While many have been hopeful of an American economy returning to normal as soon as humanly possible, the past ten months of the Biden regime has been cited by many as the main fundamental reason for this hope being dashed. While the latest jobs data gave markets hope by posting a very respectable headline figure, that figure apparently hides some concerning details with regards to the true health of the American economy and society.
According to the Bureau of Labor Statistics itself, the American economy showed signs of strength last month when it hired an extra half a million people or so. However, the labor force participation rate, which tracks the percentage of the working-age population that is actively looking for work or is currently working, was a paltry 61.6 percent for the month of October.
According to The Epoch Times, the labor force participation rate has tracked a fairly narrow band between 61.4 and 61.7 percent since June of last year, after tumbling from 63.3 percent in February of 2020, the last full month before lockdown measures were introduced.
