Occupy DemocratsDon't look now, but the Obama economy is firing on all cylinders. Not only that, but wages are FINALLY rising for regular working Americans.
From Bloomberg: "A November surprise that included a jump in wages as well as the biggest hiring surge in almost three years suggests the world’s largest economy is putting aside doubts about the strength of the expansion."
Read more here: http://bloom.bg/12wBD1S
Image by Occupy Democrats.
Apr 6, 2013
Number of the Week: Youth Unemployment at 22.9%?
Ben Casselman Wall Street Journal
Before talking about education this week I would like to remind people that the employment statistics media are providing the public with all the positive cheers to rising employment are not true. Unemployment of 5.8%? REALLY? Of course not----that is only the number of people receiving unemployment benefits. The long-term unemployed has sky-rocketed and the number of people falling out of the labor force participation rate is highest in modern history. So, what do Clinton Wall Street neo-liberals do along with Bush neo-cons? THEY PUT LIPSTICK ON THIS EMPLOYMENT PIG!
My comments below as regards one local employment sector is mirrored across all job categories and across the nation. It is super-sized in Maryland and especially Baltimore as the middle-class jobs are replaced by people categorized as part-time and temporary. This is what is driving the huge numbers of people not participating in the labor market. Most people do not want to take these low-paying temporary jobs and are left not working.
Below you see the spin given for baby boomers leaving the job market----THEY ARE DOING IT BECAUSE THEIR 401Ks have gained in value and they now feel safe to enjoy that early retirement-----
WHO BELIEVES THAT???????
I focus on Baltimore and the black employment because our population stats reflect a majority black workforce but the same picture exists across gender and race and for the same reasons. Baltimore's black community was devastated by the gutting of the public sector employees after the 2008 crash. For what was the only source of income for many black families--and extended families---the loss of middle-class teaching positions among other public jobs took a toll on the extended family support as well. Now, everyone knows this is what would happen when teachers and administrators were down-sized and as everyone in Baltimore now knows----all those positions are now being filled with VISTAs and temporary Teach for America types that often have no connection to the city and have no job security. Our Education Committee chair----Mary Pat Clarke leads that effort to outsource all public school positions to national corporate non-profits and part-time workers and calls the dismissal of thousands of public school employees ----retirement.
WHEN YOU LOOK AT EMPLOYMENT STATS REMEMBER THAT IF THE US IS AT THE LOWEST LABOR PARTICIPATION IN MODERN HISTORY----THEN EVEN THOSE PARTICIPATING FALL INTO THIS QUASI-EMPLOYMENT. THE NUMBERS OF PEOPLE UNDER-EMPLOYED IS RECORD-BREAKING.
I was speaking to our local Baltimore City education committee chair Mary Pat Clarke about the mass 'firing' of the city's education employees. The black middle-class took a blow when these staff cuts were made. Clarke refused to call this 'firing' because it was done with threats of lost pension and wages. Once Baltimore City Hall reduced the number of public employees by what I call firing----they brought in Teach for America and VISTAs to replace school employees.....part-time private corporate social worker techs..... This is what hides the unemployment in America. The number of baby boomers out of work is greater than 25% and it is not because they are choosing to stop looking----Now that these corporate pols got these public workers to retire to save their pensions-----public pensions are being gutted and then there is this coming economic crash targeting the public sector that will kill public pensions.
MAKE NO MISTAKE----BOTH CLINTON NEO-LIBERALS AND BUSH NEO-CONS ARE COMMITTED TO AMERICANS REMAINING LARGELY UNEMPLOYED.
Below you are given baby boomers living high after retiring---but we all know that is not what retirement looks like for most baby boomers. People are panicked by the idea of not having enough for old age as all their wealth is being stolen from one fraud then another. The QE-fueled BOND MARKET COLLAPSE WILL HAVE ALL THOSE INVESTMENT GAINS WIPED AWAY AS JANET YELLEN KNOWS and what Yellen calls a tighter supply of workers causing lower wages reflects Americans forced out of the workforce deliberately-----to create these conditions of lower wages.
THESE WALL STREET POLS ARE SOCIOPATHS TAKING THE US TO THIRD WORLD STATUS!
Baby Boomers Give Up, Drop Out of U.S. Labor Force
By Victoria Stilwell | February 11, 2014
When Robin McLane’s generation hit public schools in the 1950s, there were never enough classrooms or teachers to accommodate the bulge, she said. So she’s not surprised about the latest shock that boomers are delivering to the U.S. economy.
“People all around me, relatives and friends, are either retiring, or they’re finding it’s very difficult to find work anywhere from 55 on,” said the 65-year-old, who lives in Portsmouth, New Hampshire, and retired from her job as a high school literacy specialist in June. “For me, I was ready to move on.”
The share of Americans in the labor force, known as the participation rate, is hovering around an almost four-decade low as the population ages and discouraged job seekers give up looking for work. Federal Reserve research shows retirees are at the forefront of the recent exodus, which blunts the impact of policy aimed at boosting the economy and workforce.
