I've been arguing for years that not nearly enough attention is being paid to the Labor Force Participation Rate.
When you look at those not in the labor force, nearly half the workers sidelined during the COVID Pandemic Panic never returned to the workforce.
When Biden finally ends his Reign of Error, the size of the Not In The Labor Force cohort will be higher than whan he came into office. Meanwhile overall employment in this country has trended down in recent months, and the employment population ratio has been doing the same thing for longer.
I've been arguing for years that not nearly enough attention is being paid to the Labor Force Participation Rate.
When you look at those not in the labor force, nearly half the workers sidelined during the COVID Pandemic Panic never returned to the workforce.
When Biden finally ends his Reign of Error, the size of the Not In The Labor Force cohort will be higher than whan he came into office. Meanwhile overall employment in this country has trended down in recent months, and the employment population ratio has been doing the same thing for longer.
https://newsletter.allfactsmatter.us/p/idle-hands
When you peel back the top layers of the jobs data, it is clear the US is losing jobs. Employment itself is on the decline in this country.
https://newsletter.allfactsmatter.us/p/the-jobs-recession-is-here
And no, that is not a pretty picture.