The labor force calculation is the fatal flaw in the unemployment rate calculations. Thats why the Fed long ago began, internally, to use the Employment Rate, or the Employment-Population Ratio, EMRATIO.
https://fred.stlouisfed.org/series/EMRATIO
As can be seen, the US is still recovering from the Covid employment crash. Part of this is because there are still lingering effects of Covid policies. Upshot is however that there are still a lot of unemployed people.
“... there are still a lot of unemployed people.”
And to liberals, unemployed people are dependent on the government and the programs they have invented to keep the sheep in the corral. The problem that I saw in the sights is that the inflation rate, artificially created, is that the inflation rate is growing faster than the increase in jobs and wages. Unemployment continues to go up while wages are going the other direction. So it is even a wider expanse between the availability of expense than that of payment. So as moving capital decreases, it has the disappearance effect of employment needs. Less employees means less business or even closure. More unemployment. Downward spiral.
Government steps in with enough to appear to do the work. And their programs like not being able to collect rent or default on loans, is an open invitation to financial failure for larger and larger sources of protection.
wy69