In the two years ended 2013, 80 percent of the decrease in labor force participation was due to retirement, according to calculations by Shigeru Fujita, a senior economist at the Federal Reserve Bank of Philadelphia. And while the number of discouraged workers rose sharply during and after the recession, the group’s ranks have been roughly unchanged since 2011.
That tilts the debate on whether the participation rate can fully rebound alongside the improving economy, as retired workers are unlikely to re-enter the workforce, said Michelle Girard, chief U.S. economist at RBS Securities Inc., in Stamford, Connecticut. A tighter supply of workers means wage pressures would build faster than otherwise, something Fed Chairman Janet Yellen may watch as a leading indicator of inflation, Girard said.
Dropping Out “Even when the employment situation improves and the job prospects improve, it’s unlikely that this group is going to be enticed back into the labor market,” Girard said. “The implication is, well, if they’re out for good, you may not have as much slack in the labor market as you think.”
The labor-force participation rate for all ages was 63 percent last month, within 0.2 percentage point of its lowest level since March 1978, according to Labor Department data.
Workers who are marginally attached to the labor force — people not looking for work who would still take a job if one were available — have a 62 percent transition rate into the workforce, separate Fed research shows. In contrast, those who have dropped out, do not want a job and are not looking for one have a 5 percent transition rate.
‘Baby Boomers’ The term ‘baby boomers’’ refers to the cohort of people born in the U.S. from 1946 to 1964, when a dramatic increase in birth rates followed World War II. The generation grew up in a time marked by change and protest, ranging from the civil rights movement and the Vietnam War to a counterculture popularized by former Harvard University psychologist Timothy Leary’s phrase — “Turn on, tune in, drop out” — that embraced drug use and questioned authority.
The sheer size of the boomer generation is overshadowing the fact that participation rates for older workers, although lower than other age groups, have been steadily rising during the past two decades.
Workers 55 years old and older are projected to make up 25.6 percent of the labor force in 2022, versus 20.9 percent in 2012, according to a Bureau of Labor Statistics report. U.S. residents in that age group had a participation rate of 40.3 percent last year, compared with 81 percent for those 25 to 54, considered prime working years. For Americans 65 and older, the rate is 18.7 percent, up from 12.5 percent two decades ago.
‘Dramatic Change’ “It’s been a very dramatic change in labor force participation because we’ve had a very dramatic change in the demographics,” said Alicia Munnell, director of the Center for Retirement Research at Boston College in Chestnut Hill, Massachusetts.
While some Americans may choose to retire, others may be driven into it by unemployment following the deepest recession since the Great Depression, a report from the center this month showed. Some 44 percent of older Americans stopped looking for work a year into their job hunt, and those with access to a faster exit through Social Security benefits or pensions quit searching even sooner.
“They really don’t have the stomach for a very long job search,” Munnell said. “If they are eligible for Social Security, they kind of give up and say, ‘I’m going to retire.’”
Slower workforce growth may limit gains in potential gross domestic product to 2.6 percent on average over the next eight years, the BLS report states, compared with an average 3.1 percent rate in the decade leading up to the recession.
Still, not all boomers are counting down the days until retirement. Almost half of those still employed say they don’t expect to retire until they are 66 or older, including some who say they’ll never stop working, according to a Gallup poll published Jan. 20.
When Lynda Cantu, 57, retired from her job as an administrative assistant for Concordia Parish School Board in Louisiana, she was looking forward to the extra time she’d get to spend with the grandchildren.
It turned out she wasn’t as ready as she thought, and she missed getting out of the house every day. Joining a friend who found herself in a similar situation, Cantu now works in a pool, restaurant and welding-supply store across the river in Natchez, Mississippi, where she sets her own hours. She’ll stop working when “the job is done.”
“I knew that once I retired, with savings and planning, that I would be taken care of,” she said. “It wasn’t a financial concern,” said Cantu, who worked with the school system for 38 years. “Going back to work, that’s just the gravy. That’s play money.”
Others are being convinced to retire after Fed stimulus known as quantitative easing contributed to a rally in stocks following the economic slump, helping rebuild financial safety nets, according to Torsten Slok, chief international economist at Deutsche Bank AG in New York. The average balance in 401(k)s, the retirement savings plans provided by some companies, for people in their 50s and 60s reached a record $168,384 last year, surpassing the pre-recession high in 2007 by 42 percent, according to Deutsche Bank calculations.
“The Fed did QE and has managed to get the economy to come back,” Slok said in an interview. “The tragic irony is that the higher stock market will cause some people to leave the labor force sooner,” which will diminish long-run growth. Fed policy is aimed at boosting the economy and the labor market.
For whatever reason they exit, retirees have one of life’s luxuries to look forward to, McLane said: leisure time. She’s using hers to figure out where she wants to travel in the coming years — her next stop is Sedona, Arizona, with friends from her book club — and to experience things she’s missed.
“The middle of the day is so wonderful,” McLane said. “I go to aquacise two days a week. I just went to visit some of my cousins the other day and we had brunch together. The amount of time that you have when you gain 40 hours is incredible, and so much fun, too.”
