This chart via Bloomberg’s Michael McDonough breaks out labour force participation by age since 1990. Youth employment (ages 16-19) has seen the steepest decline, followed by ages 20-24.
Last month, the labour participation rate for those aged 16-19 fell to 34.0% from 34.9% in July.
Kids are likely staying in school for longer (or avoiding work altogether) thanks to a tough labour market. On the other hand, the 65-and-over crowd has seen the sharpest uptick in participation. The financial crisis bled retirement savings, forcing older Americans to stay on the job for longer.
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