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Suppressing Employment, the Biden Way June 4, 2021

Posted by geoff in News.
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The news is abuzz with the tidings of the miss on employment (pundits were expecting 650K new jobs, but only 559K were added), but I thought this other little factoid was interesting. Look at the % of people who are employed (chart generated by the BLS site):

Nice steady increase in the % of the population that’s employed until COVID hit, when employment plummeted. But let’s zoom in on that period from January 2020 (just before COVID-19 blew up the economy) through last month:

Yeah, we were rebounding nicely until the election, upon which the curve goes essentially flat. This, despite the huge progress in vaccination and the reopening of many states.

The suppression of the recovery in employment suggests, if not trumpets, that the current administration’s policies are somewhat misguided.

Comments»

1. Jimbro - June 4, 2021

A word we’ll be seeing more often in these announcements is “unexpectedly”. The other thing is revisions made a week or two later in a stealth fashion.

2. Bunk Strutts - June 5, 2021

But people are much happier now. They’re just hiding it.

3. lumps - June 7, 2021

Bringing back Obama’s ‘Funemployment!’ Remember that?

4. Biden Makes No Progress on Employment Participation | Innocent Bystanders - July 3, 2021

[…] Last month I showed y’all a plot from the Bureau of Labor Statistics, which illustrated how the recovery in labor participation had remained flat ever since Biden was elected. Here’s this month’s update, again from the BLS, which shows that nothing has changed: […]


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