That measure will reflect changing demographics and, specific to our current circumstances, an increase in retirements during covid. Prime age participation is

That measure will reflect changing demographics and, specific to our current circumstances, an increase in retirements during covid. Prime age participation is more useful for projecting forward https://fred.stlouisfed.org/series/LNS11300060 https://fred.stlouisfed.org/series/LNS11300060