Biden Makes No Progress on Employment Participation

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:

You can refer to the earlier post for a view of a longer timeline.

Biden tells us that Milton Friedman is no longer the boss of him. But Biden and his administration will always be subject to the basic principles that everybody save Modern Money Theorists understand:

If you pay people to stay home, they stay home. And if you print money to pay for them to stay home, you get inflation.