Quote:
Originally Posted by Rochard
Correct. They are not included in the labor force because they are they are not working. But they are included in the total population.
Here is the equation:
Labor Force Participation Rate = (Labor Force / Total Population over Age 16) * 100
When they say "total population over age 16" they mean EVERYONE over the age of sixteen. It does not mean "everyone over the age of sixteen minus retired people, disabled, students, people who pick their nose, etc.
Again.... This decline took place long before Obama took office which makes your entire point invalid.
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Let me explain it to you a little bit easier to understand I guess. The reason it says "over 16" is because under 16 can't legally work. They can't participate.. Everyone else can legally. That's why they are backed out in this total population equation. It still doesn't help your argument one bit because those other people are not included in what's being discussed. The labor force. Retirees can work. Housewives can work, students can work. And a lot of them do. But they aren't counted in the labor force participation rate.