–Editors: Carlos Torres, Gail DeGeorge
I have stated before that the high structural unemployment is driven by the elimination of oversight, accountability, and public justice. That workforce right there represents why labor participation is lowest in modern history. Fast forward to 2022 and you see global corporations and their pols do not see this record-breaking lack of participation changing......because they do not intend to rebuild oversight and accountability-----THAT IS THE NEW NORM SAY NEO-LIBERALS AND NEO-CONS.
THIS IS WHAT TRANS PACIFIC TRADE PACT IS ABOUT----IT MAKES SURE THAT NO OVERSIGHT OR ACCOUNTABILITY OCCURS AND UNEMPLOYMENT FOR US WORKERS REMAINS HIGH BECAUSE THIS MAXIMIZES CORPORATE PROFITS.
It is good to see that these workforce participation rates are projected to fall as far in the future as 2022-----women and people of color seem to be the ones squeezed from the full time workforce the most. Remember, as these people are being forced out the wealth of the American people is falling fast with our savings, investments, and assets being gutted. This is what global market does to a first world nation----it leaves the citizens tied to global economy and allows capture by global corporations. NONE OF THIS HAS TO EXIST.
DO YOUR HEAR YOUR POLS SHOUTING TO BUILD YOUR STATE ECONOMY SO THAT IT IS DRIVEN BY DOMESTIC SMALL AND REGIONAL BUSINESSES AND NOT GLOBAL CORPORATIONS? IF NOT, THEY ARE CLINTON NEO-LIBERALS THAT NEED TO GO BY RUNNING AND VOTING FOR LABOR AND JUSTICE IN ALL PRIMARIES!
When I gave this as my campaign stance at the beginning of the primaries-----getting rid of global corporate control of Maryland economy----that was the last time I had access to a major primary forum----they do not want any politician promoting the end of global market control to have a voice! Again, the FDR buildup of the New Deal and government accountability is what brought women and people of color into the workforce en masse----we are the people filling those government positions of accountability and the middle-management corporate positions that made sure corporations followed regulations and laws.
THIS IS WHERE THE JOB MARKET DECLINES HAVE GONE AND NEO-LIBERALS ARE TEAMED WITH NEO-CONS TO MAKE SURE THIS CORPORATE ACCOUNTABILITY DOES NOT RETURN!
Labor force projections to 2022: the labor force participation rate continues to fall
Because of the decreasing labor force participation rate of youths and the prime age group, the overall labor force participation rate is expected to decline. The participation rates of older workers are projected to increase, but remain significantly lower than those of the prime age group. A combination of a slower growth of the civilian noninstitutional population and falling participation rates will lower labor force growth to a projected 0.5 percent annually.
The U.S. civilian labor force—the number of people working or looking for work—has gone through substantial changes in its size and demographic composition over the last half of the 20th century. During the 1970s and 1980s, the labor force grew vigorously as women’s labor force participation rates surged and the baby-boom generation entered the labor market. However, the dynamic demographic, economic, and social forces that once spurred the level, growth, and composition of the labor force have changed and are now damping labor force growth. The labor force participation rate of women, which peaked in 1999, has been on a declining trend. In addition, instead of entering the labor force, baby boomers are retiring in large numbers and exiting the workforce. Once again, the baby-boom generation has become a generator of change, this time in its retirement. Moreover, the jobless recovery of the 2001 recession, coupled with the severe economic impact of the 2007–2009 recession, caused disruptions in the labor market. In the first 12 years of the 21st century, the growth of the population has slowed and labor force participation rates generally have declined. As a result, labor force growth also has slowed. The Bureau of Labor Statistics (BLS) projects that the next 10 years will bring about an aging labor force that is growing slowly, a declining overall labor force participation rate, and more diversity in the racial and ethnic composition of the labor force.
The U.S. labor force is projected to reach 163.5 million in 2022.1 (See table 1.) The labor force is anticipated to grow by 8.5 million, an annual growth rate of 0.5 percent, over the 2012–2022 period. The growth in the labor force during 2012–2022 is projected to be smaller than in the previous 10-year period, 2002–2012, when the labor force grew by 10.1 million, a 0.7-percent annual growth rate.
Every 2 years, BLS projects labor force levels for the next 10 years. The present set of projections covers the 2012–2022 period and estimates the future size and composition of the labor force. The projection of the labor force is the first step in the BLS projection process in which the aggregate economy, industry output and employment, and occupational employment in the next 10 years are projected. Labor force growth is an important supply constraint on overall economic growth.
The labor force projections are estimated by combining population projections calculated by the U.S. Census Bureau with the labor force participation rate projections developed by BLS. Consequently, the growth of the labor force is the result of simultaneous changes in the civilian noninstitutional population and the labor force participation rates of the various gender, age, race, and Hispanic origin groups.
