***Biden wins presidency-Boy are we toast***

[CountValentine]

This specific aspect is more likely due to how they hope it will affect interest rates.

I am sure that is part of it because they affect each other.

[aygart]

Political position.

Correct. Still amazing. Ironic at the very least.

[aygart]

I am sure that is part of it because they affect each other.

yes

[aygart]

Hopefully we can say the same next month that remains to be seen.

would be nice. There is a good chance of trickle down from gas as @avromie7 wrote.

[CountValentine]

Correct. Still amazing. Ironic at the very least.

President is in isolation, so he had nothing to do with legislation. After all he won the election because he hid in the basement.

Classic election denier stuff. 

[aygart]

After all he won the election because he hid in the basement.

You never heard that from me. I always said not to underestimate him considering how he beat a formidable field of primary opponents.
(ETA: I guess it is possible that I've said it facetiously)

[CountValentine]

You never heard that from me. I always said not to underestimate him considering how he beat a formidable field of primary opponents.
(ETA: I guess it is possible that I've said it facetiously)

I didn't mean you unless you are an election denier which I consider you not to be but won't ask. 

[aygart]

I was not prepared for this chart.

https://www.clevelandfed.org/our-research/indicators-and-data/median-cpi.aspx




https://twitter.com/ClevelandFed/status/1557426520037154817

[yuneeq]

I was not prepared for this chart.

What does it mean to you

[CountValentine]

What does it mean to you

That you can move the goalpost to find something to fit the narrative? 

[yuneeq]

We got a good CPI, jobs and UE numbers but the spin is they are bad. The market thought the CPI was great.

Are you concerned about labor force participation rate? Despite all the job/UE gains, participation rate has been going down since March, while still far below pre-COVID numbers. Which in real numbers means fewer people are currently employed compared to March.

https://tradingeconomics.com/united-states/labor-force-participation-rate

[CountValentine]

Are you concerned about labor force participation rate? Despite all the job/UE gains, participation rate has been going down since March, while still far below pre-COVID numbers. Which in real numbers means fewer people are currently employed compared to March.

https://tradingeconomics.com/united-states/labor-force-participation-rate

There are numbers and views of those numbers for everything. I don't have the time for all of them, so I stick with what we have been using as goalposts.

What I do know is I see signs in every part of the country I go to "help wanted". Was at a DQ in WI last week at it closed early because of no help. Go to a restaurant to eat and wait 30 minutes after I get seated for a server because they are shorthanded.

[Ver hut gazugt]

Are you concerned about labor force participation rate? Despite all the job/UE gains, participation rate has been going down since March, while still far below pre-COVID numbers. Which in real numbers means fewer people are currently employed compared to March.

https://tradingeconomics.com/united-states/labor-force-participation-rate

it is confusing. I would think it would go up because inflation is making people who live on fixed income get back into the labor market.

[Baruch]

Are you concerned about labor force participation rate? Despite all the job/UE gains, participation rate has been going down since March, while still far below pre-COVID numbers. Which in real numbers means fewer people are currently employed compared to March.

https://tradingeconomics.com/united-states/labor-force-participation-rate

"labor force participation rate" = "I belong to the the party out of power".

[avromie7]

What I do know is I see signs in every part of the country I go to "help wanted". Was at a DQ in WI last week at it closed early because of no help. Go to a restaurant to eat and wait 30 minutes after I get seated for a server because they are shorthanded.

Do you consider that a good thing?

[CountValentine]

Do you consider that a good thing?

Not sure. Do we need more workers, or we have enough workers but need them to go back to work.

I remember many here blamed it on the free money (I think you did,no) but we found out that was not the case.

[avromie7]

Not sure. Do we need more workers, or we have enough workers but need them to go back to work.

I remember many here blamed it on the free money (I think you did,no) but we found out that was not the case.

The lower participation rate indicates that there are more workers who did not go back to work. This is leading to more automation, which is a good thing. For example, most kosher grocery stores in Lakewood put in self-checkout over the past year or so, and many restaurants are pushing people to order online instead of by phone.

I did blame the labor shortage on the handouts and it definitely seems that is not the reason for such a low participation rate. However, I haven't been able to come up with another reasonable explanation. I think we should try to figure out why so many people are not joining the labor force, maybe bringing back work requirements for government assistance would help.

Do you have any ideas how to get more people back into the workforce?

[CountValentine]

I think we should try to figure out why so many people are not joining the labor force, maybe bringing back work requirements for government assistance would help.

Do you have any ideas how to get more people back into the workforce?

How about retirees? How much does that account for?

As far as ideas I am trying to figure out what they are living on without a job.

[aygart]

How about retirees? How much does that account for?

As far as ideas I am trying to figure out what they are living on without a job.

MS?

[zh cohen]

However, I haven't been able to come up with another reasonable explanation.

Perhaps this is part of the explanation -

Credit card balances saw their largest year-over-year percentage increase in more than twenty years, while aggregate limits on cards marked their largest increase in over ten years

https://www.newyorkfed.org/microeconomics/hhdc