RE and economic charts: Labor Force Participation Rate: What will happen? + Participation rate Update + More on Labor Force Participation Rate

Saturday, March 5, 2011

Labor Force Participation Rate: What will happen? + Participation rate Update + More on Labor Force Participation Rate

[mEDITate-OR:
not see, read nor understand the story thread this weekend...
by/from Jim@CR, and also by many others, including the Wall Street Journal.
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While we have been commenting on this almost as much as Jim has...
tis nice to see even the main stream media take notice.
Bluntly, not matter HOW much they cut the Senior's benefits...!!!
IF the number of U.S. paying into their retirement systems has permanently fallen to new normal lows, there simply will BE a "Japanese Problem" that we, too, will bedeviled to solve.
As Jim insists, we NEED a lot more jobs = people that are gainfully employed
AND receiving much higher salaries.
If this does not happen, soon...
we may become another dust bowl.
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Sudeep Reddy and Sara Murray at the WSJ wrote: Jobless Rate Falls Further

A growing number of workers with health problems are applying for Social Security Disability Insurance benefits. The disability rolls, where many beneficiaries remain for life, have surged more than 14% since the recession began, to nearly 10.2 million in December 2010.

"We already know from the number of people who have entered the disability rolls that there's going to be a permanent hit to the labor force participation rate," said Lawrence Katz, a Harvard University economist. "That's both costly to them—they're going to be less happy—and costly to us to lose someone who could be a productive worker."