The Labor Market ‘Crisis’ Is a Lie. The Real Story Is Much Scarier.
The sharp drop in labor force participation isn’t the crisis you think it is — more than half is just a statistical correction. But buried beneath the noise is something far more unsettling: privileged, college-educated workers are quietly opting out of the traditional economy. Not because they have to. Because they’ve stopped believing the deal still works. When the people with the most options start walking away, that’s not a labor statistic — it’s a warning.