Quote:
Originally Posted by Robbie
No, no, no.
Those figures for the Labor participation rate are based on ELIGIBLE people. NOT people of retirement age.
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You are wrong. People of retirement age are still eligible to work.
The labor participation rate is based on the entire population. This is on a downward trend because our population is getting older. The labor participation rate will continue it's downward trend no matter who is in office or how the economy does.
What you are talking about is the prime working-age population workforce participation rate, which is reveals a different picture. This was 65% in the 1950s, rose to 84% in 2000, dropped to 80% in 2005, and has since gone up slightly to 81%.
All of this is really just common sense. The labor participation rate started to decline long before Obama took office, and long before the economy took a crap. This started in 2000.
Read up:
Declining Labor Participation Rates