OMG, we agree on something. (checks temperature in hell…“Yep, still hot AF in Houston.”)
The Labor Participation Rate is below 2019.
We must get back to that to truly have real job and income growth.
The number of people not working exceeds 100 million. And,yes, that includes retirees.
Why stop at 2019? That’s not the high water mark.
In any case, you can’t force people to work. The job market has been great. If people aren’t getting back into it, there isn’t much anyone can do about it.
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LFPR is declining because of our aging population (baby boomers). Its a poor stat to use because of this.
U6 is historically low. If you’re going to switch from watching U3 its the better stat.
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