by Bill McBride on 3/06/2016 07:56:00 PM
Sunday, March 06, 2016
From Ben Leubsdorf at the WSJ: The Hurdles to Getting U.S. Workers Off the Sidelines
The labor-force participation rate, which stood at 66% on the eve of the recession [slumped] to a 38-year low of 62.4% last fall ... Now the strongest run of hiring since the end of the 1990s is drawing would-be job seekers off the sidelines, pushing the rate steadily up since September. It hit 62.9% in February.Long term trends and demographics suggest the participation rate will continue to decline.
But powerful forces independent of the business cycle are exerting a strong downward pressure, with the wave of baby-boomer retirements topping the list. The participation rate may keep climbing in the short term, but many private and government economists believe it will resume its decline soon enough.
• Schedule for Week of March 6, 2016
• Update: Labor Force Participation
• At 10:00 AM ET, The Fed will release the monthly Labor Market Conditions Index (LMCI).
From CNBC: Pre-Market Data and Bloomberg futures: currently S&P futures are down 7 and DOW futures are down 48 (fair value).
Oil prices were up over the last week with WTI futures at $36.21 per barrel and Brent at $39.00 per barrel. A year ago, WTI was at $50, and Brent was at $60 - so prices are down about 30% year-over-year.
Here is a graph from Gasbuddy.com for nationwide gasoline prices. Nationally prices are at $1.82 per gallon (down about $0.65 per gallon from a year ago).
Posted by Bill McBride on 3/06/2016 07:56:00 PM