Comment Re:Probably people entirely disillusioned (Score 1) 65
The labor participation rate has been trending down since the middle of 2000 when it peaked at 67.3. It dropped to 65.8 at the beginning of 2005, worked it's way back up to 66.4 after 2 years then started trending down until dropping to 66.1 by August of 2008. After which it fell off a cliff and continued dropping to 62.4 by 2015. It worked it's way back up from there to 63.6 until February 2020. Then Covid tanked the economy and we hit an all time low of 60.1 in April of 2020. It rebounded to 62.8 by November of 2023 and has continued the downward trend since.
The same labor participation nonsense was used after the 2008 crash as well. December 2023 it was at 62.5. It was at a post Covid high of 62.8 in November 2023. So I don't know why TFA chose December 2023. The last time it was this low was March of 2021. Outside of Trump's first term the participation rate hasn't been above 63 since 2014 and was on a 14 year downward trend by that point. The fact that it hasn't changed by more than 1.5% in the last 14 years isn't as concerning as the trend for the last 26 years.I don't recall anyone going crazy when the labor participation rate went from 65.7 in January 2009 to 62.5 by October 2015.
The reality is is that there hasn't been a roaring economy since before the dotcom bubble burst.