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Literally none of the aspects of your statement are accurate. This report revised all the recent reports upwards. Pay is growing faster than inflation. Particip

Literally none of the aspects of your statement are accurate. This report revised all the recent reports upwards. Pay is growing faster than inflation. Participation increases almost monotonically since the onset of the pandemic and for some demographic groups stands at record highs. Total labor participation rate is purely driven by generational demographics. Boomers have largely passed out of their working years, but they forgot to die, so total labor force participation falls. Prime age participation is as high as it's ever been. https://fred.stlouisfed.org/series/LNS11300060 https://fred.stlouisfed.org/series/LNS11300060

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maerF0x0 3y ago
Well here's sources that show that two points are not inaccurate at all, and one is hard to support depending on the stat you choose. And the stat you chose did barely increase. (IMO 0.5% in 1 year is suspect in my mind when you include my personal bias that inflation is under reported). Jobs numbers in Oct, Nov, Dec all revised down. [1], [2] Labor participation rate, peaked ~67% in 2000s, down to 61% a year after the pandemic. [3] Looks like you're right that median household income has had real gains "a 0.5-percent increase in real average weekly earnings over this period." [5] Even more stark when you filter by Men - peaked at 86% in the 50's and has been consistently declining for 70 years to 68%. [4] [1]: https://thehill.com/business/4389966-us-added-216000-jobs-in-december-closing-out-strong-2023/ https://thehill.com/business/4389966-us-added-216000-jobs-in... [2]: https://ktrh.iheart.com/featured/houston-texas-news/content/2024-02-02-january-jobs-report-beats-expectations-december-numbers-revised-downward/ https://ktrh.iheart.com/featured/houston-texas-news/content/... [3]: https://fred.stlouisfed.org/series/CIVPART https://fred.stlouisfed.org/series/CIVPART [4]: https://fred.stlouisfed.org/series/LNS11300001 https://fred.stlouisfed.org/series/LNS11300001 [5]: https://www.bls.gov/news.release/realer.nr0.htm https://www.bls.gov/news.release/realer.nr0.htm

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maerF0x0 3y ago

Well here's sources that show that two points are not inaccurate at all, and one is hard to support depending on the stat you choose. And the stat you chose did barely increase. (IMO 0.5% in 1 year is suspect in my mind when you include my personal bias that inflation is under reported). Jobs numbers in Oct, Nov, Dec all revised down. [1], [2] Labor participation rate, peaked ~67% in 2000s, down to 61% a year after the pandemic. [3] Looks like you're right that median household income has had real gains "a 0.5-percent increase in real average weekly earnings over this period." [5] Even more stark when you filter by Men - peaked at 86% in the 50's and has been consistently declining for 70 years to 68%. [4] [1]: https://thehill.com/business/4389966-us-added-216000-jobs-in-december-closing-out-strong-2023/ https://thehill.com/business/4389966-us-added-216000-jobs-in... [2]: https://ktrh.iheart.com/featured/houston-texas-news/content/2024-02-02-january-jobs-report-beats-expectations-december-numbers-revised-downward/ https://ktrh.iheart.com/featured/houston-texas-news/content/... [3]: https://fred.stlouisfed.org/series/CIVPART https://fred.stlouisfed.org/series/CIVPART [4]: https://fred.stlouisfed.org/series/LNS11300001 https://fred.stlouisfed.org/series/LNS11300001 [5]: https://www.bls.gov/news.release/realer.nr0.htm https://www.bls.gov/news.release/realer.nr0.htm