Is the idea that it suddenly tips?
https://fred.stlouisfed.org/series/LNS11300001
For women, since about 2000: https://fred.stlouisfed.org/series/LNS11300002
https://fred.stlouisfed.org/series/LNS11300060
The shape is the same, with a peak at ~1999.
There is a large difference between the labor force participation rate and the unemployment rate because the LFPR can’t be gamed. A stark way to think about it is to consider that, if every person currently looking for work were to fail to such an extent that they just gave up, the unemployment rate would drop to zero.
Using your preferred metric, we have about the same LFPR we had in 1980. It has gradually varied since then between about 81% and 85%.
> The shape is the same, with a peak at ~1999.
The trend is up since 2015, apart from the Covid dip.
Automation and AI have not had a dramatic effect yet on LFPR. Maybe there's a tipping point to come.
How many appliances do we build to last for a few years and then break? How many economic resources could we save by building fewer products to last longer? If the economic engine were tilted towards quality rather than churn, we could be much more efficient about our use of resources.
Durable products would be nice.
Energy crisis in Europe is entirely man-made because, as I said, we are shitty.
Curse autocomplete/swipe keyboards
The entire time, automation people like Yang have been claiming unemployment was already happening, and yet it was constantly going down. Unemployment in the US is now lower than it’s been in decades.