Labor Force Participation
Still far from pre-pandemic conditions
Many market and economic metrics have returned to a pre-pandemic level or trend but one glaring exception is the labor force participation rate:
This is a great metric to analyze on a more granular basis as well, where we can see a wide range (55% - 70%) of participation depending on the state:
Here are the top ten states:
And here are the bottom ten:
Also, we can consider momentum. For example, Florida, which is one of the bottom ten states, has shown a huge increase in participation over the last three months:
Labor shortage is a big topic these days and the picture is complex. Whether there will be a return to pre-pandemic conditions or not is an open question. If there will be a return, there sure is a long way to go and a lot of varied nuance in the details.
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