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Some Good News For a Change [1]

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Date: 2023-04-16  

Labor Force Participation Rate Males... White red, Black blue

This observation isn’t mine, it comes from Claudia Sam that former Fed economist turned pundit.

The official unemployment rate is at 3.5% or something, and to tell you the truth that number has never impressed me with accuracy. Labor force participation tells a more nuanced story than simply who has been laid off of late.

You can see the participation rate has been headed down overall for a long time, but finally black and white men are at the same place. I haven’t heard of anyone drilling down into the numbers to say why this good news is occuring, and I’m sure people will offer up ideas, but for now I’m just glad it’s happening.

People coming off the sidelines to work will mean fewer people for more jobs, eventually I’d hope wages will increase relative to inflation.

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