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Since they're all liars - and boy has the lying been dizzying - it's not hard to grasp how this picture is off. Just in my business, there's a labour shortage. And we all know that's the case across several industries. Restaurants are closing, some haven't even reopened since the criminal lockdowns because of staff shortages. So, yeh, calling BS here and it's an easy call.

The labor shortage is truly a bizarre phenomenon, because there shouldn't be a labor shortage--not when the labor force participation rate is near 62%.

There is a very large cohort of potential workers that, for whatever reason, have fallen completely out of the labor force. If the economy were as robust and vibrant as many would claim, it would be pulling those individuals back into the workforce. Instead, the labor force participation rate is declining.

There's another odd signal in the JOLTS r…