If the economy is 'roaring', why are so many Americans still struggling?

labor force participation rate is still low

https://data.bls.gov/timeseries/LNS11300000

while the unemployment rate is quite low

https://data.bls.gov/timeseries/LNS14000000

that doesn't necessarily capture workers sitting on the sidelines who are stepping in as they find job offers (i.e. the labor market isn't necessarily as tight as full employment would imply)

there's also the issue of workers who were forced out of skilled positions and took on new work or a new career (i.e. sub-optimal choices) that may be looking for the opportunity to sort themselves back into a higher-paying job as the labor market tightens (if those jobs exist)

that's all to say some metrics say "the economy is roaring" the reality is closer to "we're finally getting close to fully recovering from the recession"

and as always there are a whole slew of different ways to think about things depending on whether or not you're focused on just the median or if you're considering what's going on in wealthy cities vs. poor rural areas. There's a good chance some of the flat-line appearance of wage growth is due to the "thank god for mississippi effect"

/r/Liberal Thread Parent Link - theguardian.com