January 18, 2013

America's disappearing workforce

Laissez Faire - One of the most bizarre happenings in our current economic environment has been the surprising collapse of the number of people in the labor pool. This reality adds a sting to the unemployment numbers. They are falling bit by bit, but so is the total pool of people who are even part of the count. Once people drop out, they disappear economically.

The trend for men in particular goes back half a century, but for all groups, the dropout rate accelerated dramatically after 2008:

6 comments:

Strelnikov said...

You realize that the link, not the chart, comes from one of those nutball libertarian websites, right?

Anonymous said...

Cybernation and consolidation seem yet to be fully comprehended by most when evaluating the dynamics of the modern workplace. Simply put, it no longer really takes that many people to perform essential tasks.

Strelnikov said...

"Simply put, it no longer really takes that many people to perform essential tasks."

Then what do we do with those people? Throwing them out into the street hasn't worked. Nor has prison. We need to have alternatives for the "surplus population" that are more humane than the Dickensian crud we've been serving up.

Anonymous said...

The answer, Strelnikov, is socialism. The government then provides work (not handouts) to everybody able to work, and handouts to the infirm.

Greg Gerritt said...

Much of the future of employment is organic farming.

Capt. America said...

In the short term, a 30 hour work week. In the long term, the benefits of technology must be shared.