Quote:
Originally Posted by aka123
The job participation is not calculated from the whole population, so old folks don't count if they are over 64. Neither do count under 15 years olds. Wives between 15-64 do count, or "home daddys", or whatever. They may not want a job to start with; great, as there is no jobs for them. So, put it however you want it.
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There are dozens of possible explanations... so it's impossible to draw any conclusions from the "employment-population ratio"...
maybe more people are choosing to retire earlier (before 64) causing the ratio to drop?
maybe households are feeling wealthier now, so only one person wants/needs to work instead of 2? maybe more people are choosing different paths in life, starting a business, investing, or perhaps pursuing arts instead of "working"? maybe social standards are changing, so maybe it's more acceptable not to work? maybe younger generation are less materialistic, so they are less interested in work? maybe more people are choosing to study instead of work? etc...
so... claiming that low "employment-population ratio" proves there is no work available is a bit of a stretch... there are dozens of alternative equally possible explanations...