To return EPOP to its level of 2 years ago, we'd need 5.7 million Americans newly employed.
Over same time, number of Americans out of the labor force increased 4.7 million.
Among them, those who "want a job now"⬆️ 1.1 million and who do not ⬆️ 3.6 million.
Over same time, number of Americans out of the labor force increased 4.7 million.
Among them, those who "want a job now"⬆️ 1.1 million and who do not ⬆️ 3.6 million.
What age groups account for the +1.1 million who are out of the labor force and want a job now?
Prime-age Americans (25-54) account for 61% of the increase, young adults for 24%, and Americans 55+ only for 14%.
Prime-age Americans (25-54) account for 61% of the increase, young adults for 24%, and Americans 55+ only for 14%.
What ages account for +3.6 million out of labor force & not wanting a job now?
Increase in the number of older Americans (55+) in this group accounts for 89% of its rise.
Number of young folks in the group actually ⬇️326K.
Early retirements? COVID concern? Grandkid care?
Increase in the number of older Americans (55+) in this group accounts for 89% of its rise.
Number of young folks in the group actually ⬇️326K.
Early retirements? COVID concern? Grandkid care?
One can also see the splits by gender. Men and women contributed pretty equally to the rise in NILF + Do Not Want A Job Now, 48% vs 52% respectively.
But the rise in NILF + Want A Job Now is 69% driven by women and only 31% by men.
But the rise in NILF + Want A Job Now is 69% driven by women and only 31% by men.
The @uscensusbureau #HouseholdPulse started after pandemic & asks people if working for pay or profit &, if not, main reason.
It's suspicious bcz it disagrees with BLS surveys abt the total change over year in not-working population by a lot. HHP: -370K. BLS: -6 million ish.
It's suspicious bcz it disagrees with BLS surveys abt the total change over year in not-working population by a lot. HHP: -370K. BLS: -6 million ish.
But still, change in number of people saying main reason they are not working provides some evidence. Saying bcz:
Retired: +5.2 million over year.
Caring for kids not in school or daycare: -1.3m
Sick (not corona related) or disabled: +0.6m, may include long-COVID disabled.
Retired: +5.2 million over year.
Caring for kids not in school or daycare: -1.3m
Sick (not corona related) or disabled: +0.6m, may include long-COVID disabled.
Other reasons fell a lot. This includes categories like, my employer went out of business or is temporarily closed due to pandemic or I was laid off or furloughed due to pandemic, as well as just Other.
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