Jezcoe
222
You are reading the chart wrong.
Labor particiption has been steadily decreasing for a couple of decades because Boomers are retiring.
The huge drop on the chart was at the beginning of the pandemic.
Since things have been opening up, it has been pretty steadily increasing, but still down 1.5% off of the pre pandemic mark.
From BLS. Where is the drop under Biden?
Nope. You are looking at that chart incorrectly. Since January of 2021. Labor participation has increased.
The huge downturn was under the trump admin during the spring/summer of 2020 showdown of the economy.
Trump was POTUS.
Allan
how soon we forget. wages were rising especially on the lower end faster than inflation before the pandemic. the inflationary wage spiral we’re in now is unhealthy. there are 4 million people who were working pre pandemic who now are not, not such a small pool.
1 Like
that is false. it increased under trump for the first time in decades.
it is when talking about labor participation. about 4 million people.
He said it was steadily decreasing for decades and he is correct.
Trump had a .5% bump from the start of his term until Dec 2019.
Obama also had a bump in 2010.
Jezcoe
231
What are you talking about? Wage growth was pretty flat for the decade preceding the pandemic.
Jezcoe
232
If only there was very large generation that was either reaching or nearing retirement age during the pandemic… if only
no, he said it and he’s full of ■■■■■
unless of course you think obama was president for “decades”
the participation rate does not include retirement age peoples.
4 million still out of work.
Tom_Ch
235
Just as expected . Righties are now fighting hard to make LP rate a big deal again. Notice how they were ignored completely for 4 years.
1 Like
ignored? hardly. i pointed out many times that the participation rate going up while unemployment went down was a great thing.
Jezcoe
237
But it does include people who are under retirement age.
Is it so wild to accept that a bunch of people who were approaching retirement age went ahead and dropped out of the labor force because they could afford it?
How about the households with two incomes paring back to one income because they figured out that they could afford to do so?
There are a ton of reasons why the labor force participation rate is 1.5% lower than it was pre pandemic and those who are attributing it to unemployment benefits that ran out months ago are just being silly at this point.
Tom_Ch
238
so what’s occuring now is exactly what happen during trump admin.
what’s the problem now? i still don’t get the complaint.
Jezcoe
239
That chart shows the labor participation rate steadily decreasing since 2001.
Or for 20 years.
Or decades if you will.
It is almost like it charts the entrance and exit of a very large generation’s path in the US work force.
Thanks for proving his point.
From Sept 2000 until today… labor participation rate has been dropping. That’s 2 decades.
