NY Times: Recent U.S. Economic ‘Progress, in Fact, Is a Mirage’

by Jim Geraghty

The New York Times notices a phenomenon of the labor market, in the context of why Democrats aren’t benefiting more from what they contend is a long-awaited recovering economy:

While the number of women out of work appears to be much improved, the number of women employed compared with the total female population is 55.2 percent, actually worse than it was in October 2010. Progress, in fact, is a mirage, the product of what economists call the disappearing work force: people giving up and dropping out.

This is not news to many of us. You may recall my video from (gasp) five years ago, discussing the rise of the “discouraged workers” not showing up in the official unemployment rate because they had stopped looking for work.

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