The collapse in the labour force participation rate has been one of the key stories of the great recession. The participation rate is the percentage of the working age population in the labour force.
As the economy slowly recovers, an important question is what will happen to the participation rate over the next few years? If the participation rate increases to 66% – from the current 64.5% – then the U.S. economy will need an additional 3.3 million jobs just to hold the unemployment rate steady (not counting population growth).
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