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What's Behind the Sharp Drop in Labor Force Participation?

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Re: What's Behind the Sharp Drop in Labor Force Participation?

#21
post #9

Anecdotal evidence, but more than half of my friends that grew up: 1. middle upper class 2. college educated at a top 75 college 3. tall, decent looking are just not working regular corporate 9 to 5s and get by with consulting, small businesses, living off parents, living off nothing, scammy startups w2 9-5 is straight up not worth it, even in the 150-300k range

If 150k to 300k isn't enough for someone, they need financial therapy

Re: What's Behind the Sharp Drop in Labor Force Participation?

#22
post #9

Anecdotal evidence, but more than half of my friends that grew up: 1. middle upper class 2. college educated at a top 75 college 3. tall, decent looking are just not working regular corporate 9 to 5s and get by with consulting, small businesses, living off parents, living off nothing, scammy startups w2 9-5 is straight up not worth it, even in the 150-300k range

I previously worked at government job, a regional water company. Was on the fast track to become the AD and then CTO in the 5-10 year range as the entire upper echelon was on the verge of retirement. Except my salary would be capped at $150k as the CTO.

The CTO himself owned a home a couple blocks off of the beach in one of the most desirable ZIP codes in my state. I, myself, best I could hope for on that salary is a plywood DR Horton house 20+ miles upriver in a neighborhood that gets robbed weekly by “Kia Boys.”

What was once a very desirable, very secure job became a joke thanks to failing wages and rampant inflation. Best-worst option was a remote job for a mid-salary and move to the sticks, pay off the house fast, and try to coast that remote lifestyle as long as possible.

Re: What's Behind the Sharp Drop in Labor Force Participation?

#24
post #15

> Still, this rate merits carefully watching in coming months; a continued decline may signal a deeper change in the behavior of workers in this critical age group. I know I'm speaking from a rather (somewhat) privileged position. I myself don't consider working beyond 50 years of age. I have lived frugally/minimally and am confident that (unless WW3 happens or some sort of unexpected global catastrophe arrives) I ca…

I bailed out at 50 while fully employed and making a ton of money in big tech - I was not laid off, I simply let my manager know, found a replacement and walked away. I have kids but I saved enough for healthcare, housing etc. I worked my ass off and lived very frugally to get here. Yes, I would be screwed if WW3 comes along, but who wouldn't? That comfy Big Tech job would vanish pretty quickly too. I have no desire…

I salute you!

I just turned 50, but I never feel I can pull the trigger. The only thing really keeping me from doing it is the cost of health insurance. I've got 15 years before I can get on Medicare, and 15 years of privately purchased health insurance for the family is just not do-able.

Re: What's Behind the Sharp Drop in Labor Force Participation?

#25
post #21
post #9

Anecdotal evidence, but more than half of my friends that grew up: 1. middle upper class 2. college educated at a top 75 college 3. tall, decent looking are just not working regular corporate 9 to 5s and get by with consulting, small businesses, living off parents, living off nothing, scammy startups w2 9-5 is straight up not worth it, even in the 150-300k range

If 150k to 300k isn't enough for someone, they need financial therapy

Try raising a classic family of three with a stay at home spouse in that salary in any metro. You will quickly learn how fast those dollars disappear.

Somehow my grandfather did this as a painter.

Inflation is a killer.

Re: What's Behind the Sharp Drop in Labor Force Participation?

#26
post #21

Earlier quoted context omitted.

If 150k to 300k isn't enough for someone, they need financial therapy

Try raising a classic family of three with a stay at home spouse in that salary in any metro. You will quickly learn how fast those dollars disappear. Somehow my grandfather did this as a painter. Inflation is a killer.

Only if you're trying to keep up with the Joneses.

Re: What's Behind the Sharp Drop in Labor Force Participation?

#27
post #26

Earlier quoted context omitted.

Try raising a classic family of three with a stay at home spouse in that salary in any metro. You will quickly learn how fast those dollars disappear. Somehow my grandfather did this as a painter. Inflation is a killer.

Only if you're trying to keep up with the Joneses.

Nope! We live very conservatively. Turns out life is expensive.

Re: What's Behind the Sharp Drop in Labor Force Participation?

#29

Earlier quoted context omitted.

[flagged]

@dang this gets brigaded? It goes in the lawsuit.

Organic downvotes at human speed are fine.

GP getting flagged at machine speed?

Nah dawg. That's a hard no.

Edit: oh gee willicker. I completely forgot to mention I chart all of this. I don't even need an HMM. XGboost prints the fucking switch statement.

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