A record 92,269,000 Americans 16 and older did not participate in the labor force in August, as the labor force participation rate matched a 36-year low of 62.8 percent, according to the Bureau of Labor Statistics.Meantime:
The labor force participation rate has been as low as 62.8 percent in six of the last twelve months, but prior to last October had not fallen that low since 1978.
CHINA BECOMES WORLD'S LARGEST MARKET FOR ROBOTS
Which means that most of those jobs off-shored from the West won't be coming back, ever.
And in the US, the Wall Street Journal Reports:
ONE IN THREE WORKERS IS A TEMP
Layoffs that accompanied the recession forced many individuals to forge a living from short-term gigs, while online marketplaces such as Elance, TaskRabbit and Uber emerged to match independent workers with companies or individuals in need of labor.And from Bill Bonner:
THE REAL REASON AMERICAN CAPITALISM IS FAILING
Washington now pays out a quarter of all personal income in the US – either in salaries or benefits.