Here's a better version of the trend I was trying to point out:https://twitter.com/rashaadtayob/status/1133055328139010051?s=20 …
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This chart doesn’t get enough attention, IMO. “Unemployment” stats can only be understood side-by-side with “labor force participation rate.” When someone stops trying to find a job, they drop out of the “unemployment” stat and only show up in the (non)-“participation rate.”pic.twitter.com/S2dZ9YJHIU
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Part of this is aging population. Men 25-54 is down from 97 to 90. Not good but not as bad as your chart. Total participation has gone from 65 to 82 which shows how many women have entered the labour force making it more competitive.pic.twitter.com/x8g8kwFPSl
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Increasing enrollment in college also seems like an important confounding factor that the 25–54 age bracket helps to disentangle
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Hi Kevin—Would be interesting to look at this by age bucket. I wonder how much of this is driven by longer life expectancy
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I think it’s already bracketed to ages 16–64. But yes, there are undoubtedly some age-related effects in here
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Crazy. Any good articles about this?
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this seems like a good intro to some of the issueshttps://theweek.com/articles/776507/38-percent-unemployment-just-aint-what-used …
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Does this chart show men of all ages, or even all ages >18? If so, seems to be showing growth of retirees since WW2, which is expected. Would be good to have participation graph for men 18-65 or something.
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Agree. https://fred.stlouisfed.org/series/LNS11300060 … tells a very different story.
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My father used to complain about this. That the unemployment statistics were misleading.https://twitter.com/KevinSimler/status/1133031940435587073 …
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