Pundits have been claiming that the dropping unemployment rate is due to dropping labor force participation, which in its turn is due to geezers (and near geezers) quiting work.
Wrong. Here's the BLS data and note that the geezer end of the table is increasing. One can't live on Social Security, and there's no pensions to be had any longer. And, here's this months data. Note that the overall PR is below the geezer actuals from the first table.
All those young slackers.
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