U6 Unemployment in the USA 9.8% is all you need to know, still, nearly 7 million people are NOT in the labor force than were in, Jan 2020.
Since 2007, US full-time jobs are +4 million with a population +32 million. This is one of the MOST important macro-political economic facts that exist today, with colossal implications.
cc @carlquintanilla @andrewrsorkin @elerianm @nfergus @Neil_Irwin @gilliantett @DougKass
cc @carlquintanilla @andrewrsorkin @elerianm @nfergus @Neil_Irwin @gilliantett @DougKass
The easy answer nearly EVERYONE falls back on is the aging population, retirement - demographics. It is an important piece of the puzzle but hides a dark picture. In June 122,000 persons, 25 to 34 years of age left the labor force.
USA: We have lost 6 million full-time jobs since 2019, and in June we actually lost more, FACT. The pandemic is replacing higher-paying full-time jobs with lower quality employment, massive impact on FOMC, future tax receipts. See rates, gold, USD.
Over 48% of small businesses surveyed have an open position they’re unable to fill. “We’re far beyond the average tight labor market, and it’s only getting worse,”
National Federation of Independent Business.
National Federation of Independent Business.
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