According to the Census Bureau’s 2012 population projections, the U.S. population is expected to continue to grow slowly, to grow older, and to become more racially and ethnically diverse.2 During the 2012–2022 period, the growth of the labor force is anticipated to be due entirely to population growth, as the overall labor force participation rate is expected to decrease from 63.7 percent in 2012 to 61.6 percent in 2022. In order to carry out its projections, BLS analyzes and projects the labor force participation rates of 136 different groups, including the two genders, 17 age groups, and four race and ethnicity categories. The basis of these projections is historical labor force participation trends in each of the various detailed categories, according to data provided by the BLS Current Population Survey (CPS) program.3
Remember, that 6.1% UNemployment is only the number of women receiving unemployment benefits. The participation rate of 56% shows all the employment gains by women over decades has been erased.
Just a small example -----I go into any M and T Bank branch in Baltimore and all I see are men at the desks as customer account reps. Used to be a job filled mostly by women. Women are now almost always behind the windows as tellers....the lowest paid positions in banking.
This election saw women as the largest group not coming to the polls for the Clinton Wall Street neo-liberals this past election because-----THEY DO NOT WANT THESE CORPORATE POLS. Clinton has erased all of the gains for women and people of color by embracing neo-liberalism and handing the Democratic Party to Wall Street!
RUN AND VOTE FOR LABOR AND JUSTICE IN ALL PRIMARIES AND GET BACK TO A DOMESTICALLY RUN ECONOMY!
Record 55,553,000 Women Not Participating in Labor Force
October 3, 2014 - 8:48 AM By Ali MeyerSubscribe to Ali Meyer RSS (CNSNews.com) -
A record 55,553,000 women 16 years and older did not participate in the labor force in September, according to data from the Bureau of Labor Statistics (BLS). This means that 55,553,000 women in the United States did not have a job and did not actively seek one in the past four weeks.
The number of women not in the labor force increased from 55,345,000 in August to 55,553,000 in September, an increase of 208,000.
The participation rate for women also dipped in September to 56.7 percent; it has not been this low since September of 1988 when it was 56.6 percent. This means that only 56.7 percent of women participated in the labor force by either having a job during the month or actively seeking one.
The number of employed women decreased from 68,525,000 in August to 68,499,000 in September, a decline of 26,000. However, the number of unemployed women also declined from 4,466,000 in August to 4,390,000 in September, which means there were 76,000 less unemployed women in September.
The unemployment rate for women declined from 6.1 in August to 6.0 in September.
These statistics were compiled from various sources by The Black Star Project.
This 50% is true in Baltimore where unemployment stats have unemployment at 6%. This fact is the driver of higher crime and violence in Baltimore and it is the middle-class that falls into this path of increasing injustice. When most of your citizens have no way to earn money and it all centers on the policies passed by Baltimore City Hall courtesy of Baltimore Development Corporation and Johns Hopkins----- you of course push more people into black market economy. No problem says Baltimore City Hall----we will simply pass laws of zero tolerance and send most of these people to jail while passing laws that hand these prisoners over to private prison contractors to work for almost nothing doing all those public sector jobs that were cut to save money.
It takes a very serious level of sociopathy to come up with these public policy strategies.....all meant to maximize corporate profits!
HANDS UP BALTIMORE CITY MIDDLE-CLASS------BALTIMORE CITY HALL DOESN'T CARE IF THEY CREATE THE CONDITIONS FOR CRIME AND VIOLENCE----
52% of Black Men in Chicago Are Not Working
May 9, 2012
52% of Black Men in Chicago Are Not Working – Quality of Life Very Low for Black Men in Chicago
Black community demands $100 Million Chicago Plan for Black Men and Boys Similar to New York City’s $127 Million Plan to Improve Outcomes for Black Men and Boys
Chicago cannot achieve its full potential as a great city when 52% of its Black men are not in the labor force. Only 48.3% of available Black men in Chicago between the ages of 16 and 64 are employed, (according to a recent report, Race and Male Employment in the Wake of the Great Recession by Marc Levine of the Center for Economic Development at University of Wisconsin-Milwaukee). A similar study by Andrew Sum with the Center for Labor Market Studies at Northeastern University in Boston shows that 90% of young Black men 16 to 19 years old did not work in Chicago last summer.
New York City is investing $127 million over three years in Black and Latino men and boys to improve the city. The Black Star Project is calling for a similar Chicago Plan for Black Men and Boys that would invest $100 million to improve societal outcomes for Black men and boys in Chicago.
Massive unemployment among Black men and youth drives violence and murders, contributes to broken family structures, indirectly discourages educational achievement, and causes chaos and disfunctionality in Chicago communities. The Chicago Plan for Black Men and Boys would include mentoring, educational support, job training, job connection, entrepreneurship, fathering support, strengthening families, spiritual development and community building.
Chicago has become a tale of two cities: One city wealthy with good schools and safe communities for Asian and White citizens and the other city poor with horrible schools and dangerous neighborhoods for Black citizens. The Chicago Plan for Black Men and Boys will help to make Chicago a high-quality city for all citizens.
Facts about the Devastating Plight of Black Males in America
In Chicago, only three out of 100 Black boys earn a college degree by age 25.
