Another myth debunked

[extragreen]

Last month, there were 3.6 million more Americans who had left the labor force and said they didn't want a job compared with November 2019, says Aaron Sojourner, a labor economist and professor at the University of Minnesota's Carlson School of Management.
Older Americans, age 55 and up, accounted for whopping 90% of that increase.

How millions of jobless Americans can afford to ditch work

One of the more insidious myths this year was that young people didn't want to work because they were getting by just fine on government aid. People had too much money, went the narrative.

www.cnn.com

 

[i am herdman]

Ughggh, we have been saying labor force participation rate.

 

[extragreen]

Ughggh, we have been saying labor force participation rate.

And when people of working age retire, the labor force participation decreases.

 

[MichiganHerd]

Myth = wealthy white guys, 55 & older, that choose to be lazy and not work anymore.

greed is one of those.

 

[raleighherdfan]

Can someone decipher what greed is claiming?

If you are a boomer retiring, that's not going to affect the participation rate.

"Americans are quitting their jobs in record numbers — more than 4 million each month since July — but much of that quitting is happening among young people who are leaving for other jobs or better pay. They're not leaving the workforce entirely."

 

[Rock98Dog]

Last month, there were 3.6 million more Americans who had left the labor force and said they didn't want a job compared with November 2019, says Aaron Sojourner, a labor economist and professor at the University of Minnesota's Carlson School of Management.
Older Americans, age 55 and up, accounted for whopping 90% of that increase.

How millions of jobless Americans can afford to ditch work

One of the more insidious myths this year was that young people didn't want to work because they were getting by just fine on government aid. People had too much money, went the narrative.

www.cnn.com

When did 55 become a standard retirement age? A 55 year old is still in their earning prime, why walk away from the game that point?

 

[i am herdman]

And when people of working age retire, the labor force participation decreases.

Yehh record numbers of people quitting and under employed

Hello

 

[Kate Branson]

When did 55 become a standard retirement age? A 55 year old is still in their earning prime, why walk away from the game that point?

All the ones I've seen do it regret it and always walk back in or wish they could.

 

[extragreen]

If you are a boomer retiring, that's not going to affect the participation rate.

Really?

The labor force level is the number of people who are either working or actively looking for work.

Are retirees either working or looking for work? No.

The labor force participation rate is calculated as: (Labor Force ÷ Civilian Noninstitutional Population) x 100.

Are people that retire a part of the Civilian Noninstitutional Population? Yes.

So, when the labor force loses 1000 due to retirees, the labor force (numerator) decreases but the retiree is still part of the civilian noninstitutional population (demonimator).

So, if the labor force loses 1000 due to retirement the numerator loses 1000 from its total but the denominator stays the same, and that lowers the labor force participation rate.

 

[extragreen]

When did 55 become a standard retirement age? A 55 year old is still in their earning prime, why walk away from the game that point?

Ask the people who retired.

 

[HerdandHokies]

When did 55 become a standard retirement age? A 55 year old is still in their earning prime, why walk away from the game that point?

Why keep working if you’ve got enough money to last the rest of your life? I get doing something you enjoy, like volunteering for whatever cause moves you. And if you really enjoy your job then sure. But if I hit the lotto then that’d be the last day I cashed a paycheck.

 

[i am herdman]

Why keep working if you’ve got enough money to last the rest of your life? I get doing something you enjoy, like volunteering for whatever cause moves you. And if you really enjoy your job then sure. But if I hit the lotto then that’d be the last day I cashed a paycheck.

I wonder how many of these folks really have the money. Plus insurance? Reality may set in for a few of them.

 

[Kate Branson]

That's what I've seen. They retire, but then the medical shit hits them hard. They have to come back just for the health insurance.

I see what they mean. Having to have backs, teeth, legs, feet, groins, etc. fixed all the time is a hell of a lot of dough.

 

[Chevy1]

One reason many are quitting jobs is due to the fact they know they can get another job. Everyone is well aware of how many unfulfilled jobs there are....along with low unemployment. It's likely most have something lined-up before leaving.

 

[raleighherdfan]

amazing seeing 10s of millions of Americans dropping out of the workforce and retiring despite a *cough* “wealth gap” *cough*

 

[Rock98Dog]

Why keep working if you’ve got enough money to last the rest of your life? I get doing something you enjoy, like volunteering for whatever cause moves you. And if you really enjoy your job then sure. But if I hit the lotto then that’d be the last day I cashed a paycheck.

That’s because you’re a lazy leftist, like Extra. If I won the lottery I would work even harder as I would have the capital to do some large projects that I have dreamed about doing.

 

[Kate Branson]

You ever see that movie The Lottery? It wasn't very good, but in the town of New Hope, Maine they draw out lots every year on June 27. Whoever draws out the one with an X on it gets rocks thrown at them by the rest of the town. Of course this kills whoever it is.

They cover the bloodied dead and say "she honored her community." In the movie, it was some woman who drew the X.

I watch it every year on June 27. The first rock is thrown by some kid and hits her right in the face. Crazy shit.

 

[extragreen]

That’s because you’re a lazy leftist, like Extra. If I won the lottery I would work even harder as I would have the capital to do some large projects that I have dreamed about doing.

Is that kind of like the time you told us you'd work 3 jobs at the same time back during the Great Recession? Idiot.

