Question from my good friend JJ:
Thank you! Always love reading your blog. Regarding unemployment are there any studies you are aware of that tells us how many people are out of work but their unemployment payments have run out? It seems they drop off the radar?
It’s a great question and here is a graphic of the answer which is called the Labor Force Participation Rate:
As you can see, the number of people who can but are not in the “labor force” is at a multi decade low. If you are out of work and have not actively looked for a job in the LAST 30 DAYS, you are magically teleported from “unemployed” to not in the labor force anymore. All I can say is what a farce and total manipulation of the numbers.