Thread: Lyons Den
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Old 06-06-2017, 08:12 AM   #9
thinkxingu
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Quote:
Originally Posted by jeffk View Post
Agreed that 94 million is not right. Here's a better estimate, IMO.
The population is 325 million and Labor Participation Rate is around 63%, 205 million working. The LPR previous to 2008 was around 66% which would have had 215 million working. About 10 million less people are engaged in the workforce than would have been.

The Participation Rate cuts across all segments of the population and incorporates all conditions, like able to work but not for a good reason. Those conditions, while varied, are not usually subject to rapid changes. For example, the number of college students not working for good reason is unlikely to surge enormously over the time period.

The loss in labor participation is likely due to poor/tight economic conditions.

As an aside, also consider that 10,000,000 * $40,000 average salary = $400,000,000,000,000 ($400 billion) in forsaken income. Since salary is only a part of actual economic earnings (the company makes more on your labor than they pay you) and earnings spin off other economic activity (if you work you can afford to buy more thereby paying other people) the economic value lost could easily exceed $1 trillion.

NH population is (1.33 million/325 million US) x 10,000,000 = about 41,000 potential NH workers NOT working.

Now what the NH restaurant proportion and specifically the Lyon's Den allotment of the 41,000 people might be is anyone's guess.
Does your decrease in LPR include the large population of baby boomers that have moved to retirement? I gotta think the size of that generation leaving the workforce would easily affect percentages over a decade?

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