 

[extragreen]

amazing seeing 10s of millions of Americans dropping out of the workforce and retiring despite a *cough* “wealth gap” *cough*

You really are an idiot.

 

[i am herdman]

Is that kind of like the time you told us you'd work 3 jobs at the same time back during the Great Recession? Idiot.

I've done that and went to college. Sometimes you have to do what you have to do. Wasn't ideal but well, it is what it is.

 

[extragreen]

I've done that and went to college. Sometimes you have to do what you have to do. Wasn't ideal but well, it is what it is.

First, you're a liar. Second, we were talking about during the Great Recession when the UE rate was ranged from 7.8-10%. moron. Third, we were talking about making a living, not alcohol money.

 

[KyMUfan]

Really?

The labor force level is the number of people who are either working or actively looking for work.

Are retirees either working or looking for work? No.

The labor force participation rate is calculated as: (Labor Force ÷ Civilian Noninstitutional Population) x 100.

Are people that retire a part of the Civilian Noninstitutional Population? Yes.

So, when the labor force loses 1000 due to retirees, the labor force (numerator) decreases but the retiree is still part of the civilian noninstitutional population (demonimator).

So, if the labor force loses 1000 due to retirement the numerator loses 1000 from its total but the denominator stays the same, and that lowers the labor force participation rate.

Typical lie-beral intentional misrepresentation and distortion of information.

So, you include the people that age out of the work force to make your argument yet conveniently "forget" to include those coming of age to join the work force, not to mention the thousands of non-vaccinated or tested illegal aliens the Democrats are letting cross the border to take jobs from US citizens...

And you wonder why you have no credibility with anyone with an ounce of intelligence.

Go ahead, call me an idiot because that's all you've got...

 

[i am herdman]

First, you're a liar. Second, we were talking about during the Great Recession when the UE rate was ranged from 7.8-10%. moron. Third, we were talking about making a living, not alcohol money.

I was married at the time moron and still am And not on campus living and partying, grumpy. Sometimes you do what you have to do

 

[extragreen]

Typical lie-beral intentional misrepresentation and distortion of information.

So, you include the people that age out of the work force to make your argument yet conveniently "forget" to include those coming of age to join the work force, not to mention the thousands of non-vaccinated or tested illegal aliens the Democrats are letting cross the border to take jobs from US citizens...

And you wonder why you have no credibility with anyone with an ounce of intelligence.

Go ahead, call me an idiot because that's all you've got...

I'll call you an idiot later in this post. There is no misrepresentation or distortion in the information. "people that age out of the work force" have always been counted as not in the work force, and "those coming of age" are figured into the equation as they're part of the labor force by definition. Idiot.

 

[KyMUfan]

I'll call you an idiot later in this post. There is no misrepresentation or distortion in the information. "people that age out of the work force" have always been counted as not in the work force, and "those coming of age" are figured into the equation as they're part of the labor force by definition. Idiot.

Really?

In your own words....

The labor force level is the number of people who are either working or actively looking for work.

Are retirees either working or looking for work? No.

The labor force participation rate is calculated as: (Labor Force ÷ Civilian Noninstitutional Population) x 100.

Are people that retire a part of the Civilian Noninstitutional Population? Yes.

So, when the labor force loses 1000 due to retirees, the labor force (numerator) decreases but the retiree is still part of the civilian noninstitutional population (demonimator).

So, if the labor force loses 1000 due to retirement the numerator loses 1000 from its total but the denominator stays the same, and that lowers the labor force participation rate.

Sounds like the only idiot you are arguing with is yourself, idiot...

 

[KyMUfan]

I'll call you an idiot later in this post. There is no misrepresentation or distortion in the information. "people that age out of the work force" have always been counted as not in the work force, and "those coming of age" are figured into the equation as they're part of the labor force by definition. Idiot.

I think the labor participation rate must always be 50%. You're either in the active workforce or you're not so it's always 50/50. Don't you agree???

 

[extragreen]

In your own words....

Yes, in my own words, I've proven you, oath breaker, and phlegmwad wrong. You stupid punk.

 

[extragreen]

You're either in the active workforce or you're not so it's always 50/50.

Yes, punk, that's the only 2 possibilities.

 

[alphasig1053]

The title had me thinking this thread was going to be about the cult of scientology.

 

[extragreen]

The title had me thinking this thread was going to be about the cult of scientology.

Your wife ever stop dating other men??

 

[alphasig1053]

Your wife ever stop dating other men??

Your mouth ever stop dating other men?

 

[Kate Branson]

Scientology ended up being too long and too expensive, but I did get a great idea from it.

The idea of electric current to help solve problems. Maybe electroshock therapy next year, but this year electric burning of this damn nerve in my back.

If none of that works out, there's always electric current from a toaster in the shower.

 

[extragreen]

Your mouth ever stop dating other men?

Your wife ever stop dating other men??

 

[extragreen]

but I did get a great idea

Nope, you're still waiting on that to happen.

 

[Kate Branson]

The only ideas I have left are Chapman's Mortuary and I would like to have nuns at St. Mary's Hospital to tell me I'm going to hell when I get cancer.

They would be nice about it and would keep on trying to get me to see God and go to heaven. Maybe they will get me to see him. Probably not though, but at least they'll try.

At least that's my idea. I'll probably just fall over dead somewhere and not get this chance to prepare, but my idea is to prepare for it.