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The U-3 rate does not include those that drove for Uber one hour in the month. The gold standard metric is labor participation rate of white men over 20, and th

The U-3 rate does not include those that drove for Uber one hour in the month. The gold standard metric is labor participation rate of white men over 20, and that's not looking good: https://fred.stlouisfed.org/series/LNS11300028 https://fred.stlouisfed.org/series/LNS11300028

gruez 6mo ago
>The gold standard metric is labor participation rate of white men over 20 "gold standard"... according to whom? Economists? Internet commentators? White nationalists?
- HarryHirsch 6mo ago
  Economists, of course - the confounder of discrimination is absent here. Recall: if something appears weird in the US, it's usually due to slavery.
  - gruez 6mo ago
    >Economists, of course For what? "labor participation rate" or "labor participation rate of white men over 20"? The former is regularly cited, but the latter seems like a contrived statistic to make a point.
    - rayiner 6mo ago
      It’s not a contrived statistic. It’s a way to look at the fundamentals of the economy in a way that’s not confounded by the distinct effects of immigration, etc.
      - oa335 6mo ago
        But it is confounded by demographic changes… namely the aging population.
gilbetron 6mo ago
That's because there are fewer white men because white men (and women) are the ones that are returning from the Baby Boomer era. https://fred.stlouisfed.org/graph/fredgraph.png?g=1T9dv&height=490 https://fred.stlouisfed.org/graph/fredgraph.png?g=1T9dv&heig...
forgotTheLast 6mo ago
That's skewed by the number of retirees, which naturally increases in an aging population like white US men.