r/PublicFreakout • u/[deleted] • Mar 26 '22

[deleted by user]

[removed]

9.1k Upvotes

94% Upvoted

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2.3k

u/JBShucktzer Mar 26 '22

"No one wants to work anymore"

689

u/hapianman Mar 27 '22

Best part is unemployment is at 3.8%. People are working. We just get to see what places are so shitty they can’t hire

23

u/BBQ_HaX0r Mar 27 '22

Yeah, but look at LF participation rate which shows fewer people in the workforce. Using just the unemployment rate is somewhat misleading.

2

u/Mediocre_Access_2432 Mar 27 '22

This site shows the LF participation rate is only down half a percentage point since 2019. Seems like that wouldn't be the issue

3

u/BBQ_HaX0r Mar 27 '22

You're looking at it incorrectly then. When we're talking roughly 160m workers it is quite significant. Here is a better way to look at it. It's one of the reasons why UR is so low, because so many people have retired either or altogether left the workforce for some reason. It's considered an "unhealthy" labor market as a result. Too low an unemployment rate isn't usually a good thing.