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Headline cropped. It's the lowest participation rate "outside the Covid era". Original headline: "Job seekers giving up: Labor force participation rate falls to lowest in 50 years, outside of the Covid era "
Sounds more like people retire somewhat early - for 25-54yo labor force participation near all time high: https://fred.stlouisfed.org/series/LNS11300060 And here is one for 55+yo: https://fred.stlouisfed.org/series/LNS11324230 All is fine
> However, in June the biggest plunge came from what is defined as “prime age” workers, or those between the ages of 25 and 54. That rate fell 0.6 percentage point to 83.3%, its lowest since December 2023. It's great how two sources can tell a completely different story about the same numbers.
That should already make you skeptical, and after looking at the chart, I'm more on side "all is fine" than the doom narrative the article is pushing.
The money printing during COVID screwed everything up. Most of the capital was directly given to banks and businesses, fraudulently in many cases and unnecessarily in most, and everything pooled up into real estate and stocks so anyone who had already owned a large proportion of those became absurdly wealthy in the span of a couple years and everyone else effectively lost 20-30% of their income through inflation. The…
> The capital was either directly given to businesses, fraudulently and unnecessarily in many cases Especially concerning when a bunch of politicians were in on it, ensuring that the money went out willy-nilly and that $700+ billion in "loans" were turned into a straight up gift from the taxpayers. https://www.citizensforethics.org/reports-investigations/cre... https://fortune.com/2020/07/08/ppp-loan-recipients-membe…
Wasn't that widely understood during the pandemic? All the coverage I've seen mentioned that the loans for forgivable if certain criteria were met, and nobody was like "yeah it's fine because it's a loan!".
The money printing during COVID screwed everything up. Most of the capital was directly given to banks and businesses, fraudulently in many cases and unnecessarily in most, and everything pooled up into real estate and stocks so anyone who had already owned a large proportion of those became absurdly wealthy in the span of a couple years and everyone else effectively lost 20-30% of their income through inflation. The…
You get the money back the same way Roosevelt did, 94% tax rate on the rich.
Sounds more like people retire somewhat early - for 25-54yo labor force participation near all time high: https://fred.stlouisfed.org/series/LNS11300060 And here is one for 55+yo: https://fred.stlouisfed.org/series/LNS11324230 All is fine
The money printing during COVID screwed everything up. Most of the capital was directly given to banks and businesses, fraudulently in many cases and unnecessarily in most, and everything pooled up into real estate and stocks so anyone who had already owned a large proportion of those became absurdly wealthy in the span of a couple years and everyone else effectively lost 20-30% of their income through inflation. The…
You get the money back the same way Roosevelt did, 94% tax rate on the rich.
https://www.economist.com/content-assets/images/20260221_IRC...
https://www.economist.com/content-assets/images/20260221_IRC...
Earlier quoted context omitted.
> The capital was either directly given to businesses, fraudulently and unnecessarily in many cases Especially concerning when a bunch of politicians were in on it, ensuring that the money went out willy-nilly and that $700+ billion in "loans" were turned into a straight up gift from the taxpayers. https://www.citizensforethics.org/reports-investigations/cre... https://fortune.com/2020/07/08/ppp-loan-recipients-membe…
>ensuring that the money went out willy-nilly and that $700+ billion in "loans" were turned into a straight up gift from the taxpayers. Wasn't that widely understood during the pandemic? All the coverage I've seen mentioned that the loans for forgivable if certain criteria were met, and nobody was like "yeah it's fine because it's a loan!".
And then these loans were just forgiven. And since they went to businesses, Republicans are completely silent about that.
See: https://en.wikipedia.org/wiki/Paycheck_Protection_Program
Today I read about Accenture Norway taking in 56 summer internship students from over...1600 applicants. Record year, they reported. Previously I imagined only the top-top tier firms could enjoy low single-digit acceptance rate, but here we have Accenture crushing it. Competition must be tough. (But for what I know, could be that AI has made it easier for people to spam everyone with applications)