In 2008, only 44% of Black males graduated from high school in Chicago (near the U.S. average for Black males); only 28% graduated in New York City and 27% in Detroit.
Just 22% of Black males who begin at a four-year college graduate within six years.
69% of Black children in America cannot read at grade level by the 4th grade, compared with 29% of White 4th-grade children.
The average 17-year-old Black student has the reading and math scores of the average 14-year-old White student.
7% of Black 8th-graders perform math at grade level.
67% of Black children are born out of wedlock.
In Chicago, 52 % of all Black men between the ages of 16 and 64 years old are jobless.
In Illinois, 47% of all non-institutionalized Black men do not have a job.
In New York City in 2003, only 51.8% of Black men ages 16 to 64 were employed compared to 75.7% of White men and 65.7% of Latino men in that age group.
At comparable educational levels, Black men earn 67% of what White men earn.
White males with a high-school diploma are just as likely to have a job and generally earn just as much as Black males with college degrees.
Blacks make up only 3.2% of lawyers, 3% of doctors and less than 1% of architects in America. Many of these are Black women.
53% of Black men aged 25 to 34 are either unemployed or earn too little to lift a family of four from poverty.
Nationally, 72% of Black high-school dropouts are unemployed.
Black America lost between $72 billion and $96 billion in the recent mortgage fiasco.
The median net worth of a Black family in America is $6,100 verses $67,000 for a White family.
Young Black men with a Black sounding or Africanized name, Like Trayvon, even with a college degree and the exact same academic credentials as a person perceived to be a White male, are 1/2 as likely to be called back for a job interview.
White men with prison records receive more offers for entry-level jobs in New York City than Black men with identical records (and White male ex-offenders are offered jobs just as often – if not more so – than Black men who have never been arrested).
More Black children died in Chicago from gunfire in 2010 than Chicago soldiers died in Iraq.
Murders of Black males between the ages of 14- and 17-years old rose by 40% between 2000 and 2007. During that same period, murders committed by Black males between the ages of 14- and 17-years old rose by 38%.
In 2001, the chances of going to prison were highest among Black males (32.2%) and Hispanic males (17.2%) and lowest among White males (5.9%).
Blacks comprise only 12% of the U.S. population, but 44% of all prisoners in the United States are Black.
Blacks, who comprise only 12% of the population and account for about 13% of drug users, constitute 35% of all arrests for drug possession, 55% of all convictions on those charges, and 74% of people sentenced to prison for possession.
In at least 15 states, Black men were sent to prison on drug charges at rates ranging from 20 to 57 times those of White men.
In 2003, 1,172 Black children and teenagers in the United States died from gunfire.
One in nine Black men between 20- to 34-years old is imprisoned and one in 15 Black men over 18-years old is imprisoned.
1.46 million Black men out of a total voting population of 10.4 million Black men have lost their right to vote because of felony convictions.
These statistics were compiled from various sources by The Black Star Project. You may request sources at email@example.com. To join the movement to save young Black men and to educate Black children, please call us at 773.285.9600, email us at firstname.lastname@example.org or visit our website at www.blackstarproject.org.
Click on http://www4.uwm.edu/ced/publications/blackcrisis307.pdf to read full report on Black Male Joblessness.
The Black Star Project
This is the news and events archive of The Black Star Project, for more information about the organization itself and its programs, please visit www.blackstarproject.org
The only job growth Baltimore has seen has been part-time and/or people moved to Baltimore from other cities or countries to take the few good jobs actually created. We are told that bringing college grads to the city to work as VISTAs and firing 300 management-level employees from BGE to be replaced by 300 management employees from other cities when Exelon took over is good policy as it brings new people to Baltimore-----well, I think we are seeing more of those people brought to Baltimore leaving because the citizens already here are so impoverished they cannot support themselves. Baltimore was ranked as a third world city because of this wealth inequity.
Already we are hearing that Teach for America placements are not working because a private college grad from New England just can't make it as a teacher in urban Baltimore schools-----SURPRISE----NO ONE SAW THAT COMING! Meantime----the teachers that were working as hard as they could to handle discipline and teach and were forced into retirement are slowly being brought back. That is how bad our public policy is in Baltimore and it is because Johns Hopkins has eliminated the public sector and now controls all public policy and THEY STINK AT PUBLIC POLICY.
This of course is the dynamic playing out across the nation in differing ways----but all centered on eliminating the public sector and replacing it with volunteers and people working for too little or part time.
Part-Time Employment Stats In America Reveal Interesting Trends
Posted By: Floating PathPosted date: April 23, 2014 10:05:43 AM
You may have seen a chart similar to this one floating around, which shows that the number of jobs in the U.S. is nearing its pre-recession peak.
Separating the employed by full-time and part-time status provides a different view to the assertion that we are anywhere near our pre-recession employment level though. When the economy slipped into recession, full-time employment cratered. Part-time employment increased simultaneously, as many workers simply had their hours reduced rather than see termination.
