Now that’s what I call early retirement.

It seems that the U.S. Government has found that the number of retiring 20-24 year olds has doubled:

As everyone knows, one of the biggest question marks surrounding the US labor market is the 95 million of Americans not in the labor force, resulting in the lowest labor force participation rate since the mid-1970s.

The answer to this question is critical because it would explain why despite “5% unemployment”, wages in the US stubbornly refuse to rise 7 years after the recession “ended” even as a record number of Americans aged 55 and over have jobs (mostly of the low-paying variety).

***

So a few months ago, the Atlanta Fed tried to answer this question. Its answer: the labor force is plunging because people simply “don’t want a job.” No really:

The decrease in labor force participation among prime-age individuals has been driven mostly by the share who say they currently don’t want a job. As of December 2014, prime-age labor force participation was 2.4 percentage points below its prerecession average. Of that, 0.5 percentage point is accounted for by a higher share who indicate they currently want a job; 2 percentage points can be attributed to a higher share who say they currently don’t want a job.

That “explanation” did not fly with the goalseeking statisticians manning the Arima-X-12 seasonal adjustment vacuum tubes at the BLS, so, as Bloomberg reports, in a new Bureau of Labor Statistics report, these same career economists tired to provide fresh answers to this critical question.

And here we cross in the twilight zone, because while fabricating numbers is one thing, engaging in absolute lunacy as a form of scientific inquiry is a bridge we did not think even the BLS would dare cross. we were wrong.

Here’s Bloomberg’s summary of what the bureau found, broadly: Thirty-five percent of the U.S. population wasn’t in the labor force in 2014, up from 31.3 percent a decade earlier.

That “explanation” did not fly with the goalseeking statisticians manning the Arima-X-12 seasonal adjustment vacuum tubes at the BLS, so, as Bloomberg reports, in a new Bureau of Labor Statistics report, these same career economists tired to provide fresh answers to this critical question.

And here we cross in the twilight zone, because while fabricating numbers is one thing, engaging in absolute lunacy as a form of scientific inquiry is a bridge we did not think even the BLS would dare cross. we were wrong.

Here’s Bloomberg’s summary of what the bureau found, broadly: Thirty-five percent of the U.S. population wasn’t in the labor force in 2014, up from 31.3 percent a decade earlier.

20-24 retired.jpg

What is most troubling is that these are the same economists in charge of “creating” seasonally adjusted, statistically relevant and completely fabricated job number which drive the market month after month.

Lazy Millennials.

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Categories: Drugs are bad, Edumacation, Government Statistics, Great Recession, Hmm, Morons with PhDs

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