Quote:
Originally Posted by GoRedSox!
Regarding the Labor Force Participation Rate….10,000 people a day turn 65. There are more people who leave the labor force every day than come in.
There were also at least 2 million excess retirements in 2020-21 due to COVID. Excess retirements are those above the normal trend line. .
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Meanwhile ... by the gooberment's own fake numbers, over 9 million people moved here illegally in the last 3 years (which is probably closer to 15M when you realize that over 10K PER DAY are now crossing the border). That's more than the population of SEVERAL ENTIRE STATES COMBINED!
So we've actually way more than doubled the number of new entrants to the labor force --even accounting for retirees -- while the participation rate stayed the same.
And here's the telling part of the story. Where have all the "new jobs" come from? The SERVICE INDUSTRY. You know -- the maids, lawn service, and fast food jobs that citizens take as 2nd jobs, or "migrants" take for any wage they can get.
There simply is no "good news" in this economy beyond the hope that it might get better someday. But Good News, everybody! The Great Depression did finally end, after 10 years of gooberment meddling that merely made it worse. Of course, it took the worst war in history and the deaths of millions to do it.