Workforce Participation

 

 

"Holy smokes! Every day of the week is just like a weekend now..."

Towards the end of my working days, I worked at IBM. If I was not on site at a clients facility, I worked out of my home. One of the advantages of working at home was a more flexible schedule. I could go to the "Y" at lunchtime and workout. It was great, because I had the place almost to myself. There were always some "blue hairs" in the Sliver Sneaker Program, as well as a few stay at home Moms, but that was about it.

Flash forward to today. My wife and I go to the "Y" in the morning, and it is packed. So packed, that many times we are unable to get a machine. Who is using these machines? Twenty something and thirty something young people. Sometimes when I look around the facility, there are about 75 to 80 percent working age folks using the gym. The rest are legitimate retired folks like us.

We also notice this when we are doing errands during the day. The major department stores have parking lots which are way over half full or cars. Some days, almost full. Many times my wife and I ask each other the same question - "Don't these people work?" Maybe not. Or, maybe they work part time. Or maybe flexible schedules. However, the government is keeping statistics which might tell the real story.

Our workplace participation rate is horrible right now. As recently as last November, only sixty-three percent of us had a job or were actively looking for one. That is the lowest level since Jimmy Carter days. We have made it very easy for people to "game the system" to receive SSI (disability). Because of that, we are now spending $200B a year for people not to work, while many are still able to. There are two or three young people at the "Y" who work out with weights every day, that proudly proclaim they are on disability. And nobody seems to care.

So here we have our new reality. The "work sucks" reality. Living under the new Democratic talking point of "You don't have to work - you can just follow your muse instead." We don't need to work, we have "Uncle Sugar" to take care of us now. He can just print more money. The latest "tool" running the Fed is just a carbon copy of the ones before her. Print more, worry later. Work after all, is just for chumps.

If you work, the next time you take a day off, notice the number of people out and about. Then notice the ages. If might shock you. However, since this is becoming our "new norm", the shock value might be starting to wear off. We are either frogs sitting in boiling water or we are just falling deeper and deeper into the rabbit hole.