Trump and other conservatives have been claiming a lie that the unemployment is around 40%. This is something touted often on conservative talk radio, meant to undermine confidence in the government and BLS as well as create fear and disaffection in people. They claim that the BLS numbers are incorrect because they don’t count a lot of people, including people who stop looking for work… but that’s another lie. The statistics don’t count people who retire, obviously, since those people are no longer in the labor pool.
Due to baby boomers retiring there are around 10,000 people every single day who are turning 65 and potentially retiring and leaving the labor market. Many of these are people who formerly worked and no longer will be working, so you have a natural draining of the total labor pool due to this effect. Therefore with immigration and new jobs being created this needs to offset around 300,000 people a month who are leaving the labor force to retire.
When you calculate unemployment you don’t count children, elderly who aren’t working or are retired, or disabled people who can’t work. If you counted those people in “unemployment” statistics you wouldn’t get an accurate number, since those people aren’t potential workers. It’s true that some people in their 50s, 60s and 70s might retire earlier than planned due to having a hard time finding a job, but regardless you don’t count people who aren’t looking for work in your statistics to determine how many people are unemployed.
It’s just more misdirection and lies from Republicans. It’s very common for them to manipulate people’s feelings and ideas around these issue. Even Trump’s son was on TV talking about the “46% unemployment”, tying to paint a dire picture of the economy. It’s simply not true.
And it’s similar to their lie about taxes, when they say that X% of people in the US pay no taxes. They say this as a means to make conservatives angry about so many people “on welfare” or whatever; this is something Romney talked about last time around when he was caught on hidden camera at that fundraising event… problem is, this is another deliberate misdirection: many of those people “not paying taxes” (they really mean only income taxes, but they rarely admit that stipulation) are children, disabled people, veterans who don’t work, and the elderly retired.
Yeah, kids don’t pay income tax. Neither do you pay income tax if you’re retired or cannot work. But the Republicans use these figures to create more lies and distortion to try and sow discontent and anger among their political base. Sad thing is, it usually works.