I think boomers retiring is the biggest component, but also the welfare/underground economy is quite large. Women with children on welfare can get the equivalent of 60k. Most of those people can’t get that much in the labor force, at least starting out after having been out of the labor force so long. While there are a lot of jobs available now, there are still disincentives to get a job.
“Women with children on welfare can get the equivalent of 60k.”
How is that possible.