“Job participation is what needs to be looked at”
I’ve always thought that too. Maybe it’s called Labor Participation Rate.
“I’ve always thought that too. Maybe it’s called Labor Participation Rate.”
A common argument against using this number, however, while boomers are leaving work the population of the nation still has grown by over 30,000,000 in the period I mentioned. Also, since the economy and inflation are bad the older workforce is forced to work longer and come back in.
But the point was that unemployment is an easy number to lie about and manipulate. Just say this couple of million of people are no longer looking, and unemployment drops a percentage point (don’t even need proof, just a pencil pusher to say it).