Consider this a complaint post... Yesterday's release of jobs created was in line with expectations and even a bit of above, yet the unemployment rate edged up. Amazingly... it was due to more people entering the work force, which also is the reason given for "limited real wage growth". Real wage growth being that amount above inflation. This is where I start my complaint. For years, the labor force participation rate has been falling. It was rightly attributed to more and more teens delaying work for education. That was all reasonable and could be supported by data. After the great recession, it started falling rapidly. The reason being given was boomers are starting to retire. No government agency data truly supported this theory, but it became widely accepted. Generally speaking those agencies went along with the talking point by saying it could possibly be due to boomer retirements or other such language. The first graph is the labor force participation rate (Thanks to the BLS)... Apparently all the boomers have now retired!! But wait... It is just getting started and will last awhile. If every boomer had retired at their full benefit rate, the number would be almost 26 million in the past 8 years. There is another 50+ million to go over the next 12 years. While the root cause of the LFP falling was attributed by politicians as being due to boomers and the current trend is edging up... it will begin falling and it will be due to boomer retirements, or will it? One final note... the term boomers may not mean what you think as well. The war was over and millions of soldiers returned home, started families, etc. Maybe and maybe not... Median age of American marriages 1890 ~2010. Okay, got that off my chest.