{"id":175763,"date":"2020-12-04T23:39:00","date_gmt":"2020-12-05T04:39:00","guid":{"rendered":"https:\/\/www.panix.com\/~msaroff\/40years\/2020\/12\/04\/not-good-2\/"},"modified":"2020-12-04T23:39:00","modified_gmt":"2020-12-05T04:39:00","slug":"not-good-2","status":"publish","type":"post","link":"https:\/\/www.panix.com\/~msaroff\/40years\/2020\/12\/04\/not-good-2\/","title":{"rendered":"Not Good"},"content":{"rendered":"<\/p>\n<div style=\"border-color: black; border-image: none; border-style: solid; border-width: 1px; border: 1px solid black; float: right; margin: 0px 10px; padding: 5px; text-align: center; width: 330px;\"><iframe loading=\"lazy\" frameborder=\"0\" height=\"300\" scrolling=\"no\" src=\"https:\/\/d3fy651gv2fhd3.cloudfront.net\/embed\/?s=unitedstalabforparra&amp;v=202012042300V20200908&amp;d1=19201230&amp;type=type=line&amp;h=300&amp;w=320\" width=\"320\"><\/iframe><\/p>\n<p><i><a href=\"https:\/\/tradingeconomics.com\/united-states\/labor-force-participation-rate\">Workforce Participation since 1948<\/a><\/i><\/div>\n<p>US Job growth <a href=\"https:\/\/www.wsj.com\/articles\/november-jobs-report-unemployment-rate-2020-11607028480\">was about \u00bd what was forecast last month<\/a>, 245,000 versus forecasts of around 440,000.<\/p>\n<p>The unemployment rate ticked down, but a lot of that is people who have stopped looking:<\/p>\n<p>U.S. job growth slowed sharply in November, suggesting the labor-market recovery is losing steam amid <a href=\"https:\/\/www.wsj.com\/livecoverage\/covid-2020-12-04?mod=article_inline\" target=\"_blank\" rel=\"noopener\">a surge in coronavirus cases<\/a> and new business restrictions. <\/p>\n<blockquote><p><span style=\"color: #2b00fe;\">Employers <a href=\"https:\/\/www.bls.gov\/news.release\/pdf\/empsit.pdf\">added 245,000 jobs last month<\/a>, down from 610,000 jobs in October, the Labor Department reported Friday. The unemployment rate edged down slightly to 6.7% in November from 6.9% a month earlier, but that was partly because fewer Americans were seeking work.<\/p>\n<p>\u2026\u2026\u2026<\/p>\n<p>Employers boosted jobs in transportation and warehousing last month, likely reflecting holiday hiring for e-commerce roles. Government payrolls declined by nearly 100,000, largely reflecting the roll-off of temporary workers hired for the 2020 census. Employment also fell in the retail category that includes bricks-and-mortar stores.  <\/p>\n<p>\u2026\u2026\u2026<\/p>\n<p>Economists say there are persistent risks of labor-market scarring. Many individuals, facing <a href=\"https:\/\/www.wsj.com\/articles\/can-you-ask-your-boss-for-child-care-flexibility-without-hurting-your-career-11602637200?mod=article_inline\">increased child-care responsibilities<\/a> or limited job opportunities, have <a href=\"https:\/\/www.wsj.com\/articles\/covid-shrinks-the-labor-market-pushing-out-women-and-baby-boomers-11607022074?mod=article_inline\">stopped looking for work altogether<\/a> during the pandemic. The labor-force participation rate, or the share of Americans working or looking for work, was 61.5% in November. That is up from April\u2019s trough, but remains near the lowest level since the 1970s. <\/p>\n<p>The number of individuals out of the labor force who want a job increased in November to 7.1 million, Friday\u2019s Labor Department report said.  <\/span><\/p><\/blockquote>\n<p>The best metric we have for all of this is workforce participation, and it remains down.<\/p>\n<p>In fact, it reached its peak 20 years ago, though the aging of the workforce has something to do with this.<\/p>\n<p>From the perspective of the average job seeker, we have been in a recession for 20 years, which might explain and Trump Evil Minions\u2122.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Workforce Participation since 1948 US Job growth was about \u00bd what was forecast last month, 245,000 versus forecasts of around 440,000. The unemployment rate ticked down, but a lot of that is people who have stopped looking: U.S. job growth slowed sharply in November, suggesting the labor-market recovery is losing steam amid a surge in &hellip;<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[],"tags":[450,458,494],"class_list":["post-175763","post","type-post","status-publish","format-standard","hentry","tag-employment","tag-recession","tag-statistics"],"_links":{"self":[{"href":"https:\/\/www.panix.com\/~msaroff\/40years\/wp-json\/wp\/v2\/posts\/175763"}],"collection":[{"href":"https:\/\/www.panix.com\/~msaroff\/40years\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.panix.com\/~msaroff\/40years\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.panix.com\/~msaroff\/40years\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.panix.com\/~msaroff\/40years\/wp-json\/wp\/v2\/comments?post=175763"}],"version-history":[{"count":0,"href":"https:\/\/www.panix.com\/~msaroff\/40years\/wp-json\/wp\/v2\/posts\/175763\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.panix.com\/~msaroff\/40years\/wp-json\/wp\/v2\/media?parent=175763"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.panix.com\/~msaroff\/40years\/wp-json\/wp\/v2\/categories?post=175763"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.panix.com\/~msaroff\/40years\/wp-json\/wp\/v2\/tags?post=175763"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}