American Employment Rates Have Fully Recovered From the Pandemic—But We Shouldn't Stop Here
Hard-to know factoids, graphs and data are just wonderful Joseph and thank you very much for your research. I am hopeful that we can get thru this without too much recessionary pain!
I’m curious where, in normal working ages, the difference between the US and our peers lies. Is it across the board? Is it in the earlier years, perhaps reflecting longer stays in college and greater childbirth and child-rearing? I’d be surprised if it was as the end, given that our peers typically have earlier, not later, retirement ages. Though perhaps the combination of disability and early-retirement programs could do that. If this was addressed in the piece, I missed it, so apologies in that case!
“Today, three short years after the first spike in unemployment caused by the COVID-19 pandemic, American prime-age employment rates have fully recovered and even exceeded 2020 levels.” Indeed: historic and quite the accomplishment! Thanks for the great analysis.
Given the difficulties with child care, it is surprising that the participation rate for prime age women is at that 2000 high. How much is driven by the workers’ need to pay bills and how much is driven by employers need for labor and being more accommodating to worker demands?