…in employment history, presented pictorially.
Notice that: the share of working-age Americans had started to fall the year before the Panic of 2008, and it started to fall sharply a few months prior to the Panic’s official start. Those are economic lags working through the system.
The problem is, the share of potential workers actually working has remained static at its historic low of roughly 58.5% ever since. That’s not economic lag, that’s failed economic policies over the last several years.