Friday, January 10, 2014
L-Shaped Recovery Graphs
This is the only reason the friendly-to-the-government unemployment rate (see below) has gone down. People who have left the work force don't count as unemployed.
Some of this increase is the Baby Boom retiring, but mostly it's laid off workers failing to find a job, giving up and leaving the labor force.
Labels: L-Shaped Recovery
Check it out.