I went back two years. As the chart above shows, the total employees are basically at Jan 2020 levels, labor force is lower, but recovered somewhat (its going lower long term no matter what we do - unless we increase immigration like we should) so I’m not quite certain WTF you mean by participation ‘in the toilet’ and that the ‘workforce has shrunk dramatically’.
That's your definition of a toilet... 1% lower than prior to the pandemic.
I'll go even further:
So, if you understand that, why post with such negativity directing your scourge at Pres. Biden and the Biden Administration? Moreover, the FoxNews article makes it clear that despite GDP being at 1.6% at the end of the 2QCY2022/3QFY2022 with "back-to-back declines in growth" two consecutive quarters which "technically meets the technical criteria for a recession", it's too early to really make that call since other economic indicators, such as consumer spending and low unemployment, remain relatively high.
Lol can’t even make one post without whining about how spamming the same garbage over and over isn’t compelling.
Final GDP reading shows US economy shrank 0.6% in the spring, cementing start of recession
The Commerce Department said its final reading of second quarter gross domestic product data on Thursday shows the economy shrank 0.6% in the spring, indicating the start of a recession.www.foxbusiness.com
Had a great vacation so thanks for asking. Had plenty of time to think after finding out that posting data wasn't going to change any minds therefore the new improved me will bypass the data as it ticks off too many people here with an agenda and will focus solely on replying to opinions with those of my own although this OP does destroy the liberal narrative about the Biden economic policies and results. Liberal economics and liberal opinions have created a cult like mentality as it doesn't matter what the results are it is the D that matters. We all know that those working for the current Administration, in need of massive taxpayer support, those not paying any FIT yet benefiting from taxpayer funded programs are going to vote for the D regardless of policies. The old adage that you "don't bite the hand that feeds you" has proven to be effective and successful election strategy thus buying votes normally creates successful election results. We will see if this holds true at the Midterms in light of the US now in a recession.
You raised the issue of Ukraine as being partially responsible for the recession, Ukraine was in 2022 not 2021 when the problems with our economy started
The last checks were in March 2021, 17 million jobs returning between April and January and the economy was recovering, the checks were unnecessary and most people recognize that but those cult followers never will. I don't have to do a thing to undermine the current administration as their policies are doing that. Amazing how all this time you cannot post a Biden success. I don't create division as that is left to the left as that is the only way they win elections
Tell that to the American people on fixed income and seniors!
No, Conservative is pointing out again the failure of liberal economic policies and the reality that in order to get votes they have to be bought by the left with taxpayer funded benefits
And naturally you conveniently avoid mention of the global effects of Covid, the consequences of which are adding to fuelling our recession
Why can't I find a Biden supporter posting official verifiable data and positive results? Itching to get back to liberal bashing? Liberals don't debate they troll, liberals only support opinions and rhetoric never talking about policies and results. More concrete data? Why don't you post some supporting liberal economics?
And you conveniently ignored the returning jobs, recovering economy and believe what the left tells you. I gave you specifics about the US economy and the major component, you still don't get it and probably never will. Why don't you explain your loyalty as a European and passion for Biden?
I think what will be interesting is the push back from other economists on the Fed's aggressive policy that focuses on inflation reduction with the clear possibility of there being consequences that affect employment and the possibility of recession. Whether or not the push back is enough to change the direction of the Fed and other central banks remains to be seen.
I can’t post a Biden success? Did you even ask? Ask and ye shall receive.
You are in recession, inflation is rampant. It has ZERO to do with Biden, no matter how much you wish it did.
Most economists aren't on fixed income, most economists aren't affected by the Biden inflation, most economists don't represent the views of the American people. the polls are quite clear, the results are quite clear, the only problem appears to be supporters of Biden who are economics and civics challenged
According to you but then again someone who lives in a country whose GDP is 50% gov't spending has no clue as to what happens in this country with high inflation and interest rate hikes on an economy that is 2/3 consumer spending
You can start here with the Biden successes that aren't being felt by the American people. Your loyalty seems to be to the D regardless of what the D does or represents today
There was an analysis conducted by the San Francisco Fed which assessed the risk of inflation was there, but the risk of recession was an even bigger concern due to the difficulty in managing a recession. Of note, is that both the former and current presidents were pushing for the last stimulus package.
That is because the US economy isn't built on gov't spending but rather consumer spending plus the fact that Red states reopened faster than blue states. The problem however continues to be massive gov't spending in 2021 into a returning job market and recovering economy fueling inflation which is now causing interest rate increases that affect consumer spending and consumer pocketbooks. 2/3 of the US economy is consumer spending and Americans suffer more with high inflation that the world
Our newly un-elected conservative 'government' has decided that taxing and spending its way out of recession, and by borrowing $45 billion is a great idea, which the Labour ('liberal') Party is strongly critical of. What were you saying about liberal economic policy?
