Stock Selloff, Collapse of Cryptos, Meme Stocks & SPAC/IPO Zombies Bringing Day Traders Back into the Labor Force? | Wolf Street

Most cryptos have collapsed by 70% or more, and some have essentially vanished. DeFi crypto exchanges and lending platforms have filed for bankruptcy and taken their clients’ fiat and cryptos with them. It has been a nightmare out there for people exposed to this stuff.

The prime age labor force participation rate – people between 25 and 54 years old, the most dynamic and crucial portion of the labor force – jumped to 82.8%, the highest rate since November 2019.

For people aged 25 to 54, the labor force participation rate is now higher than in the Good Times before the pandemic, except for the three months from December 2019 through February 2020, indicating that younger people have moved into the work force. In other words, the rate has fully recovered to Good Times levels, and that’s very good news for the labor market that needs them:

Stock Selloff, Collapse of Cryptos, Meme Stocks & SPAC/IPO Zombies Bringing Day Traders Back into the Labor Force? | Wolf Street