Just SoUno if you know only one aspect of the data on labor force participation, it should be this:<quoted text>
Hey, no problem here if you want to believe lies.
800,000 Americans leaving the work force in one month is not JOB CREATION.
Only in the wee little cobwebs of your vacant skull.
You can keep dreaming but this is all you have.
Wait till these scrumptious food lines start. Similar to the grocery lines in Russia. They have about 10 loaves of bread on the shelf for 200 people waiting. This is the good news.
You will lose the fat then. No more twinkies for you.
My apologies to the Twinkie.
Labor force participation used to be relatively low, it rose during the 1970s, 1980s and 1990s, peaking
in 2000, and it has generally been declining since 2000.
From 1948 to 1966, the labor force participation rate was relatively low and relatively stable,
averaging 59.1 percent. That’s substantially lower than today’s value of 63 percent. It is
important to note that we normally consider the U.S. economy to have performed relatively
well during this period, especially during the long expansion of the 1960s. Evidently, low labor
force participation does not equate with weak economic growth. Surely this is because the
factors driving economic growth are different from the factors driving labor force participation.
After about three decades of trending up, the labor force participation rate peaked in the first
half of 2000 at 67.3 percent. The rate of increase was slower in the 1990s than it was in the
1970s or 1980s. The peak was more than 8 percentage points higher than the average level
during 1948-1966. Many of the studies of labor force participation during this period focused
on the increasing participation rates of women. However, whatever effects came from that
source, or any other source, the labor force participation rate could not continue to increase
forever. Households are making choices about how much labor to supply given current wages
and work environments, and women newly joining the labor force would find the right level of
participation and stop there.
Since 2000, the labor force participation rate has generally been declining. The pace of decline
was particularly sharp during the recession of 2007-2009, but the participation rate also
declined steadily in the early 2000s and since the end of the recession in mid-2009.
The general picture, then, is one of a hump shape in U.S. aggregate labor force participation
during the postwar era. A satisfactory theory has to account for this hump shape. One way to
build such a theory is to appeal to demographics. The nation’s workforce had a younger profile
as the baby boom generation came of age, and will have an older profile as the baby boom
generation continues to retire. Since different age groups have different propensities to
participate, this suggests a promising avenue to explain the labor force participation data.