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billryan
billryan
Jan 18, 2017
11:36pm
Block User
Does anyone here know any able bodied person who is so mentally crushed by today's work environment that they,'ve simply given up and no longer work?
I'm not talking about someone who is unemployed, I mean someone who has just quit even trying to work?
Seriously? Perhaps I run in the wrong circles but I don't know a single person that fits into that group. Yet, some would look at my latest golf foursome and try to use us as a negative example. My partner just sold his business for $500,000 cash and $5,000 a month for the next ten years. If he ever works again, it's by choice.
One of our opponents just retired from All State after almost forty years at age 62. Someone will try to use him as a negative example. The last guy is a CPA and owns his own firm. At 60, he has three young children he needs to put through college. Retirement is pretty far off for him.
Which of us is in a worse place? The three who left the work force or the one who didn't?
rdwoodpecker
rdwoodpecker
Jan 18, 2017
11:59pm
Block User
Quote
Originally posted by: alanleroy
Quote
Originally posted by: billryan
Why is it inaccurate? Do you think people attending school should be counted? People like myself who intentionally left the work force? People who took early retirement? Shall I go on?
It's a flawed statistic. There should be a separate stat for 'Discouraged Workers who have given up their job search'. Some early retirees fit that category. Some people who have gone on disability insurance do too....but just reporting Labor Participation is meaningless because there are so many reasons for it.


Exactly Alan, after so many days 150 maybe? If you still do not have a job you are not counted towards the unemployment number and that is a sizeable number of former employees.
Smoke and mirrors, however Obama did not invent this choice of how unemployed is counted. He has done very little to create jobs since he has been in office.
alanleroy
alanleroy
Jan 19, 2017
12:00am
Block User
Quote
Originally posted by: billryan
Does anyone here know any able bodied person who is so mentally crushed by today's work environment that they,'ve simply given up and no longer work?


https://www.bna.com/longterm-discouraged-workers-n73014446899/

“It’s coal miners in places where the mines have closed or workers in small towns where a large manufacturing plant shut down,” he told Bloomberg BNA. “It’s also older IT workers who didn’t make the transition to newer technologies and are no longer in demand. And it’s also some normal churn of the labor market.”

In any event, I see the BLS IS actually reporting on discouraged workers (see linked article above). Although that number has grown significantly during the Obama presidency, it is dwarfed by those who are not in the labor force and don't want a job. Of course we'd have to drill into that number too....

IndyBoilerman
IndyBoilerman
Jan 19, 2017
12:24am
Block User
Billy apparently doesn't visit his black friends in the hood.


Quote
Originally posted by: billryan
Does anyone here know any able bodied person who is so mentally crushed by today's work environment that they,'ve simply given up and no longer work?
I'm not talking about someone who is unemployed, I mean someone who has just quit even trying to work?
Seriously? Perhaps I run in the wrong circles but I don't know a single person that fits into that group. Yet, some would look at my latest golf foursome and try to use us as a negative example. My partner just sold his business for $500,000 cash and $5,000 a month for the next ten years. If he ever works again, it's by choice.
One of our opponents just retired from All State after almost forty years at age 62. Someone will try to use him as a negative example. The last guy is a CPA and owns his own firm. At 60, he has three young children he needs to put through college. Retirement is pretty far off for him.
Which of us is in a worse place? The three who left the work force or the one who didn't?



ecomstoc
ecomstoc
Jan 19, 2017
12:44am
Block User
I love anecdotal evidence vs real statistics. But then again I usually buy stuff from TV commercials were someone offers a testimonial like "it really works!" vs doing any homework on the product.
IndyBoilerman
IndyBoilerman
Jan 19, 2017
12:53am
Block User
When measuring unemployment, one must first create a definition of unemployment. We could change that definition, and classify those who've not found employment for one week as no longer unemployed. The stats would then show 0.1% unemployment, yet reality hadn't suddenly changed.

The definition used to describe unemployment is stupid and misleading, especially in today's economy.


Quote
Originally posted by: ecomstoc
I love anecdotal evidence vs real statistics. But then again I usually buy stuff from TV commercials were someone offers a testimonial like "it really works!" vs doing any homework on the product.


billryan
billryan
Jan 19, 2017
3:11am
Block User
Quote
Originally posted by: alanleroy
Quote
Originally posted by: billryan
Does anyone here know any able bodied person who is so mentally crushed by today's work environment that they,'ve simply given up and no longer work?


https://www.bna.com/longterm-discouraged-workers-n73014446899/

“It’s coal miners in places where the mines have closed or workers in small towns where a large manufacturing plant shut down,” he told Bloomberg BNA. “It’s also older IT workers who didn’t make the transition to newer technologies and are no longer in demand. And it’s also some normal churn of the labor market.”

In any event, I see the BLS IS actually reporting on discouraged workers (see linked article above). Although that number has grown significantly during the Obama presidency, it is dwarfed by those who are not in the labor force and don't want a job. Of course we'd have to drill into that number too....



So, I will ask you the question. Do you personally know anyone who is so discouraged by the economy they gave up?
alanleroy
alanleroy
Jan 19, 2017
3:27am
Block User
Quote
Originally posted by: billryan
Quote
Originally posted by: alanleroy
Quote
Originally posted by: billryan
Does anyone here know any able bodied person who is so mentally crushed by today's work environment that they,'ve simply given up and no longer work?


https://www.bna.com/longterm-discouraged-workers-n73014446899/

“It’s coal miners in places where the mines have closed or workers in small towns where a large manufacturing plant shut down,” he told Bloomberg BNA. “It’s also older IT workers who didn’t make the transition to newer technologies and are no longer in demand. And it’s also some normal churn of the labor market.”

In any event, I see the BLS IS actually reporting on discouraged workers (see linked article above). Although that number has grown significantly during the Obama presidency, it is dwarfed by those who are not in the labor force and don't want a job. Of course we'd have to drill into that number too....



So, I will ask you the question. Do you personally know anyone who is so discouraged by the economy they gave up?
Nope. Like the article said it's a small percent compared to those who are not in the labor force and don't want a job. I don't know anyone on welfare and aren't looking for work either, but I don't doubt that they exist too. It just isn't as big of a deal as some make it out to be.

billryan
billryan
Jan 19, 2017
3:53am
Block User
Back in the mid 80s, one of my cousins opened a beeper store. In short order he had four or five. He transitioned into selling cell phones and made over $250,000 one year and had a dozen employees. Two years later, he was bankrupt. At 28, he went to Community College and became an Xray technician.
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