Since the November 2007 employment peak, part-time jobs have increased by 2.9 million, but full-time jobs have decreased by 3.9 million. (The part-time designation is given to workers who say they usually work less than 35 hours per week.)
Not all jobs are equal, and on top of the higher likelihood that a full-time job would be accompanied by health benefits and retirement contributions, full-time workers being cut to part-time means less wages and lower household incomes.
The number of people employed in the U.S. peaked in November 2007 at 146.6 million (1). At the time, 24.8 million people, or 16.88% of all workers, were part-time workers.
In January 2010, that ratio reached a high of 20.04%. It has now fallen to 19.01%, but is still well above its level of the early-to-mid 2000?s (2).
The U.S. Bureau of Labor Statistics separates those working part-time into either part-time for economic reasons, meaning workers who would prefer to be full-time but are involuntarily part-time, or part-time for noneconomic reasons, which could include school or family or retirement or any other obligations that have led the worker to be voluntarily part-time.
By comparing these against each other, we can see that those part-time for economic reasons remains elevated as a share of those part-time for noneconomic reasons. This suggests that the spike in part-time employment is caused by poor economic conditions or a skills mismatch rather than shifting lifestyle decisions.
Until a much greater portion of those seeking full-time work are able to find it, U.S labor market health simply cannot be seen as the same caliber of a pre-recession economy.
Footnote 1: Figures from Table A-9 are used for counting the total employed and will vary slightly from total employed figure the BLS reports in Summary table A. This is due to the full-time employed and part-time employed components being seasonally adjusted independently, while the BLS total employed number first sums all components on a not seasonally adjusted basis and then makes the seasonal adjustment.
Footnote 2: This chart only goes back to 2000 because (1) we are trying to compare part-time employment to a normalized level and (2) the BLS has changed its methodologies in its Current Population Survey (CPS) over time making it difficult to compare the share of part-time workers over longer periods.
Here is the article that shows how college grads are being either forced into the kinds of jobs I stated above or are simply not finding jobs. We know that the recent Obama Executive Order allowing foreign workers to take high-skilled jobs will make this unemployment number worse.
We are told now that liberal arts and humanities degrees are useless because corporations will no longer hire someone with any degree and train them. They must be job ready! Well, this is of course a Wall Street ploy to control the kinds of education the American people can choose----NO CHOICE IN THE 21ST CENTURY ECONOMY SAY GLOBAL CORPORATE POLS! College grads were of course the major source of oversight and accountability jobs because they develop the skills of leadership and project management while seeking those degrees.
The biggest driver of American college graduates finding jobs for decades to come if global corporate pols have their way-----is that Trans Pacific Trade Pact will allow global corporations to bring their own workers from their own nations to the US to work as they do in that nation. So, an American college grad seeking employment in a high-skilled job will not find a job opening----if you think it is bad now wait until TPP is officially installed-----
OR BETTER YET DO NOT ALLOW THEM TO INSTALL TPP AS IT IS ILLEGAL AND A COUP AGAINST THE AMERICAN PEOPLE AND OUR CONSTITUTIONAL RIGHTS AS CITIZENS
This is why Clinton neo-liberals and Bush neo-cons are telling Americans there is no value in university degrees and it is why states like Maryland are already building the platform for 90% of Maryland high school grads to go to a vocational track......global corporate pols do not see American citizens having higher education degrees. That is how you take a first world nation to third world. Remember the mantra during the Clinton/Bush years that everyone needed a college degree and that is what pushed parents to send their children to college at all cost. Well, Clinton and Bush were building this global market structure they knew would kill employment in the US and for college grads even as they hawked getting a college degree. Clinton did the same thing to the poor with his Welfare to Work program at the same time he was creating global markets he knew would move US corporations overseas and take all jobs with them. Welfare to Work at the time of greatest economic unemployment says Clinton----same with Americans and college degrees. Clinton neo-liberals know these global market policies are killing the Democratic base and they like it!
This mantra of vocational skills replacing college degrees is directly tied to this transition of high-skill jobs to the graduates of Ivy League schools and foreign workers.....which is the dynamic all third world nations have.
53% of Recent College Grads Are Jobless or Underemployed—How?
Jordan Weissmann Apr 23 2012, 3:06 PM ET
More than half of America's recent college graduates are either unemployed or working in a job that doesn't require a bachelor's degree, the Associated Press reported this weekend. The story would seem to be more evidence that, regardless of your education, the wake of the Great Recession has been a terrible time to be young and hunting for work.
But are we really becoming another Greece or Spain, a wasteland of opportunity for anybody under the age of 25? Not quite. What the new statistics really tell us about is the changing nature, and value, of higher education.
First, here's the nut of the AP's findings, which it derived with the help of researchers from Northeastern University, Drexel University, and the Economic Policy Institute, based on data from the Census Bureau's Current Population Survey and the U.S. Department of Labor:
About 1.5 million, or 53.6 percent, of bachelor's degree-holders under the age of 25 last year were jobless or underemployed, the highest share in at least 11 years. In 2000, the share was at a low of 41 percent, before the dot-com bust erased job gains for college graduates in the telecommunications and IT fields.
