Article Review #7: Counting The Workers The BLS Doesn’t Count

The labor force participation rate in March 2015 was about 63% percent, which is similar to 1978 conditions. Although 126,000 jobs were created that month, this was about half of what was expected. A survey by the Bureau of Labor Statistics shows a slow but steady decline in economic growth as most evident with a consistently decreasing labor force participation rate. The healthy unemployment rate of about 8% is due to this trend in labor force participation. Because less people are participating, less people are counted by the Bureau as actively unemployed. If the labor force participation rate in 2015 was similar to what it was in 2011, unemployment rate would be 11.4%. This labor force trend is due to baby boomers retiring. The most apparent demographic shift is with adult men aged 25 to 54. Which is indeed shocking to see the number of jobs added drop at such a large rate within 7 years. As of December 2015, the economy is resting on the top of the business cycle; the country is due for another recession. Fake statistics will not change this, especially due to a lack of breadwinner jobs. Currently, jobs produce less money than they did years ago; supposedly, the income from approximately 2.5 jobs now is worth 1 job from the 1960s when adjusted for inflation and continuous technological advancement. Business sales as well as business shipments are decreasing at an alarming rate.