s Reud concludes, “with unemployment currently so low it might still take a while for a recession to play out it’s almost certainly when not if.
Historic Bayley's Seafood Restaurant Closing Its Doors
"We just can't get another cook and I'm too old. I'm 77 years old, I don't need to be back there trying to cook," said Bill Bayley. "We don't have but one waitress. We ran a sign out here for about 3 months before we got the first application."
Unemployment is low, according to the BLS. The figure we should be concerned about is the labor participation rate. Trump had good unemployment and excellent labor participation prior to the Democrat COVID shutdowns. Biden talks about how good the economy is doing and the millions of jobs he has created. That's complete bullshit, it's just people returning to their jobs. Given vaccine mandates there are some people that will never return. Take the airline industry for instance. They are canceling flights and cutting routes because they don't have enough staff. They are not coming back.
By the way, high employment as little to do with recession. Inflation has a greater impact. High unemployment will follow recession. We are headed for recession as soon as GDP numbers come out in July. Unemployment will begin increasing this autumn. Inflation will be the one thing that will hold fairly steady, unless there is something unexpected like a hurricane in the Gulf of Mexico that shutters oil rigs or Biden tries to something galactically stupid. Everything Biden touches turns to shit.