And what's happening with home ownership and real estate prices across the nation? For example, my development has 115 homes. Zero are for sale, and the last sale was nearly 1 year ago. There is no inventory.
Does it constitute a virtuous cycle for the economy? Next up, inflation and increasing interest rates as the fed works to keep the economy from overheating.
As long as the US continues to maintain a comparative advantage in certain industries (e.g. software) I see no reason why they will be immune to wage inflation either. In fact this is arguably already occurring
It hit 155.2 million in February. The highest number of people that have ever been employed in US history.
By comparison, that number was 143 million just five years ago. The prior peak before the great recession ten years ago, was 146 million.
It's not the record for labor force participation rate obviously. That will never be hit again, thanks to the US aging.
Maybe, but not necessarily. The Labor force is defined as those of "working age", so if they age out of the tracked range, then they no longer accounted for in the labor force participation rate calculation.
There may be a general population participation rate (not sure if I have the right term here) for which your comment could be projected if current demographic trends hold, but that can be shifted by things like shifting immigration or fertility rate trends.
This was a big headline the other day:
"People over 65 years old would outnumber children by 2035, a first in U.S. history, according to updated projections released by the Census Bureau on Tuesday."
https://www.wsj.com/articles/elderly-in-u-s-are-projected-to...