That damn recession!

wingmatt

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I see the labor force participation rate still hasn't fully recovered ....

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pintail2222

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I see the labor force participation rate still hasn't fully recovered ....

View attachment 350790

As of June 2022, the size of the labor force has shrunk relative to its pre-pandemic path: the labor force is roughly three- to three-and-a-half million workers smaller than its pre-pandemic projection.[1] A large portion of the decrease in the size of the labor force relative to pre-pandemic projections—approximately a third—has nothing to do with labor force participation. First, the population is smaller because of pandemic-related deaths. While those deaths have been concentrated among those 65 and older (three-quarters of a million), more than a quarter of a million pandemic-related deaths are estimated for those between the ages of 18 and 64. Second, there are ongoing pandemic- and policy-related factors that are depressing immigration.

The biggest decline in the labor force has been among those ages 55 and over, with those 65 and older accounting for about a third of the total decline, owing to a combination of death among this group and lower labor force participation. The declines in participation likely reflect early retirements, concerns about health, and to some extent excess disabilityand lower life expectancy caused by disability due to COVID-19.

The aggregate labor force participation rate (the share of the population over the age of 16 who is working or actively seeking work) remains depressed at 62.2 percent. This piece documents changes in labor force participation between June 2022 and two earlier periods: 2016 (when LFPR began to pick up after a sustained decline) and 2000 (when LFPR peaked). By controlling for the contribution of changing demographics to LFPR, we isolate the contribution of participation to the differences in LFPR from June 2022 to 2016 and 2000. This analysis explores the opportunities that a smaller but hotter labor market afford, identifies populations who could drive labor force growth, and points to public policy interventions that could increase labor force participation.

 

Ruination

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Two jobs is nothing new for much of America, welcome to the party.
 

wingmatt

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Bear

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God Bless Texas!!!
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Ruination

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Well, not the Democrat party .....

So you're saying they are hard workers?

The truth is, people working two jobs don't have time to care about politics.
 

timber hunter

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While businesses recouped all jobs lost in June and are now 629,000 positions above the pre-COVID-19 level, government is still nearly 600,000 jobs below that benchmark.

I can see why you guys wouldn't think this is good....wait... huh?

Biden draining the swamp!
 

JP

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One months job numbers shalt not undo a recession.
 

JP

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While businesses recouped all jobs lost in June and are now 629,000 positions above the pre-COVID-19 level, government is still nearly 600,000 jobs below that benchmark.

I can see why you guys wouldn't think this is good....wait... huh?

Biden draining the swamp!
Biden…IS the Swamp
 

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