Looks like it’s a lot harder to get into the labor force than it used to be!
There are 92mn people who are not in the labor force. And as the chart on Friday showed about 4.4mn of these found a job in January, up from 3.6mn in December. The best explanation we have is still the removal of emergency unemployment benefits (one family member losing benefits forces another to take a job). Also, see how the slope of the line below got steeper when the crisis hit in 2008; for the past five years we have been adding 2mn people per year to Not in the labor force.
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