17 Jun 2022 5:43 am
Unemployment is at a record low because more and more people are leaving the workforce. The labor force participation rate is a broader measure than the unemployment rate. It measures the percentage of Americans 16-and-over who are employed or actively looking for a job.Monderegal » 16 Jun 2022, 9:12 am » wrote: ↑ Anyone living through high gas prices and the price of just about everything going up would falter the Biden administration. Yet, unemployment is at record lows and incomes have nearly doubled for the bottom 50%. Is this the reason for the inflation? From my understanding, oil companies are making record profit as are businesses raising prices. Link to Bloomberg article here. Perhaps the bear economy is backlatsh? That does sound a little conspiracy theory like but the inflation seems to be more of a behavior than an economic necessity.
It climbed very slightly last month to 62.3 percent, up from 62.2 percent in April, but it still has a way to go to get back to “normal” pre-pandemic numbers. In February of 2020, the last month before the pandemic, the labor force participation rate was 63.4 percent.
The increase (INFLATION) in the price of fuel and food is outstripping wage gains!!!
And YES, braindead biden's socialist policies and anti-fossil fuel crusade is to blame!!!