It's no wonder there are so many jobs available. The pandemic caused millions to go into early retirement. Other than a mild recession at some point, jobs should be more than plentiful for the rest of this decade. There's also been a big wealth transfer from an excess of elderly deaths, so their children and grandchildren have some more money to use now too. I say better their family get it than the healthcare systems rape the life savings of the elderly, which is EXTREMELY common in normal times.

https://www.marketplace.org/2023/03/...e-labor-force/


"Last week, the Federal Reserve delivered a report to Congress on why the labor market is still so tight and why it will not return to pre-pandemic levels.One key factor is excess retirements. Right now, 2.2 million more people are retired than the Fed had expected.

There are literally millions of personal stories about why older workers retired earlier than planned during the pandemic. They were scared of contracting COVID at work. They cashed in on the hot housing market and record-breaking 401(k) plans. They took a buyout package, or they were laid off.

Teresa Ghilarducci, a labor economist at the New School for Social Research, said coaxing them back to work would help companies that face labor shortages.

Also, some retired workers just don’t want to come back.

“If you’re in your 60s and you’re treading water for three years, can I just count you as retired?” said Alicia Munnell, who directs the Center for Retirement Research at Boston College. “We’re getting to that point.”

Three years is a lot of working life. So, if someone retired early, they may have simply hit their planned retirement age. In reality, these 2 million-plus excess retirements shouldn’t be that shocking, per Kathryn Edwards, a labor economist at the Rand Corp. Retirement rates have been increasing as baby boomers age.

“Rather than incremental, it was a large exodus from the labor force of people who were going to leave pretty soon anyway,” Edwards said. “This story is genuinely about 30 years of labor force trends that we have been very slow to see. And I think a little reluctant to see.”"

Lots of institutional knowledge was lost. These people retired whilst WFH was in full effect and only perfunctory handovers took place in many cases.

As much as millenials like to bash "boomers", they were a lot of the people that kept the trains running, so to speak. They were also the ones most likely to have returned to the office post covid.

Stalin had full employment.

Ahh, the old Soviet expression:

"We pretend to work and they pretend to pay us."
Pipe down 30 yr old virgin, men are talking here.

Unemployment will be low for years because Baby Boomers have not only left the labor force, the pandemic had millions of them leave early. Who is in the federal government is immaterial during such a shift. Only socialists could fuk this up.

Stalin was a ped0. One of the worst in history.

Nobody was pretending in Stalin's time. That came later...

He sent mfers to work.

Nah socialism is the solution. Unless you think it makes sense to have 70 year olds competing with 20 year olds for jobs.

20 yr olds have few real world skills, especially soft skills.

Lots of free labor during Stalin's iron grip.

Full employment bro