entering, the labor force, this creates a buffer for wage growth, and suggests that any hope for rapidly rising wages has once again been derailed.

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8 thoughts on “‘RECOVERY’: Record 95.4 Million Americans Are No Longer In The Labor Force As 968,000 Exit In One Month

  1. http://www.express.co.uk/news/world/875404/egypt-drug-laws-travel-british-tourist-death-penalty-painkillers-laura-plummer-tramadol

    Shock German Army report sees collapse of EU and West possible

    THE complete disintegration of the European Union (EU) and the West over the next few decades is a possibility, according to a shock internal report drawn up by the German Army.
    http://www.express.co.uk/news/world/875434/EU-news-West-collapse-Germany-army-Bundeswehr-Macron-Juncker

  2. I really empathise with all the readers who have become cynical and even critical of the alternative media’s predictions of an economic collapse since the sub-prime stock-market and bankster hiccup in 2008.
    Nothing but scaremongering has dominated the headlines, just like the little shepherd boy who cried “WOLF”.

    But even I, with limited intelligence can work out how inflation is gathering pace, how there are no proper manufacturing jobs created, and how our savings and investments are diminishing, with no returns.

    Similarly, even I can see how the interest due on all the National Debts of all the largest economies in the western world, cannot be repaid, let alone the core debt, which bodes badly for middle class pensions and savings as incompetent governments’ funds dry up and they turn to bail-ins for feathering their nests.

    We have all been in a slump since 2008. The mainstream bullshit media has fudged, ignored, flowered and hidden truths for the banksters who have manipulated figures and used reserves to buy up shares to create a false stock-market.

    Those of us with our feet on the ground, can now smell it in the air, because at long last, the bankster establishment is openly hinting, economies aren’t as healthy as they first told us, that cash is to be eliminated, that a cryptocurrency could well be the new world currency. Big change is officially on the horizon.

    http://www.alt-market.com/articles/3310-the-economic-end-game-continues

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