Labor Participation Rate- Even HUFFPOST Figures It Out!
The labor participation rate fell to 66.3 percent it’s lowest level in 34 years! Even the Huffington Post has figured out that this is a structural unemployment problem.
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Unemployment Today is Structural Unless Cyclical Means
The reason everyone wants to describe our current unemployment situation as cyclical just might be because ‘cyclical unemployment’ is cause agnostic. Cyclical unemployment is defined as just “the deviation of unemployment from its natural rate.” The reality might be that the cycle is “40 years of failure in public education, undermining the family as a social building block, and extremist positions on the social safety net that keep job seekers at home instead of job seeking.