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Thread: Labor force increase is biggest since 2003 as many Americans finally get back to work

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    Labor force increase is biggest since 2003 as many Americans finally get back to work

    Labor force increase is biggest since 2003 as many Americans finally get back to work

    The labor force surged by 806,000, the biggest move since September 2003, and now sits just below 162 million.

    Those counted outside the labor force declined by 653,00, though they still number 95 million.

    The participation trend could be indicative that wages actually are coming up enough to encourage sidelined workers.

    Jeff Cox | @JeffCoxCNBCcom
    Published 3 Hours Ago
    CNBC.com

    The U.S. economy did more than give jobs to 313,000 in February ó it brought nearly three times that amount off the sidelines, where more than 95 million Americans still sit.

    Inside the glittering nonfarm payrolls report the Bureau of Labor Statistics released Friday were some even more inspiring numbers. Skilled labor positions surged with big increases in construction and manufacturing, which has seen its best three-month period since 1984.

    On a bigger-picture level, there was even more.

    The labor force surged by 806,000, the biggest move since September 2003, and now sits just below 162 million. That's due to 653,000 people no longer counted as being out of the labor force and a growth of 785,000 folks reporting to be at work, according to the government's household survey. The labor force participation rate rose to 63 percent while the employment-to-population ratio rose to 60.4 percent, both the highest since September.

    It was all part of a jobs market that continues to defy expectations. Every time economists or officials at the Federal Reserve pronounce the U.S. at "full employment," a report seems to come out indicating that there's still plenty of room for growth.

    "What companies have been trying to do over the six months is solving this Rubik's Cube, trying to figure out what we have to do to get those people off the bench to participate," said Bill Ravenscroft, senior vice president at Adecco Staffing. "If we continue this type of [payrolls] growth this is going to be the catalyst for a wage spike."

    A jump in earnings was not a part of the February jobs report.

    Coming a month after average hourly earnings leaped 2.9 percent higher, the 2.6 percent annualized increase came as a disappointment so some looking to see continued gains for worker paychecks. Fed officials for years have been waiting for more significant wage gains as they approve a gradual but slow pace of rate hikes.

    Closer to the ground, though, many workers have been left out of the economic recovery as paychecks have been about flat compared with inflation. While that may be hard to change as more get back in the game, the participation trend could be indicative that wages actually are coming up enough to encourage sidelined workers.

    "We're seeing employees moving around faster than before," Ravenscroft said. "Employers are going to see a lot of turnover in their workforce if they do not respond to those competitors in the marketplace that are raising their wages."
    CNBC
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    So much for the theory that at least half the reason for the decline was "demographics" - meaning baby boomers retiring.

    https://www.factcheck.org/2015/03/de...ipation-rates/
    "What truly matters is not which party controls our government, but whether our government is controlled by the people. January 20th 2017, will be remembered as the day the people became the rulers of this nation again. The forgotten men and women of our country will be forgotten no longer."

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    Time will tell.

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    Quote Originally Posted by scott View Post
    So much for the theory that at least half the reason for the decline was "demographics" - meaning baby boomers retiring.

    https://www.factcheck.org/2015/03/de...ipation-rates/
    Do you recall the spin Obama Democrats tried to put on people whose jobs were getting downsized to part time? (Thanks, Obamacare!)

    We were being freed of "Job Lock" by golly.


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    Quote Originally Posted by scott View Post
    So much for the theory that at least half the reason for the decline was "demographics" - meaning baby boomers retiring.

    https://www.factcheck.org/2015/03/de...ipation-rates/
    You think this disproves that?

    Labor force participation rate:


    Not in labor force:


    Civilian labor force level:
    Last edited by Norm dePlume; Friday, March 9th, 2018 at 7:08 PM.

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    Quote Originally Posted by Norm dePlume View Post
    You think this disproves that?

    Labor force participation rate:


    Not in labor force:


    Civilian labor force level:
    Yes. The labor force participation rate is increasing, despite the same "demographics."
    "What truly matters is not which party controls our government, but whether our government is controlled by the people. January 20th 2017, will be remembered as the day the people became the rulers of this nation again. The forgotten men and women of our country will be forgotten no longer."

    link

    Time will tell.

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    Quote Originally Posted by scott View Post
    Yes. The labor force participation rate is increasing, despite the same "demographics."
    Looks pretty flat over the year.

    And these children that you spit on
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    Quote Originally Posted by Norm dePlume View Post
    Looks pretty flat over the year.
    Yeah, a 300+ million population will tend to do that.

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    Quote Originally Posted by Norm dePlume View Post
    Looks pretty flat over the year.
    Despite the dramatic losses of retail jobs?

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    I've spent a large part of my life assisting people who can't do math.

    The hilarity never really gets old.
    "Alexa, slaughter the fatted calf."

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    Quote Originally Posted by Gingersnap View Post
    I've spent a large part of my life assisting people who can't do math.

    The hilarity never really gets old.
    I mean to say that the job market is changing. There have been many thousands of retail jobs lost, which numbers Democratic spinsters have regularly announced to knock otherwise positive indicators.

    But the number of manufacturing jobs has grown by about a quarter million since Obama left office.

    If the aggregate numbers are steady, per Norm's post, the market isn't stagnant, and in fact is changing much for the better.

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