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From the article: "In December, only 62.8% of people in the U.S. older than 16 were in the labor force. That matched the lowest participation rate since 1978, a time when women were entering the labor force in greater numbers."
>>>The middle class continues to find the big squeeze out with a combination of globalization, technology and govt policy(s). Real wages are still likely in decline, regardless of any employment numbers. And if baby boomers weren't retiring (well, some supposedly are)..... At least one large company with which I am familiar is not replacing retiring senior folks. They have also "encouraged" employees with 20+ years of work for the firm to depart via enhanced "say good-bye" monetary offerings. Some of these same positions are created again and posted as new job/position openings. 'Course the salary is much reduced for these "new" jobs. For at least 3 years or more, the job skills and knowledge of the "old" workers will be a difficult void to fill. Heck, I too would place most of the blame of the weather since mid-November. Must be the case; as everything else is falling into place, eh? Gotta love the numbers games !!!
Reply to @catch22: Your comments match what I am hearing also. Companies are still laying off. Older workers are being offered buyouts. Pension plans are being revamped. Any new job is usually part time.
I am also hearing that job cuts in healthcare are accelerating. This was one of the brighter spots in the economy. Not anymore.
Comments
>>>The middle class continues to find the big squeeze out with a combination of globalization, technology and govt policy(s).
Real wages are still likely in decline, regardless of any employment numbers. And if baby boomers weren't retiring (well, some supposedly are).....
At least one large company with which I am familiar is not replacing retiring senior folks. They have also "encouraged" employees with 20+ years of work for the firm to depart via enhanced "say good-bye" monetary offerings. Some of these same positions are created again and posted as new job/position openings. 'Course the salary is much reduced for these "new" jobs. For at least 3 years or more, the job skills and knowledge of the "old" workers will be a difficult void to fill.
Heck, I too would place most of the blame of the weather since mid-November.
Gotta love the numbers games !!!
All's well.....
Catch
I am also hearing that job cuts in healthcare are accelerating. This was one of the brighter spots in the economy. Not anymore.