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I believe the technical economic term is “discouraged workers”. Someone correct me if I’m wrong. This is a useful resource on aspects not included in the unemp
by alexwhb 3y ago
I believe the technical economic term is “discouraged workers”. Someone correct me if I’m wrong.
This is a useful resource on aspects not included in the unemployment metric: https://www.investopedia.com/financial-edge/0609/what-the-unemployment-rate-doesnt-tell-us.aspx#:~:text=Workers%20who%20have%20given%20up,or%20a%20full%2Dtime%20one https://www.investopedia.com/financial-edge/0609/what-the-un....
- xnx 3y agoAh, thank you. Found some useful links here: https://www.bls.gov/cps/lfcharacteristics.htm#discouraged https://www.bls.gov/cps/lfcharacteristics.htm#discouraged Seems like this measure of discouraged workers is down over the past 10 years: https://data.bls.gov/timeseries/LNS15026645 https://data.bls.gov/timeseries/LNS15026645
- alexwhb 3y agoI now remember what metric I was thinking of… participation rate. There was a charter data storytelling post about it a while ago that I’m not able to find. But apparently participation rate on the workforce are down. I don’t remember what time scale. But I believe that metric includes discouraged workers as well as people who have retired. But I believe the angle the article I read was talking was a post pandemic look… like lots of people retired early. I believe this has those numbers.. https://www.bls.gov/news.release/empsit.t01.htm https://www.bls.gov/news.release/empsit.t01.htm Here’s a chart: https://www.bls.gov/charts/employment-situation/civilian-labor-force-participation-rate.htm https://www.bls.gov/charts/employment-situation/civilian-lab... I think this metric, like unemployment, is obviously nuanced and also could be showing an aging demographic and other such subtleties.