Here is a chart from reader Tim Wallace showing social security and disability stats for June of 2012 compared to June in prior years.
Photo: Mish’s Global Economics
The chart shows those receiving benefits. Those not in the labour force claiming a disability is much higher.
Not in labour Force – With a Disability, 16 Years and Over
Photo: Mish’s Global Economics
In terms of effect on unemployment stats, the above chart applies.
Beneficiary Data
Beneficiary Data in first chart is from Social Security Online. Here are additional charts from the site.
Number of Beneficiaries by Type
Photo: Mish’s Global Economics
Number of Beneficiaries as of December 2011
Photo: Mish’s Global Economics
A few more charts will put this in perspective.
Civilian labour Force
Photo: Mish’s Global Economics
Private Employment
Photo: Mish’s Global Economics
Quick Stats
- As of 2012-06 the civilian labour force was 155,163,000
- As of 2012-06 there were 111,145,000 in the private workforce
- As of 2012-06 there were 56,174,538 collecting some form of SS or disability benefit
- Ratio of SS beneficiaries to private employment just passed the 50% mark (50.54%)
Here is one final chart to ponder.
Social Security Benefits in Dollars
Photo: Mish’s Global Economics
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