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by volkl48
2599 days ago
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Prime age (25-54) labor participation has been climbing steadily since 2015, and while not 100% recovered, it is quite close to pre-08 numbers. https://fred.stlouisfed.org/series/LNS11300060 The graph people like to cite when they say nothing has gotten better, the "plain" one: https://fred.stlouisfed.org/series/CIVPART , is fairly misleading without context. That one is calculated simply based on the non-instutionalized (prison/hospital) population over age 16. There's a number of major contributors to that one that make it unlikely to ever recover in my view. Some notable points: - Aging. The US might be aging slower than many other developed countries, but median age is climbing, there are more retirees as a % of the over 16 population each year. Each one of those counts against the labor participation rate. - Employment in the 16-19 age bracket has plummeted, down ~15% since the 90s. College attendance, societal changes, etc. |
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