Wozzie needs to steal from better sources than Condie.

More proof of the leftist hogwash in Wozzie's Condie's article.

The article cited makes this claim:

Baby boomers are retiring in record numbers. Meanwhile, thanks to modern medicine and contemporary living, Americans are living longer today than ever before. That means those retirees will outlive the retirees of previous generations considerably, and seeing as how they’re retired, they’re no longer a part of the work force… they’re contributing to the deflation of the labor force participation rate in massive ways, and for all of the right reasons.”

 

However, when a leftist makes a claim, always check the facts, not liberal weasel wording.

From an analysis as of Ocotber 2013:

In other words, the 30 to 59 year olds, who make up 50% of the population which has the potential to work, account for pretty much all of the labor participation rate plunge since 2007.  This same age group accounts for three quarters of the labor participation rate decline of the past year.

Anyone who insists the record low labor participation rate is due to baby boomers and people retiring is flat out wrong.  It is clear the labor participation rate is dropping for people in the prime working years.  Any way one slices it, the shrinking labor force is not due to baby boomers or magically all young people went off studying their hearts out.  Anyone can do the above exercise to prove it.  All one needs is a spreadsheet, access to the Internet to obtain BLS data and a hell of a lot of time.”

The article is rather technical, I suggest reading it to fully understand the analysis.  (Democrats may have to get a STEM to explain it,)  Wozzie will probably also required adult supervision to ensure he's not stoned.

http://www.economicpopulist.or...ement-or-school-5431

 

Bloomberg reached a similar conclusion in a January 2015 article:

As the chart above indicates, a larger share of the U.S. population is now retired. That can mean either more discouraged workers (who may retire earlier than planned) or an older population. But as the second chart shows, the share of people aged 55 to 64 who retired actually fell from 20 to 16 percent from 2006 to 2014. Rather than dropping out of the labor force because they couldn't find a job, older Americans kept working. In other words, the recession seemed to keep more elderly Americans in labor force, probably because people couldn't afford to retire when they had originally planned. A growing number of retirees did contribute to the dwindling labor force, but only because the American population got older. There isn't much evidence that droves of elderly workers got frustrated with their job prospects and retired early.”

Bloomberg also determined that young persons in school did contribute to the dwindling labor participation rate.  However, the reason was that after becoming discouraged at finding a job, the returned to school.

“The second-biggest reason people don't work is school. The share of non-working students increased from 5.8 percent in 2006 to to a peak of 7.1 percent in 2012; it comprised mostly individuals younger than 35. That figure increased because people went back to school when they couldn't find work, though it's likely to improve: Members of this group will probably look for work when the economy improves, and they may even have learned new skills. In fact, there are already signs that some people who went to school are returning to the labor force. School enrollment among those aged 20 to 29 is down from the its 2010 peak. In 2013 the share of non-working students started to fall. “

http://www.bloomberg.com/news/...tion-is-still-so-low

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