Latest / The Macro Memo with Fexingo: Daily Conversations on Inflation, GDP, and Federal Reserve Policy
Why the Labor Force Participation Rate Is Plummeting Again
In this episode of The Macro Memo, Lucas and Luna dig into the surprising drop in the U.S. labor force participation rate, which hit its lowest level since the 1970s outside of COVID. They connect the dots between the June payrolls miss of just 57,000 jobs and the 4.2% unemployment rate, questioning whether discouraged workers are permanently exiting. The pair also examines the divergence between falling participation and still-elevated job openings at 7.6 million. A tight, data-driven conversation about what the shrinking workforce means for Fed policy and wage growth as we head into Q3…
The skinny
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