Expiring jobless benefits to lower U.S. unemployment rate

[Gary and Alla 3,694]

http://finance.yahoo.com/news/expiring-jobless-benefits-lower-u-212013651.html

More "recovery" from Obama!

I know, the rump swabs and spittle lickers will say it is because the Republicans won't extend benefits. That still doesn't explain why we have so many millions of long term unemplyed to begin with!

Workforce participation will be at its lowest point since the stats have been collected.

[Trumplestiltskin 5,791]

Well firstly, if you drop the adversarial language it might actually be possible to have a rational discussion.

Secondly (and more importantly), what that article describes is actually no different that what is currently happening across Western Europe. It certainly isn't new.

Lowering unemployment figures makes the government look good - because people incorrectly assume that it's the result of job creation rather than people not being counted in the statistics because they're no longer receiving benefits.

Why are there so many long-term unemployed? Because it was a global (key word) recession - because countless governments were living beyond their means, borrowing against the future to artificially raise the standard of living.

As far as the US goes, it's got a lot to do with the carving up of US manufacturing and outsourcing it to China and Mexico. An undiversified economy that relies disproportionately on its service sector is a house of cards.

[Neonred 3,562]

Why are there so many long-term unemployed? Because it was a global (key word) recession - because countless governments were living beyond their means, borrowing against the future to artificially raise the standard of living.

So that's been taken care of?

[Trumplestiltskin 5,791]

I'm sure they'd like people to think that they have.

[Mr. Big Dog 10,747]

The decline of the labor force participation rate isn't something new. It's been going on for a decade and a half since it peaked in the late 1990's. The demographic changes - our aging population - has a lot to do with that. People 55 to 60 and 60 to 65 always had a lower labor force participation rate than younger age groups as you see people in these age brackets retiring early. As that slice of the labor force continues to grow, there is inevitably an impact on the overall labor force participation rate. But I suppose that the aging of the baby boomer generation is Obama's fault, too.