3 ms·
The author lost my interest after stating 6% unemployment is good without even mentioning the Labor Participation Rate. It would be if the Labor Participation R
by hermitdev 10y ago
The author lost my interest after stating 6% unemployment is good without even mentioning the Labor Participation Rate. It would be if the Labor Participation Rate [1] hadn't fallen as much as it has. The US economy has lost 3.2M jobs since Jan 2006 thru Oct 2016.
tl;dr The unemployment rate is falling because people are losing their benefits and falling out of the labor force, and no longer being counted as unemployed.
[1] http://data.bls.gov/timeseries/LNS11300000 http://data.bls.gov/timeseries/LNS11300000
(editted for grammar)
- edblarney 10y agoSecular decline in labour participation rate decline is mostly demographics. People are getting older, and not having as many kids as they used to. This started in 2000 coincident with the downturn. The big drop in 2008 was mostly the crash.