Originally Posted by Prison Bitch
For the small percentage of people who are aware that the purported decline in unemployment rates is primarily based on the mysterious rapid decline in "labor force participation rates" rather than the number of new jobs, the government has a ready and sensible-sounding explanation: the Boomers are beginning to retire in large numbers, and with an aging population, the percentage of adults who are in the workforce should logically be declining.
Based on in-depth analysis of the government's own numbers, we will present herein the true picture: 74% of the jobless who have been removed from unemployment calculations are in the 16-54 age bracket, with only 26% in the 55 and above bracket.
Yes, the population is aging - but the heart of the workforce participation deception isn't about the old.
Just read his argument and it's garbage. There is no mysterious decline in the labor force participation rate. We know it is going to trend down for the foreseeable future due to boomers leaving the workforce.
This guy has zero understanding (or is intentially leaving it out) of how and why the BLS adjusts certain things.
And he's an inflationista/gold bug.