Welcome to February 2022 CIVPART data at 62.3%, otherwise known as September 1977

 

The 2020 average was revised to 61.8 and the 2021 average is 61.7.

One way to grow the participation rate, as seen in the first chart, which is monthly, is TO NOT HAVE TO COUNT PEOPLE.

How do you do that?

The economy sucks so bad you drop out of the labor force, which instantly shrinks its size. So as jobs recover a little bit the participation rate looks better because more people compared with the smaller underlying base are working again.

 

Not in labor force on an average basis hit an all time high in 2021 of 100.24m, pushed mostly by the 2008 catastrophe for older workers, while growth in the labor force has been anemic to flat because people aren't having enough kids.

People who remember the malaise of the Jimmy Carter era who are still alive today can relate. 

CIVPART hovering on the 63% line was the Trump era's "greatest economy ever", lol.

Click any graph to enlarge.

 

April 2019: 882K dropped out of labor force, labor force contracted 726K, employment level contracted 103K, participation rate fell to 62.8% (the 2016 average), average weekly hours so far in 2019 down 0.4 from 2018 average

Data.

Data.

Data.

Data.

Data.

But other than that it's an economic boom because total nonfarm is up 263K.

Using the historical average of labor participation, 2.3 million more people age 16-24 should have been in the labor force in 2018 than were

The civilian labor force level of people age 16-24 averaged almost 21 million in 2018, 55.2% of the civilian noninstitutional population age 16-24 averaging 38 million. Upping the participation rate simply to the average of 61.2% for all the years shown in the graph below would have raised their labor force level to 23.3 million, 2.3 million higher than actual. 

Too bad for them, the low paying jobs they need to get work experience and a leg up on life are being taken by immigrants imported by the millions by the two political parties.

The ones we don't kill in the womb we torture in other ways.

December 2013 Unemployment Falls To 6.7%, Total Nonfarm Jobs Up Only 74,000

The employment situation report for December 2013 is here.

The headline rate falls to 6.7% ending 5 years of unemployment at or above 7%, with massive numbers of people continuing to leave the labor force.

In the last year the number counted as unemployed fell 1.9 million, while nonfarm employment grew at a rate of 182,000 per month in 2013 vs. 183,000 per month in 2012, or 2.18 million. Roughly a wash.

Total nonfarm employment continues below the 2007/2008 peak of 138.1 million, still lagging that level by 1.2 million fully 6 years later (seasonally adjusted) despite growth in the population since that time of at least 14.3 million.

The headline unemployment rate has fallen from 7.9% at the beginning of 2013 to 6.7% at the end largely because those not in the labor force increased by 2.89 million in the last year (not-seasonally-adjusted). The not-seasonally-adjusted level reached a new high at 92.338 million. People who leave the labor force are not counted as unemployed.

In the 8 years from 2001 through 2008 under Bush those not in the labor force increased by 10.3 million, or 14.7%. That record has already been matched under just 5 years of Obama: 11.3 million have left the labor force, or 14.0% (numbers seasonally adjusted).

The civilian labor force participation rate, the percentage of working age people actually working, remains mired at Carter administration levels from 1977 and 1978.

 

The Civilian Labor Force Participation Rate of 63.7 Was Last This Low in May 1983

The pinnacle in this metric was reached in the first four months of the year 2000 at the level of 67.3 percent. Data viewable here.

This is a picture of a society which has lost its driver for jobs.

That driver was debt, mostly in the form of housing. Then government decided under Bill Clinton, Phil Gramm and Newt Gingrich to let you extract the built up capital in housing, skimming the operation like a casino operation.

It was fun while it lasted! At least the Japs had savings to get them through.

Now it's just beans and rice, and rice and beans.

If we had some beans.

If we had some rice. 

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Since this is trending on Dec 13, 2021, here's the latest chart showing the 2020 average for CIVPART at 61.7%, a level last seen round about 1976. Things have only gotten worse. The level in Nov 2021 is 61.8%. I include a chart for the sputtering debt engine as well.

We had beans and rice tonight, by the way.

 

 

Labor Participation Rate Falls To Carter Administration Levels in 1979-1980

The average civilian labor force participation rate during the Carter Administration was 63.2 percent.