Today, Marketwatch reported on a research note from Spencer Hill of Goldman Sachs Research claiming that the young workers cohorts in the U.S. have now caught up in terms of employment with older workers' cohorts.
Sadly, the argument is based on highly flawed analysis. The core data presented in support of this thesis is the unemployment rate, as shown in the chart below:
So, no, beyond superficially deflated official unemployment metric, there is no evidence of the labor force conditions recovery for the younger workers. The Generation Lost is still lost. And that is before we consider the life cycle effects of the crisis.
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