4 ms·
Although unemployment[0] is back to the pre-pandemic low, the employment-population ratio[1] is still below pre-pandemic levels. People just don't want to work.
by von_lohengramm 4y ago
Although unemployment[0] is back to the pre-pandemic low, the employment-population ratio[1] is still below pre-pandemic levels. People just don't want to work. Probably partially due to the same factors that gave way to /r/antiwork's and /r/workreform's explosions of popularity. I'm sure other factors like people moving in with their parents/friends during the lockdown and the stimulus checks are also contributing.
[0] https://fred.stlouisfed.org/series/UNRATE https://fred.stlouisfed.org/series/UNRATE
[1] https://fred.stlouisfed.org/series/EMRATIO https://fred.stlouisfed.org/series/EMRATIO
- D_Alex 4y agoAccording to those graphs, the employment to population ratio has been rising strongly for the last two quarters... which makes it even stranger IMO. BTW that first graph is a lovely illustration of how unemployment went up every time there was a recession - until now.
- enragedcacti 4y agoIs there any evidence that young people are the ones lowering the employment-population ratio? My understanding is that the pandemic resulted in an increase in retirements which could partially or fully account for the change in ratio. https://www.pewresearch.org/fact-tank/2021/11/04/amid-the-pandemic-a-rising-share-of-older-u-s-adults-are-now-retired/ https://www.pewresearch.org/fact-tank/2021/11/04/amid-the-pa...