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Odd that the article doesn't even mention the labor participation rate ("the number of people ages 16 and over who are employed or actively seeking employment d
by pezzana 5y ago
Odd that the article doesn't even mention the labor participation rate ("the number of people ages 16 and over who are employed or actively seeking employment divided by the total noninstitutionalized, civilian working-age population".
https://www.investopedia.com/terms/p/participationrate.asp https://www.investopedia.com/terms/p/participationrate.asp
A quick look at the Fred chart shows that the US is nowhere close to regaining pre-pandemic levels, and that this comes amid a multi-year decline:
https://fred.stlouisfed.org/series/CIVPART https://fred.stlouisfed.org/series/CIVPART
Although the reasons may not be clear, the resignation itself has some pretty good evidence.
- twoquestions 5y agoLooks like baby boomers retiring is what's fueled this decline for the last 20 years or so, and the pandemic has forced people to reevaluate their situation. I'd be shocked if we got back up to pre-pandemic participation barring a WWII style extreme scenario.