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Could the Boomer Retirement Wave and Labor Shortages Absorb the Recession?

August 09, 2023 - 00:00
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The national unemployment rate dipped to 3.5 percent in July, according to the latest data from the Bureau of Labor Statistics, once again hitting more than 50-year lows.It’s still peak employment as far as the eye can see. Even with the past two years’ high inflation dropping dramatically and disinflation usually correlating with higher unemployment and a recession, that simply has not occurred yet, despite all the warning signs typically associated with an economic slowdown or downturn.To see why, one must consider the very real labor shortages we have been experiencing.Job openings measured by the Bureau of Labor Statistics remain ...

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