Many people are checking entirely out of the economy (no longer looking for work)
Sure, they’re called Retirees. And they’re moving into retirement due to their advanced age. And we’re seeing a glut of them due to the lopsided Boomer age cohort. But, among Millennials and Zoomers, workforce participation is above the historical average. Two-income housesholds are the modern norm. We are not in any kind of unemployment crisis. If anything, we’re experiencing a labor shortage.
We literally have a class of working homeless people in this country.
That’s got nothing to do with workforce participation, either as a useful metric or a share of the population. Far more indicative of our abysmal housing policies and our atrocious criminal justice system.
Sure, they’re called Retirees. And they’re moving into retirement due to their advanced age. And we’re seeing a glut of them due to the lopsided Boomer age cohort. But, among Millennials and Zoomers, workforce participation is above the historical average. Two-income housesholds are the modern norm. We are not in any kind of unemployment crisis. If anything, we’re experiencing a labor shortage.
That’s got nothing to do with workforce participation, either as a useful metric or a share of the population. Far more indicative of our abysmal housing policies and our atrocious criminal justice system.