(CNSNews.com) -
The labor force participation rate in 2013 for Americans in their twenties hit
the lowest level recorded since 1981, when the Bureau of Labor Statistics
started releasing employment data on people in the full age bracket of 20
through 29.
The labor force
participation rate for people ages 20 through 24—which BLS has been tracking
since 1948—hit a 42-year low in 2013.
Since 2008, the
last year before President Barack Obama took office, the number of Americans in
their twenties who were not in the labor force during the average month has
climbed from 8,756,000 to 10,511,000—an increase of 1,755,000 or 20 percent.
The 10,511,000
Americans age 20 through 29 who were not in the labor force in 2013 is the
highest ever recorded by BLS.
The labor force
participation rate is the percentage of people in the civilian non-institutional
population who either have a job or actively sought one in the past four weeks.
The full civilian non-institutional population includes all people resident in
the United States age 16 or older who are not on active duty in the military or
in an institution such as a prison, nursing home or mental hospital. The labor
force participation rate for people in a certain age bracket is the percentage
of people who have a job or actively sought one in the last four weeks who are
part of the civilian non-institutional population for that age bracket.
The labor force
participation rate for 20-29 year olds in the average month of 2013 was 75.5
percent, according to data published by the BLS. That is down 3.3 percentage
points from 2008, when it was 78.8 percent. Labor force participation for
Americans in their twenties peaked in 1989 at 81.3 percent.
In 2013, the
labor force participation rate for 20 through 24 year olds was 70.7 percent,
the lowest it has been since 1971. In 2008, the last year before Obama took
office, the labor force participation rate for 20 through 24 year olds was 74.3
percent. It has dropped 3.6 percentage points in the last five years.
The overall
labor force participation rate--for the entire civilian non-institutional
population, including all age groups 16 and over--was 63.2 percent n 2013, a
35-year low. The last time participation in the labor force was that low was in
1978.
Source: http://cnsnews.com/news/article/ali-meyer/labor-force-participation-hits-record-low-americans-their-20s
Labor Force Participation Hits Record Low for Americans
in Their 20s March 11, 2014 - 11:09 AM By Ali Meyer
The business and economic reporting of CNSNews.com is funded in part with a gift made in memory of Dr. Keith C. Wold.
Comments
Until we stop immigration and reverse course, this trend will continue. It is not government’s job to provide jobs. It is government’s job to get out of the way.
This can be done by repealing regulations based on bad science and the notion
that government should meddle in the private sector and damage the private
economy. Our ability to support ourselves is adversely impacted by bad law, bad
treaties, bad policy and government meddling. We expect government to remove
themselves from activities that infringe on our liberty.
Excessive immigration has removed virtually all student employment and
replaced it with immigrant employment. High School and college students used to
work in grocery stores, pool lifeguard jobs, fast food, etc. These jobs are now largely filled by
immigrants. These jobs could have gone to Americans.
Bad treaties like NAFTA and GATT removed most manufacturing jobs from
the U.S. These jobs could have gone to
Americans.
The federal government has sabotaged coal, oil and gas production,
mining and harvesting and food production and shut off our water supply with
EPA regulations based on bad science and unconstitutional actions. Energy costs
will increase unless these regulations are reversed. Jobs will be lost. These jobs could have gone
to Americans.
Young Americans futures are in jeopardy. High levels of government spending
and borrowing should be reduced.
The U.S. government must decouple itself from the U.N. Agenda 21 implementation in America that is
causing mal-investment in infrastructure and corporate crony relationships riddled
with graft mandated, unnecessary consulting projects and overcharges.
Funds that should go to maintaining our sewer and water systems and our
roads and highways and bridges are mal-invested in expensive, inefficient green
energy, bike lanes, trails, parks, over-the-top Master Plans, Land Use Plans
and private public partner tax subsidies to overbuild unnecessary private
sector mixed use retail developments. No
tax subsidies should be used for these projects and abuses should be removed
from these plans.
Agenda 21 federal grant funds support Regionalism that undermines our
democracy and financially unsustainable commuter trains and schemes to steal
private property. Money is squandered that won’t be available for
necessities.
Worse, government is giving away their real responsibilities for
infrastructure to private companies who want to collect government mandated
taxes. It’s irresponsible.
Norb Leahy, Dunwoody GA Tea Party Leader
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