Originally Posted by Piobaire
I see a report issued today says the labour participation rate is only 62.8%, which is the lowest that's been since 1978. Obama really is a two term Carter.
It's bad news,but about half of the decline is from the broader demographic trend of Boomers leaving the workforce with retirement. Nothing Obama could have done about that one.
I'm curious though, where do these younger people who are dropping out of the workforce go? Welfare? Mooching off parents? Selling drugs? Do we have numbers on this stuff?
Originally Posted by RollingStone
Some economists have proposed running a job guarantee through the non-profit sector, which would make it even easier to suit the job to the worker. Imagine a world where people could contribute the skills that inspire them – teaching, tutoring, urban farming, cleaning up the environment, painting murals – rather than telemarketing or whatever other stupid tasks bosses need done to supplement their millions. Sounds nice, doesn't it?
We're going to pay people to do whatever bullshit they feel like doing, regardless of demand? Most people's "passions" are hobbies, not things you get paid for.
Might as well just phrase it as paying people a minimum guaranteed income to remove themselves from the workforce as surplus labor, because that's basically what you're doing.