The labor force participation rate has now fully recovered to its pre-pandemic peak

[LetMyPeopleVote]

Link to tweet

[Chainfire]

1. Well, I guess the next thing that you will tell me is that the Republicans lied about people

not wanting to return to work.

[Ms. Toad]

2. Not the labor force - approximately 50% of the labor force

Those in the mid-range of the workforce

And that particular age range did not significantly decrease during the peak of the pandemic - a drop of 3%. (Omitting the bottom 79% of the labor force particiation makes the change seem much larger than the jagged graph suggests.)

A significant portion of the drop in workforce participation are folks like me who retired early. Many of us have not returned (still down 2% from pre-pandemic). The under 25 group is also still down (1%)

[Laura PourMeADrink]

4. Surprised 50% of labor force over 54 or under 25. Dont

doubt it, just surprised

[Ms. Toad]

5. I was thinking of the years during which people work

starting ~ 18 and continuing to 65-70. The statistic addressed only the middle years, when it is those older 54 and below 25 who were both impacted most, and are continuing to be impacted (particularly those of us in the older range - who left and to a larger extent have not returned).

As a quantity, about 63% of the workforce is in the age range covered by the statistic.

[Laura PourMeADrink]

6. Makes sense. But If we just talk about the young. It's interesting

Because everything you read says businesses can't find entry level employees. And young people seem to have zero fear of covid.

[Ms. Toad]

8. It may relate to a recognition that businesses can pay more.

Both places my daughter worked during the pandemic paid more (in different forms). The hourly rate increased at one place (AND people were paid even if they chose to stay home). In the other they were given more unpaid time off AND more paid time off.

Young folks can better afford to be "starving artists," for a lot of reasons (fewer family responsibilities, more willingess to live as nomads, etc.), and may have decided that they just aren't willing to work for what companies are now paying for those positions. People in the 25-54 age range more often have families, student loans, house payments, kids to put through college, etc. Since those of us at the end of our working life had, to some extent, decided to leave the rat race that makes more positions at the top of the work heap available (so there is less need for those in the middle to move downhill in the workforce). Which leaves not enough bodies to staff the entry level jobs.

[NowISeetheLight]

3. Numbers Are Low

When you look at the actual numbers the unemployment rate over 24 is very low.

https://www.bls.gov/web/empsit/cpseea10.htm

[Laura PourMeADrink]

7. But will rise as participation rate rises, right? Labor

force = employed + unemployed.