Just when I think government has reached peak stupidity, some buffoonish bureaucrat surprises me. This time it was the Atlanta Fed president who equated high rates of incarceration of minorities with sub-optimal employment. Of course the suggestion here is “systemic racism” or something. Here’s a news flash for this moron and other leftists who can’t grasp basic economics: the incarcerated are not counted in the labor force. Secondly, there are currently as many job openings as there are unemployed in this country. That’s right – there is a job waiting for every person without one.
What we have is not an incarceration problem but a government interference problem. When you shut down half the economy, destroy hundreds of thousands of businesses, print and spend money to make up for it, misallocate capital, and pay people to NOT WORK, then you have a labor problem.