Retired Workers and the Overall Labor Force Participation Rate

In December I wrote Ten Economic Questions for 2020 . I noted that I expect the overall participation rate to start declining again in 2020, pushing down the unemployment rate . Note: Every month, with the employment report, I focus on the prime participation rate because of changing demographics - but this post is about the overall participation rate. Here is a graph of the annual change in Retired workers and dependent receiving Old-Age Social Security benefits and the annual Labor Force Participation Rate since 1970.  This doesn't mean these people are actually retiring (they may......(read more)

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