2 ms·

So is the labor participation rate over the same time period: https://fred.stlouisfed.org/graph/?g=1b4eJ https://fred.stlouisfed.org/graph/?g=1b4eJ As boomers

• dragonwriter 3y ago
  > So is the labor participation rate over the same time period Yes, because the denominator for labor force is the population over 16, on the premise that people age into "working age", but never age out of it, a demographic bulge entering the age range at which people both retire if they can, and frequently become unable to work even if they can't afford to retire, drops labor force participation rate when you don't have a similar demographic bulge entering working age. The prime age labor force participation rate (the LFPR with a denominator based on prime working age having not only an entrance age of 16 but also an exit age of 55) is not low, in fact, its the highest its been any time since the dotcom bubble burst in 2001. So, yes, the low overall LFPR is entirely explained by "we have lots of old people". https://fred.stlouisfed.org/series/LNS11300060 https://fred.stlouisfed.org/series/LNS11300060