Our Incredible Shrinking Workforce

October 31, 2013

At least more are recognizing our growing problem … William Galston: Unless men re-enter the job market, prospects for vigorous growth in the labor force are dim.

Participation in the workforce is falling, the pace of job creation is anemic, and long-term unemployment remains stubbornly high. Many newly created jobs pay less than those that disappeared during the Great Recession, so real wages are stagnating, and median household income is no higher than it was a quarter of a century ago.

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People Are Losing Their Jobs Over Obamacare

September 16, 2013

And the ones left in the labor market are forced into reduced salary part-time work, in Obomba’s shrinking world.

Listen up people … You are being downsized.

What rebound, it’s just the talking Obomba, talking about it.

Here is what matters the pool of available jobs has shrunk.

CIVPART_Max_630_378

And so what do we do with the increased workers due to birth rates. Sorry. No work for you, we need to save those jobs for the ignorant illegal workers.

And the cause of the financial crisis was because people were given home loans that everyone knew they could never repay.  Until there were no more saps to buy the worthless , mortgages.

Government creates one crisis, then solves with another crisis.

The Obomba way ...


June Payrolls +195K Much Higher Than Expected (7.6%); Underemployment Rate Soars To 14.3%

July 5, 2013

If you divide the pie into small enough pieces … Hey lookey, under employment soars as temp workers move up … make less per worker.

Here is what you need know … The Unemployment Rate stayed at 7.6% despite expectations of a drop to 7.5%, although the real action was in the underemployment rate which exploded from 13.8% to 14.3%. Yes their really is an official UNDER employment rate.

Labor Force Part June

Source Zero Hedge …

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If You Believe In Lies, Then

June 26, 2013

HOW’S THAT HOPEY-CHANGEY STUFF WORKIN’ OUT FOR YA? (CONT’D): Some Unemployed Keep Losing Ground. “The recession ended four years ago. But for many job seekers, it hasn’t felt like much of a recovery. Nearly 12 million Americans were unemployed in May, down from a peak of more than 15 million, but still more than four million higher than when the recession began in December 2007. Millions more have given up looking for work and no longer count as unemployed. The share of the population that is working or looking for work stands near a three-decade low.” Maybe the recession didn’t really end four years ago.

 


Old vs Young Workers … AMNESTY Just Make Things Worse For The Young Workers

May 1, 2013

Yes most illegals have no education, but it erodes the overall labor pool available for the young, and reduces salaries for all.

Nearly half, 42 percent, of recent graduates expect they will need an advanced degree to further their career and almost a quarter are already planning to take graduate courses. More degrees, more debt, more dead end opportunities for a generation that is stuck in place not because it is underqualified, but because of barriers to entry erected by those already in the workforce, especially those aged 55 and over who courtesy of Bernanke’s ZIRP4EVA can’t afford to retire, and who as the following chart shows are employed more now than ever. The losers: those aged 20-24 whose employment level has not budged in the past four decades despite a demographic boom that puts millions more into precisely this age cohort with every passing year. Where are those who are not in the labor force (and not playing Call of Duty)?

Why in college of course.

jobs young vs old

Young vs Older workers

More from Reuters:

 “For our nation’s youngest workers, as well as for the workforce at large, there is a real need for employers to reexamine how they hire, train and develop their employees,” said Katherine Lavelle, of the global management consulting firm Accenture, which conducted the survey.

More than half of graduates said it was difficult finding a job, but 39 percent were employed by the time they left college. Sixty eight percent said they are working full time, while 16 percent are in part-time positions.

The top industries that graduates wanted to work in were education, media and entertainment and healthcare.

Just over half, 53 percent, of graduates found full-time jobs in their field of study.

In addition to being underemployed many graduates thought they would have done better in the job market if they had studied a different major, and more than half also intended to go back to school within the next five years.

The biggest disappointment: the difference between perceptions about wage potential and reality.

 The survey uncovered a gap between what students expect to earn in their first job and their actual salary. Only 15 percent of this year’s graduates think they will earn less than $25,000 but a third of recent graduates said they make that amount or less.

Will any of this change the sad reality where even the hope of a lucrative future for most involves drowning in debt? Of course not. After all in the new normal, “money dilution is prosperity” and “debt is wealth.” If this is the case for sovereign nations and corporations, why not for the individual as well. Because it is not as if anyone expects any of the record outstanding debt to ever be repaid.


Reality Of Long Term Unemployment

April 15, 2013

The Terrifying Reality of Long-Term Unemployment.

“There are now two labor markets. There’s the market for people who have been out of work for less than six months, and the market for people who have been out of work longer. The former is working pretty normally, and the latter is horribly dysfunctional.”


Degree Inflation: Now It Takes A BA To Be A File Clerk

February 22, 2013

“The college degree is becoming the new high school diploma,” writes Catherine Rampell in the New York Times, “the new minimum requirement, albeit an expensive one, for getting even the lowest-level job.”

Economists have referred to this phenomenon as “degree inflation,” and it has been steadily infiltrating America’s job market. Across industries and geographic areas, many other jobs that didn’t used to require a diploma — positions like dental hygienists, cargo agents, clerks and claims adjusters — are increasingly requiring one, according to Burning Glass, a company that analyzes job ads from more than 20,000 online sources, including major job boards and small- to midsize-employer sites.

This up-credentialing is pushing the less educated even further down the food chain, and it helps explain why the unemployment rate for workers with no more than a high school diploma is more than twice that for workers with a bachelor’s degree: 8.1 percent versus 3.7 percent.

Some jobs, like those in supply chain management and logistics, have become more technical, and so require more advanced skills today than they did in the past. But more broadly, because so many people are going to college now, those who do not graduate are often assumed to be unambitious or less capable.

Some observers might be tempted to argue that this “up-credentialing” is a positive thing. Who can be against a more thoroughly-educated work force?

The problem, of course, is that requiring entry-level workers to invest tens of thousands of dollars and years of time into degrees qualifying them for entry-level jobs is hardly a positive development for our economy. Higher education policy has all but turned student loans into an entitlement, and the end result is an oversupply of college-educated workers in the job market.

To the point where jobs which shouldn’t require a college degree are not requiring it. Because why not? Everyone has one anyway.

Which speaks volumes about the diluted value of higher education in general. These days higher education isn’t helping some students find jobs. In some ways it’s acting as a barrier to getting jobs.

Of course if you interview people for your company and realise the high school graduate can’t even do the basic math, then you would understand. It’s like ignorance is a required course in high school.

Isn’t this what Rush Limbaugh said a few days back?

The utter ignorance of todays graduates. And you wonder where the low information voters come from. Ha, they graduate from public schools.


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