Out of the 1.5 million who languished in the job market, about half were underemployed, an increase from the previous year.
These numbers are hard to fathom, and the more you compare them to other measures of unemployment, the more bizarre they seem. Unfortunately, I don't have all of the data the AP was working with. But their analysis implies that about a quarter of the post-collegiate population is outright unemployed. By comparison, in December 2011, only a fifth of 16 to 19-year-old Americans couldn't get work. Meanwhile, according to the OECD, just 18.4 percent of all Americans under the age of 25 were unemployed in 2010. By those measures, college grads are actually faring worse in the job market than the overall youth population. They're also suffering terribly compared to the older college-educated populace, which has an unemployment rate of 4.2 percent.
It's hard to imagine why any of this might be, other than that some recent grads may simply not be willing to take the low level jobs available to them.
On the other hand, many obviously are. As the AP notes, recent graduates are now more likely to work as "waiters, waitresses, bartenders and food-service helpers than as engineers, physicists, chemists and mathematicians combined." This is a problem for any number of reasons, but here are two big ones: First, a degree is more expensive than ever, and students are piling on debt to finance their educations. It's much harder to pay back loans while working for tips at Buffalo Wild Wings than when you have a decent office job. Second, when college graduates take a low-paid, low-skill job, they're probably displacing a less educated worker, For every underemployed college degree holder, there's a decent chance someone with just a high school diploma is out of work entirely.
So is a college education simply less valuable than in the past? In some respects, yes. According to the Census, the number of Americans under the age of 25 with at least a bachelor's degree has grown 38 percent since 2000. Not nearly enough jobs have been created to accommodate them, which has resulted in falling wages for young college graduates in the past decade, as well as the employment problems we're now seeing.
That said, not all degrees are created equal. The AP reports that students who graduated out of the sciences or other technical fields, such as accounting, were much less likely to be jobless or underemployed than humanities and arts graduates. You know that old saw about how college is just about getting a fancy piece of paper? Not true. For an education to be worth anything these days, it needs to impart skills.
When there were fewer graduates, a generic college degree used to be a valuable credential. Now that the market is flooded, diplomas count less, and specific skills count more. This means that, in many instances, associates and technical degrees may be more financially valuable than a liberal arts degree. After all, some of the fastest growing job categories are expected to be in so-called "middle-skill" positions such as nursing, which do not require a full, four-year education. It's one more sign that, for people seeking to fix America's employment picture, "college for all" is the wrong mantra. We need to be talking about "skills for all" instead.
Only 27 percent of college grads have a job related to their major
By Brad Plumer May 20, 2013
Here's some interesting new data from Jaison Abel and Richard Dietz of the Federal Reserve Bank of New York. The vast majority of U.S. college grads, they find, work in jobs that aren't strictly related to their degrees:
There are two different things going on in this chart. First, a significant number of college grads appear to be underemployed: In 2010, only 62 percent of U.S. college graduates had a job that required a college degree.
Second, the authors estimated that just 27 percent of college grads had a job that was closely related to their major. It's not clear that this is a big labor-market problem, though — it could just mean that many jobs don't really require a specific field of study. (You can find Abel and Dietz's longer paper here, and note that they are excluding people with graduate degrees in this second chart — so no doctors, lawyers, college professors, etc.)
There's an important twist here, too. The chances of finding a job related to your degree or major go up a few points if you move to a big city:
The authors' argument is that "big cities have more job openings and offer a wider variety of job opportunities that can potentially fit the skills of different workers." The odds of finding a match between college degree and job are about 6 percentage points higher in a place like New York City than in, say, Syracuse.
Of course, a key caveat here is that landing a job unrelated to your major isn't necessarily the end of the world. Indeed, it's the most common outcome by far. (My specific math degree doesn't really come in handy for journalism all that often, but college itself was still useful.)
The research does, however, hint at one possible advantage of large cities — and might help explain why workers in denser cities tend to be more productive. If there's a policy upshot here, it's that the broader economy could stand to benefit if large cities loosened up some of their restrictions on housing and made it easier for more people to live there — a point that writers like Matt Yglesias and Edward Glaeser have made over and over again.
We all know the 2008 crash killed the job market for Hispanics. Some thinking Hispanics shouldn't work in the US may be glad but what has happened for many Hispanic families is a great disruption to family life and stability.......wait a minute----isn't that what happened to black families after Reagan/Clinton sent US corporations overseas? Indeed. Hispanic families are now facing the same social challenges that black families do as regards employment. Now, in states like Maryland where Hispanics are getting the bulk of employment there are strings attached to what seems like stability. Maryland is also ground zero for Trans Pacific Trade Pact and global corporate pols in Maryland are flooding the job market in Maryland with immigrants from all over the world----if this continues the rise in Hispanic employment in Maryland will be replaced by worldwide immigration. So, Brown will become Black as regards employment.
