Participation rates or employment-population rates are my go-to for judging the economy, since the headline unemployment number deliberately undercounts millions.
It should be COMMON SENSE that the 2008 cliff-dive in employment-population was not caused by gradual changes in demographics.
It should be COMMON SENSE that boomers who saw their retirement savings take a hit in the 2001 and 2008 recessions did not win the lottery and retire early. To the contrary, they're working longer to make up for inadequate retiremnent funding, as your charts illustrate.
Thanks for the excellent data analysis, Robert.
Participation rates or employment-population rates are my go-to for judging the economy, since the headline unemployment number deliberately undercounts millions.
It should be COMMON SENSE that the 2008 cliff-dive in employment-population was not caused by gradual changes in demographics.
It should be COMMON SENSE that boomers who saw their retirement savings take a hit in the 2001 and 2008 recessions did not win the lottery and retire early. To the contrary, they're working longer to make up for inadequate retiremnent funding, as your charts illustrate.