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23 Percent Of Americans In Their Prime Working Years Are Unemployed

by Michael Snyder, The Economic Collapse Blog:

Did you know that when you take the number of working age Americans that are officially unemployed (8.2 million) and add that number to the number of working age Americans that are considered to be “not in the labor force” (94.3 million), that gives us a grand total of 102.5 million working age Americans that do not have a job right now?  I have written about this before, but today I want to focus just on Americans that are in their prime working years.  When you look at only Americans that are from age 25 to age 54, 23.2 percent of them are unemployed right now.  The following analysis and chart come from the Weekly Standard

Here’s a chart showing those in that age group currently employed (95.6 million) and those who aren’t (28.9 million):

Americans In Their Prime Working Years Not Working

“There are 124.5 million Americans in their prime working years (ages 25–54). Nearly one-quarter of this group—28.9 million people, or 23.2 percent of the total—is not currently employed. They either became so discouraged that they left the labor force entirely, or they are in the labor force but unemployed. This group of non-employed individuals is more than 3.5 million larger than before the recession began in 2007,” writes the Republican side of the Senate Budget Committee.

Clearly, we have never recovered from the impact of the last recession.

But let’s try to put these numbers in context.

Below, I would like to share two charts with you.  They show what has happened to the inactivity rates for men and for women in their prime working years in the United States in recent years.

In order to be considered “inactive”, you can’t have a job and you can’t be looking for a job.  So this subset of people is smaller than the group that we were talking about above.  The 23.2 percent of Americans in their prime working years that are unemployed right now includes those that are looking for a job and those that are not looking for a job.

These next two charts do not include anyone that has a job or that is currently looking for a job.  These charts only cover “inactive” people in their prime working years that are not considered to be in the labor force.

Read More @ Theeconomiccollapseblog.com

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3 comments to 23 Percent Of Americans In Their Prime Working Years Are Unemployed

  • Scott

    I’m a prime example. Company I worked for went out of business in 2008. Being a 50 y.o. man it was impossible to get another job so after 2 years of trying I quit looking, I cashed in all of my IRA’s and bought 7 rental properties over the next 3 years. I now sit back and live off rental income. Thankfully I had these skills to fall back on or I would have been F—–!

  • Craig Escaped Detroit

    Doing rental properties, can be tricky. Feast or Famine. Rule No. 1? Never rent to dead beats unless you put “section 8” people in there and have the gov’t rent check direct deposited into YOUR account (but the physical property must be as bullet proof as possible.)

    Some markets, they’ll destroy your place, skip on the rent, and move a bunch of other people into the place.

    A good strategy, is to have several rental units on a single “tax unit”, shared roof, etc will cut down future upkeep.

    Renting to RETIREES on a fixed income seems like a more secure system, or, renting units in a HIGH class area, high demand, etc.

    The world is full of rental horror stories. Broken toilets, get repaired only to be broken again (which means the renter gets a free pass until it’s fixed.)

    There are PRISON toilets (Stainless steel) that can support 500 pound gorillas (which might be needed in today’s WalMart Walrus hippos.)

    If it’s gotta be built, then I’d go for the PRE-CAST, or POURED CONCRETE structure. Bullet proof, fire proof, etc. No sheet rock walls for making holes, etc. People are animals and don’t respect things they didn’t pay for.

    I’ve seen the WORST of them (in Detroit), and I used to know a “well to do” family who rented a high class home, in a rich area, and they were paying $8000 per month, and still screwed the owners. (area known as “Cranbrook” and also “Bloomfield Hills Michigan” (home to MANY multi millionaires and a few billionaires.)

    Some of those rich people screw the builders, etc. EVen Aretha Franklin (singer) screwed some builders and had to be SUED to pay up. I’m a bit familiar with that local case too.

  • Craig Escaped Detroit

    Famous case, (California??), 20 or 30 years ago? Some branch of government, thought it was a great idea, to stop doing “Direct rental payments” to the LandLords, and started sending the checks to the “Deadbeats” so those deadbeats could feel some “dignity” about paying the rent with their own hands. (Section 8 rentals.)

    You know what happened. The “renters” had money for booze, drugs, and everything but the rent. For the rent, they had only a bunch of excuses.

    So, a bunch of LandLords got SMART, and they decided, since they were not getting paid any rent, the landlords MODIFIED the section 8 rental prices,, down from what it was, (perhaps $800 per month), down to just “$1.oo Per month”.

    And you KNOW what happened next? As soon as the next “rental PAYMENT” arrived at the deadbeats mailbox, and the check was for ONE BUCK (instead of the $800 they were expecting), the SHTF.

    Those deadbeats raised holy hell, as well as they began to move out as fast as they could get away from a place that didn’t put money into their pockets.

    The government quickly changed the rules BACK to paying the rental money DIRECTLY to the landlords and no longer trusted the deadbeats to become responsible citizens.

    Some smart landlords, specify in the rental contract, that each additional living person who stays overnight, is charged an extra DAILY FEE. Dog’s cats, any animal, is either grounds for eviction, as well as a daily FEE.

    Number of cars allowed per unit, how many visitors per day, week, etc. Having more babies is another fee etc. Smoking, doping, arrests.

    Some contracts, are NOT written as per unit, but rather, as per body residing there.

    A good friend of mine, used to manage a small trailer park, and under the state laws, the park owner was allowed to act as a UTILITY company, and put his own meters on each unit and charge his own power rates to the residents. He was a “power distributor”, bring it on site, and “re-distribute” it.

    Low Pitched roofs (ranch style) are safer and cheaper to get the work done on it. Sheet metal roofing (done well), will outlast any shingle roofing by at least 200-300% longer. The better ones, are good for 75-100 years.

    (Just galvanized, starts to rust after the zinc wears off in about 20 years or so. SO it’s a VERY wise idea to put a good coat of 20 year exterior paint on it every 15 or 20 years to extend the life, perhaps forever.)

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