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20,000 jobs per month growth over the past year can only be described as “anemic”, and the price shocks from the Iran War are just starting to be felt.
Demographics: roughly 5 million US kids turn 21 every year, and only 4 million Boomers turn 65 (retirement age). Even if every 65 year old retires, we need a million new jobs a year (80,000/month). More than that, when Boomers like me work past 65.
No jobs bc Boomers won’t retire and no housing bc Boomers won’t downsize. It’s a tough world to be young in.
And that doesn’t account for any legal immigration.