Source: Jobs report January 2023: Payrolls increased by 517,000, unemployment rate at 53-year low
Reminder – the new entrant cohort to the population pyramid is shrinking, while the top end has left or is leaving the work force.
In my state, the number of new young workers is collapsing:
The news reports make no mention of the population demographics. Instead, watch for low unemployment to be attributed to Biden Administration policies – which have little to do with this trend.