Quote:
Originally Posted by emathias
Labor force participation is low primarily because the Baby Boomers are retiring, not because people are staying home refusing to work because they feel undervalued. Yes, *some* of that rate is people who could be working, but even if everyone who wanted a job had one the labor force participation rate would be at historic lows (at least once controlling for the movement of women into the workforce during th 60s and 70s) because of boomer retirements coupled with relatively low birthrates over the past 40 years. The workers-to-retired ratio is only going to get worse (as in more retirees to fewer workers), and immigration helps mitigate that.
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Then why are we still a million construction jobs short of the last boom?
http://data.bls.gov/timeseries/CES20...a_tool=XGtable
thankfully wages have been increasing (if you explore more on that site)
wages are not increasing fast enough mainly because cheap credit is driving up land prices, so employers need to substitute for cheap and bad foreign labor in order to run a profit. If cheap, easy credit was not available, land prices would decrease and allow employers to pay more to willing US workers.
nobody ever should say we need more immigrant labor, when we have 45 million people on food stamps and other welfare, that only continues to drive labor prices downward
Labor shortage is one of the biggest farces out there!