Of course, when the labor participation rate falls to zero, then unemployment will also fall to zero. And the Great Zero will have achieved His most profound Dream - He will once again be able to ride in His limo through dusty villages and see the wisdom in His people’s eyes ... Ah, all His fond chilhood memories ...
The sad part is that the BLS labor participation rate includes government jobs as well as private sector jobs.
IF we could plot labor participation rates for PRIVATE SECTOR ONLY, I suspect the charts would look even worse.
But we agree that a weak nation of dependent serfs would please our ‘betters’ far more than a strong nation of free men.