Dak
mentat
My point is that CIG was talking about unemployment. You mentioned labor participation as though they're interchangeable.
They aren't. But his concerns are related to the LFPR and that's the number he was thinking of that was so bad. It's not interchangeable and both numbers provide different yet valuable information. The problem is when people cite the unemployment number as evidence that everything is ok. The LFPR wouldn't be a problem in itself (obviously we don't necessarily expect 16-18 year olds to "carry their own weight"), but given the current "econopolitical" situation, such a low LFPR figure with projections of decline are troubling.