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You're thinking labor force particpation rate, also tracked by the BLS. It's more or less returned to within a percent of what it was pre-Covid https://www.bls.
by dv_dt 3y ago
You're thinking labor force particpation rate, also tracked by the BLS. It's more or less returned to within a percent of what it was pre-Covid https://www.bls.gov/charts/employment-situation/civilian-labor-force-participation-rate.htm https://www.bls.gov/charts/employment-situation/civilian-lab...
- jakear 3y ago“Within a percent” is doing some heavy lifting there. The slightest of changes is hundreds of thousands of people.
- dv_dt 3y agoMay 2019: 62.9% Jan 2020: 63.3% May 2023: 62.6% Remember the workforce also lost millions of people to death and disability. The percentage has never recovered from post 2008 range of ~66%.
- listenallyall 3y agoStill, "within a percent" is misleading in this context. The number is within one percentage point, however, the entire range of the dataset since 1970 has been within 60 to 67%. Therefore, "a percent" difference is 14% of the range. For 2 decades between 1988 and 2008 the entire range was steady between 65.8 and 67.2 or so. The ensuing "great recession" only dropped the rate by about 3 percentage points. https://fred.stlouisfed.org/series/CIVPART https://fred.stlouisfed.org/series/CIVPART The difference between a reliable cloud service with 99.9% uptime and one with 99% uptime is also "within a percent" -- but the less reliable service has 10x more interruptions.