[phpisthebest]

Largely because work force participation is at an historic low.

Retirements, "gig" economy, etc are not reflective in the current government unemployment stats, so they do not paint a good picture IMO.

We still have not returned to pre-pandimic levels for Work Force Participation, or Employment-Population Ratio, which where already in a slump since the 2008-2010 Recession.

The employment picture is not as rosey as people citing unemployment numbers likes to believe, but it supports their narrative that the "economy is good" and it also supports government debt spending which right now what is driving inflation more than consumer demand.

We are in very unusual and troubling times economically, and the people at the switch are not looking at the correct numbers to make good decisions

[xbar]

This. First time unemployment claims are not going to capture any of what's happening to these jobs.