ALL DOMESTIC WORKERS WILL BE DEVASTATED BY A FLOOD OF IMMIGRANTS FROM AROUND THE WORLD. WE LOVE AND PROTECT IMMIGRANTS----BUT GLOBAL CORPORATE POLS ARE USING PEOPLE AS HUMAN CAPITAL---TO EXPLOIT ---AND THAT IS NOT GOOD.
What Clinton Wall Street neo-liberals and Bush Wall Street neo-cons are doing with this TPP policy is exactly what was done in Europe/UK with the breaking of borders. People from Eastern Europe flooded the Western Europe job market willing to work for less and unemployment soared because of this. Today there are all kinds of nationalist and racist groups groups and social unrest do to this imbalance in employment and those allowed to immigrate are worse for the wear and this happening after they were simply exploited for a few decades as cheap labor. So, these policies are meant to be destablizing and meant to cause tensions between working groups and that is what is happening in the US today.
The Crisis in Black and Brown Youth Unemployment
by Imara Jones
Wednesday, January 15 2014, 7:00 AM EST Tags: Black, Latino, School to Prison Pipeline, Youth Unemployment
As the White House prepares to launch a major economic opportunity effort, record high unemployment among black and Latino youth underscores how essential it is to create job opportunities for young people of color.
The critical issue here is that the ages of 16 to 24 are make or break years for lifelong earning potential. With one out four blacks and one out of six Latinos under the age of 25 without work, a generation of youth of color risks falling behind.
The situation for black and Latino unemployed youths is so alarming that leading think tanks and economists are raising red flags about it at a staggering pace. One report on the topic by Demos, the public policy organization, argues that the “exclusion of young people of color” from job opportunities “weakens the promise of America.”*
With wealth in African-American and Latino communities already the lowest on record, a loss of income on a generational scale would likely harden existing inequities and set back economic progress in the country for decades. That’s because there are simply so many young blacks and Latinos who want work but can’t find it.
The Older Worker Squeeze
The jumpoff for understanding what’s going on is that the youth jobs market as a whole, like the broader labor market, is in shambles.
With one out six young people without work, youth unemployment is higher than at any point since most people under the age of 25 have been alive. Close to half of the four million young people without work are African-American or Latino. They are joined by another six million young people of all racial backgrounds who have given up looking for work out of frustration.
The core economic issue here is that younger Americans are being squeezed out of the labor market because their aren’t enough jobs to go around for both existing workers and those just entering the job market.
As The Wall Street Journal points out, the economy is down eight million jobs from where it needs to be in order to make sure that everyone who wants a job has one. With so many jobs destroyed by the Great Recession, and with only mostly lower-wage jobs being created, older, better educated workers are being pushed into areas of employment traditionally occupied by younger workers.
Analysis by the Center for Economic and Policy Research shows that the proportion of 16- to 19-year-olds in low-wage work fell by 50 percent from 1979 to 2011 while workers aged 35 to 64 increased their share of these jobs [PDF]. Moreover, the proportion of those in low-wage positions who attended college almost doubled.
As Sarah Ayres of the Center for American Progress points out, “With three job seekers for every available job, employers can hire people at an education level above what’s required for the actual position.” This trend benefits older workers.
The School-to-Prison Pipeline
But there are two additional challenges that magnify black and Latino youth joblessness.
The first is that lower college graduation rates for youth of color puts African-Americans and Latinos at a severe disadvantage. As more workers with higher education compete for jobs that were once dominated by high school graduates, the hill for people of color becomes steeper. That’s because a third less blacks and half as an many Latinos have college degrees as whites. But there’s more at work here.
Disproportionate school discipline directed at blacks and Latinos is a driving force behind lower education attainment rates for these two groups, further damaging lifelong earning potential.
Though students from these communities make up less than four out of 10 of kids in school, they make up seven out of 10 of children “involved in school-related arrests or referrals to law enforcement.” As the Advancement Project points out, students who’ve been suspended are up to five times more likely to not finish high school [PDF]. Given the condition of the labor market, the lack of a high school diploma is simply a non-starter.
The second is the way that higher incarceration rates damage the job prospects of youth of color. With six out 10 individuals in prison black or Latino, over 300,000 people of color are released from incarceration each year [PDF]. As Colorlines editorial director Kai Wright pointed out in a recent article, almost all employers perform a background check on job applicants, even those for low-wage positions. Astoundingly, 90 percent of all African-Americans with criminal records are passed over for employment. That’s a rate a three times higher than whites with a similar history. Skewed incarceration is
another headwind that youth of color face in the job market.
The reason that any of this matters is that youth unemployment means lower incomes and fewer life opportunities for those without work. Since employment between the ages of 16 to 24 is vital to setting the pace for an individuals’ future earning power, joblessness experienced by young people has severe consequences. Just six months of unemployment can mean $45,000 in lower wages. It can take up to a decade to make up lost ground. The longer unemployment lasts, the larger the longterm earnings hole grows. Young people 20 to 24 will lose $20 billion over the next decade in lost wages. Writ large this translates into an amount that will be difficult for black and Latino communities, still reeling from the recession, to absorb.