Friday, July 07, 2006
Requisite Bad Economic News for 'Balance'
Because there is no such thing as good economic news while a Republican is in the White House, the Washington Post is duty bound to bring us this piece of alarming news: Whither the Women? Sub-headlined: After Decades on Rise, Labor Participation Rate Is Down.
Yep, things are pretty grim:
“But women's rush to employment stopped in 2000 and started to decline, as they began to join their male counterparts in retirement, go out on disability and delay paid employment to get more education. Some economists think the high-water mark of female participation in the labor force was in 2000, when it hit 60.3 percent.”
(and please, no one tell Linda Hirshman: Unleashing the Wrath of Stay-at-Home Moms – these poor women don’t need another lecture from her)
Wow, two references to the year 2000…hmm, now what happened in 2000 that could have reversed that trend? Anyway, the ubiquitous “economists” (no names, please) say that:
“This flattening of the women's rate, combined with a continuing decline in the men's rate, has helped tighten the job market and could slow U.S. economic growth in coming years…”
Actually, Post writer Neil Henderson includes a fair bit of anecdotal evidence that perhaps this isn’t all a sexist GOP plot but also includes this tidbit:
“Some analysts say the labor force participation rate also reflects the lingering effects of the last economic downturn and that it would have rebounded by now if job growth were stronger. The fact that so many people remain out of the workforce reflects "weak labor demand rather than choice," said Jared Bernstein, senior economist at the Economic Policy Institute, a think tank focused on labor issues.”
The Economic Policy Institute bills its work as “Research and Ideas for Working People” and Mr. Bernstein is its Director of the Living Standards program so you can perhaps guess where on the political spectrum they fall. But if you guess wrong, then peruse this recent interview Mr. Bernstein had: Daily Kos: (Bush Yoyos While the U.S. Burns)
That is the only economist Mr. Henderson bothered talking with so I guess we’re stuck with his one-sided viewpoint of a “weak labor demand”. Meanwhile, elsewhere in the Post: Small Gains Keep Unemployment Rate Steady reports that unemployment remains at 4.6%. Will our doldrums never end?
Yep, things are pretty grim:
“But women's rush to employment stopped in 2000 and started to decline, as they began to join their male counterparts in retirement, go out on disability and delay paid employment to get more education. Some economists think the high-water mark of female participation in the labor force was in 2000, when it hit 60.3 percent.”
(and please, no one tell Linda Hirshman: Unleashing the Wrath of Stay-at-Home Moms – these poor women don’t need another lecture from her)
Wow, two references to the year 2000…hmm, now what happened in 2000 that could have reversed that trend? Anyway, the ubiquitous “economists” (no names, please) say that:
“This flattening of the women's rate, combined with a continuing decline in the men's rate, has helped tighten the job market and could slow U.S. economic growth in coming years…”
Actually, Post writer Neil Henderson includes a fair bit of anecdotal evidence that perhaps this isn’t all a sexist GOP plot but also includes this tidbit:
“Some analysts say the labor force participation rate also reflects the lingering effects of the last economic downturn and that it would have rebounded by now if job growth were stronger. The fact that so many people remain out of the workforce reflects "weak labor demand rather than choice," said Jared Bernstein, senior economist at the Economic Policy Institute, a think tank focused on labor issues.”
The Economic Policy Institute bills its work as “Research and Ideas for Working People” and Mr. Bernstein is its Director of the Living Standards program so you can perhaps guess where on the political spectrum they fall. But if you guess wrong, then peruse this recent interview Mr. Bernstein had: Daily Kos: (Bush Yoyos While the U.S. Burns)
That is the only economist Mr. Henderson bothered talking with so I guess we’re stuck with his one-sided viewpoint of a “weak labor demand”. Meanwhile, elsewhere in the Post: Small Gains Keep Unemployment Rate Steady reports that unemployment remains at 4.6%. Will our doldrums never end?
