More able-bodied men are sitting on their duffs …
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The November jobs report in a nutshell: 160k jobs added, but … the adult population increased by 219k and the civilian labor force contracted by 226k … so, the labor force participation rate dropped again.
It’s no secret that the Labor Force Participation — the % of able bodied adults who are employed or looking for work — has dropped about 4-1/2 percentage points from pre-financial crisis levels … and continues to fall.
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The economy-is-doing-just-fine crowd chalks the declining rate to demographics – old-timers retiring.
In prior posts I’ve attributed about 1/3 to retirees … the rest to slackers.
To that point, let’s cut the data a different way …
The Homa Files 