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Originally Posted by Rochard
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 |
Quote:
Originally Posted by slapass
I copied the site in my other post. They share the criteria for their stats.
16 milion soldiers from the US. Rosy the riveter ring a bell? Men of a certain age were rare. The baby boom is a real thing and yeah it was a lot of fucking.
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Labor Force Participation Rate
While studying employment, another important figure to determine is the labor force participation rate. Here, we compare the size of the labor force with the number of people that could potentially be a part of the labor force.
It is important to note that we do not include people under the age of 16 in this figure. In addition, students, retirees, the disabled, homemakers, and the voluntarily idle are not counted in the labor force. The labor force as the percentage of the total population over the minimum working age is called labor force participation rate.
[url=http://www.econport.org/content/handbook/Unemployment/Define.html[/url]