Daily Databite: We're working, we're spending
We're making more, but spending even more, and things are still confusing
Random Walk is here to put the sunshine in your coffee with some charts. It’s supposed to be short, but well, there’s just a lot to learn.
Put me in coach, I’m ready to play
As a reminder, the workforce is “secularly” tight, in that we simply have fewer workers than before (as a share of the whole):
The share of “in the labor force” workers is creeping slightly higher as new arrivals arrive, people un-retire, and/or otherwise decide they need or want to be working.
The prime-age participation rate (i.e. the share of working age people who work) is at it’s peak, however:
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