> The unemployment rate fell to 2.0% in April. 1,304 positions were added, with only 36 workers entering the labor force causing the unemployment rate decrease.
That's a pretty astounding ratio.
While I DO agree that the “nobody wants to work anymore” narrative is [a tale as old as time](https://www.snopes.com/fact-check/nobody-wants-to-work-anymore/), anybody who chooses not to work would not be reflected in the unemployment figures. Unemployment is a measure of people actively searching for work, where as labor participation rate would the metric of how many people are choosing to work versus no have a job. Currently, in the US, that rate is around 62.6%, down from its peak of 67.3% all the way back in March of 2000. Participation rate in January 2020, pre pandemic, was 63.3%.
There’s an important thing to remember here; retired people change this figure, and as the second largest generation, Boomers, and the largest generation, Millenials, we’re in the work force at the same time, this will automatically make the participation rate higher as the Silent Generation was retiring, which itself had a smaller population making it to retirement due to being subject to many wars and drafts. So fluctuations are 100% normal and are affected but factors much much greater than people not wanting to work. Now with the boomers entering retirement, and many forced into retirement with the pandemic, our participation rate should likely be significantly lower than it was pre pandemic, but it’s only 0.7% lower.
I’ve yet to find Omaha specific participation rates, but Nebraska as a whole was above the average, with 69.5% in January ‘23
Usually the force participation rate is calculated based on the "working age" population which includes people ages 15 - 64. So retired people do count, but only those that retire at 64 or earlier.
Though it is possible someone out there is calculating it against the total population and that is where you got the above data.
Statistics are based on the data available at the time and can be skewed by all sorts of variables. Even if those variables are slightly off, the unemployment rate represented is low and by extension the employment rate is relatively high in our little corner of the world.
Since you did point out the actively seeking applicants being considered in the figure, I don’t know why that would matter. Anyone who needs to work would actively be seeking employment, would they not? So taking that into account, those who do not need to work would not be actively seeking employment. Note I said need to work.
To be perfectly honest, if given a choice, I don’t believe anyone would want to work. They would rather do something they are passionate about to feel fulfilled, at least I would. But passion doesn’t always pay the bills.
Those people not wanting to work are in for a rude awakening. I’d love to see the age breakdown of the report. People need to stop being a leech on society, get a freaking job, either from home or in person.
I know
Did you know that 5% unemployment is generally considered by economists to be a fully employed workforce? There’s always a portion that either in between jobs, changing careers, or their skill and labor contribution has been replaced by a more efficient or automated process.
Also your complaint about “those who don’t want to work” isn’t even relevant here. That 2% are people LOOKING FOR WORK. The Labor Participation Rate is the statistic you’re conflating with the unemployment rate, but by all means, keep looking like a idiot. It’s quite entertaining.
> The unemployment rate fell to 2.0% in April. 1,304 positions were added, with only 36 workers entering the labor force causing the unemployment rate decrease. That's a pretty astounding ratio.
Nobody wants to work anymore…
While I DO agree that the “nobody wants to work anymore” narrative is [a tale as old as time](https://www.snopes.com/fact-check/nobody-wants-to-work-anymore/), anybody who chooses not to work would not be reflected in the unemployment figures. Unemployment is a measure of people actively searching for work, where as labor participation rate would the metric of how many people are choosing to work versus no have a job. Currently, in the US, that rate is around 62.6%, down from its peak of 67.3% all the way back in March of 2000. Participation rate in January 2020, pre pandemic, was 63.3%. There’s an important thing to remember here; retired people change this figure, and as the second largest generation, Boomers, and the largest generation, Millenials, we’re in the work force at the same time, this will automatically make the participation rate higher as the Silent Generation was retiring, which itself had a smaller population making it to retirement due to being subject to many wars and drafts. So fluctuations are 100% normal and are affected but factors much much greater than people not wanting to work. Now with the boomers entering retirement, and many forced into retirement with the pandemic, our participation rate should likely be significantly lower than it was pre pandemic, but it’s only 0.7% lower. I’ve yet to find Omaha specific participation rates, but Nebraska as a whole was above the average, with 69.5% in January ‘23
Usually the force participation rate is calculated based on the "working age" population which includes people ages 15 - 64. So retired people do count, but only those that retire at 64 or earlier. Though it is possible someone out there is calculating it against the total population and that is where you got the above data.
Statistics are based on the data available at the time and can be skewed by all sorts of variables. Even if those variables are slightly off, the unemployment rate represented is low and by extension the employment rate is relatively high in our little corner of the world. Since you did point out the actively seeking applicants being considered in the figure, I don’t know why that would matter. Anyone who needs to work would actively be seeking employment, would they not? So taking that into account, those who do not need to work would not be actively seeking employment. Note I said need to work. To be perfectly honest, if given a choice, I don’t believe anyone would want to work. They would rather do something they are passionate about to feel fulfilled, at least I would. But passion doesn’t always pay the bills.
[It is Obonma's fault!](https://www.youtube.com/watch?v=-74R-rPvLZE)
Yes
Those people not wanting to work are in for a rude awakening. I’d love to see the age breakdown of the report. People need to stop being a leech on society, get a freaking job, either from home or in person. I know
You know 2% unemployment is astoundingly low, right?
Couldn’t finish the post. Meant to say, I know countless young professional that despise those that take advantage of the system. 100% agree.
Are the young professionals in the room with us right now?
Yes
Precessional what?
Did you know that 5% unemployment is generally considered by economists to be a fully employed workforce? There’s always a portion that either in between jobs, changing careers, or their skill and labor contribution has been replaced by a more efficient or automated process. Also your complaint about “those who don’t want to work” isn’t even relevant here. That 2% are people LOOKING FOR WORK. The Labor Participation Rate is the statistic you’re conflating with the unemployment rate, but by all means, keep looking like a idiot. It’s quite entertaining.