Thursday, March 9, 2017

WORKFORCE NOT COUNTED

On March 1st of this year, John W. Schoen in an article for CNBC writes (Quotes in italics):*

When President Donald Trump promises to "get Americans back to work," he often points to the roughly 94 million people who are out of the labor force.

But while the number is accurate, it's hardly an indication of massive unemployment. Many of the people who are outside the workforce either don't want a job or can't work.
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Of those who are able to work and want a job, only about 7.6 million can't find work, as of the latest data.
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Some 20 million people are estimated to be attending college in the U.S. While many of them are working to put themselves through school, millions of them are not actively looking for work until they graduate and are not counted in the Labor Department's count of the workforce.

Another large group of those in the "not in the labor force" category are unable to work. About 56.7 million people — roughly one in five Americans — had a disability in 2010, according to the Census. More than half of them report that their disability is severe. Among those aged 21 to 64, about 40 percent were employed.


The biggest increase in people leaving the workforce stems from the 55 and older demographic, as the demographic bulge of baby boomers reaches retirement age.

* http://www.cnbc.com/2017/03/01/trumps-94-million-missing-workers-claim-is-misleading.html

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